Towards a new paradigm for economics

Zaman, Asad (2005): Towards a new paradigm for economics. Published in: Journal of King Abdul Aziz University: Islamic Economics , Vol. 18, No. 2 (2005): pp. 49-59.

Abstract

Current economic theory is mainly concerned with the factors which affect the wealth of nations. Issues of income distribution and elimination of poverty and deprivation are secondary. We suggest an alternative formulation which would make hunger and homelessness, and poverty in general, the central concern of economics and economists.

• Item Type: MPRA Paper
• Language: English
• Keywords: Alternative paradigm, heterodox economics, poverty, lexicographic utility, needs and wants, basic needs approach
• Subjects: A - General Economics and Teaching > A1 - General Economics > A13 - Relation of Economics to Social Values; B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B50 - General

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