The Irrelevance of Conventional Economics.

First US edition. 8vo. ix, [1], 262 pp. Original black cloth, spine lettered in silver, dust jacket. A fine copy. New York, Liveright Publishing Corporation.

A stimulating polemic by the Hungarian-born British political economist Thomas Balogh, Baron Balogh (1905-1985) in which he sets out to analyse what he calls 'the incorrigible tendency to irrelevance' amongst professional economists; that is, the increasing disparity between the principal economics problems of the twentieth century and the main concerns of orthodox economic theory. 

Balogh was a ‘heterodox political economist, an adviser to numerous governments and central banks, as well as being Adviser on Economic Affairs in the Cabinet Office of the UK during Harold Wilson’s premiership. His contributions to development economics were mostly critical rather than creative, showing the weaknesses in a variety of models and policies. He was welcomed by progressive governments for his ability to understand the politics of decision-making and to identify equitable solutions’ (Palgrave Companion to Oxford Economics, p. 35).

Stock Code: 247877