Equilibrium versus Understanding: Towards the Rehumanizing of Economics within Social Theory (Routledge Frontiers of Political Economy)

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Equilibrium versus Understanding argues that neo-classical theory is incapable of explaining or understanding human conduct. The author asserts that a different sort of economic theory is required and proposes a hermeneutic one.
The book presents a comprehensive description and analysis of the methodologies involved, ultimately rejecting the positivist in favour of an interpretative approach to social theory.

Equilibrium versus Understanding: Towards the Rehumanizing of Economics within Social Theory (Routledge Frontiers of Political Economy) Review

This work is only for the bloodthirsty economist (or economics student). Addleson presses for a paradigm shift in understanding and deciphering peoples' motives behind economic decisions. Ultimately, economics remains a social science, and cannot be boxed in by lines and equations.

The book reaches me in the same way that Wheatley's New Science work depicts organizational planning. Addleson presents a fundamentally radical view of economics (as emphasized by the Austrian school). He begs us to consider interpreting the social actions of each individual or firm in assessing economic change.

If you are looking for a way out of the maze, this book will not necessarily get you out, but it will show you some other paths. Hopefully, you'll know longer be the blind mouse when you are finished

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