Political Economy, Ideology, and the Impact of Economics on the Third World

Political Economy, Ideology, and the Impact of Economics on the Third World

by Derrick K. Gondwe


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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, economics—particularly neoclassical economics—is 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.

Product Details

ISBN-13: 9780275940256
Publisher: ABC-CLIO, Incorporated
Publication date: 03/23/1992
Pages: 208
Product dimensions: 6.14(w) x 9.21(h) x 0.50(d)
Lexile: 1500L (what's this?)

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



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