This work examines the practical impact of economics and economic ideology on the Third World. Gondwe argues that the scientific and technical veil covering economics reduces its capacity to affect current and future economic problems. Further, by attempting to shed itself of its ideological underpinnings, economicsparticularly neoclassical economicsis running the risk of becoming socially irrelevant. The author concludes that economics as it is now being practiced is inadequate to deal with real-world problems because its assumptions and methods bias it toward intellectual games and away from solutions to social problems. Economics, he argues, should return to the political economy it was before it was reduced to a mere study of markets, and the reintegration of economics into political economy should focus upon people, not wealth, as the subject and object of all economic activity.
This important work flies in the face of conventional economic wisdom and will be of interest to scholars in economics, political economy, political science, and economic history.
About the Author
DERRICK K. GONDWE is Professor of Economics at Gettysburg College in Pennsylvania. He holds a B.A. from Lake Forest College, an M.A. from the University of Wisconsin, and a Ph.D. from the University of Manitoba.
Table of Contents
The Transition from Political Economy to Economics
Ideology in Political Economy
Some Fundamental Theoretical Questions
Economics and the Political Economy of Less Developed Countries
Ideology and the Economics of Less Developed Countries
Toward a People-Centered Economics