THE FOUNDATIONS OF ECONOMICS
1) Prices. Does everything have a price? Can we compute the price of everything?
2) Value. Exchange is meant to consist in the trading of equally valuable objects. How do we know this is or is not the case? Is there a difference between “exchange value”, “use value”, “cost”, and “price”?
3) Money. Exchange is almost never through bartering of commodities and almost always through a "monetary" payment. Why do we take money in exchange for valuable things? What determines the value of money? Is money really a mystery?
4) Production. Who produces what and what does “production” mean for economic analysis? If production is the source of any value how do the factors of production receive their share of such value? Where do the rules of the game come from?
5) Equilibrium. Economies function: production takes place, commodities are exchanged, people get rewarded and they keep trading. Is there any “law” behind these undeniable facts or is it just a chance?
6) Growth. Apparently we are “richer” than Augustus was, even of Luis XIV. Is that true? Is there any “economics” in “economic growth” or is it all an illusion?
7) Inequality. We are also unequal, some of us have a lot and some little. This has been true at least since the Neolithic Transition. Can economic analysis say anything about this fact or, again, is it all chance?
Selected readings from either THE NEW PALGRAVE DICTIONARY OF ECONOMICS or WIKIPEDIA/ECONOMICS https://en.wikipedia.org/wiki/Economics and related pages.
McCloskey, D. (1982), The Rhetoric of Economics (Rhetoric of the Human Sciences). Madison: University of Wisconsin Press (2nd edition, 1998).
Schumpeter, J. (1954), History of Economic Analysis, New York: Oxford University Press.
Further suggested readings will be given during the lectures and through the Moodle page for the course
Questo insegnamento tratta argomenti connessi alla macroarea "Povertà e disuguaglianze" e concorre alla realizzazione dei relativi obiettivi ONU dell'Agenda 2030 per lo Sviluppo Sostenibile