Skip to main content Skip to navigation

Activities and Outputs

Select tags to filter on

Book, The Market

Published by Agenda Publishing and Columbia University Press, January 2018

Back Cover Blurb: "We have become accustomed to economists and politicians talking about 'market forces' as if they are immutable laws of the universe. But what exactly is 'the market'? Originally an abstract idea from economic theory - the locus of demand and supply - it has come to inform the way we speak about our relationship to the economic system as a whole. Matthew Watson unpacks the concept to ask what does it really mean to allow ourselves to submit to market forces. And does economic theory really provide insights into the market institutions that shape our everyday life? In tackling these questions, the book provides a major contribution to a deeper appreciation of the dominant economic language of our time, challenging the idea that we can simply defer to the 'logic of the market'."

Endorsements:

"A masterpiece of erudition and concision, Matthew Watson's new book lifts the lid on a concept whose ubiquity in public discourse is matched only by its slipperiness. With immense skill, Watson explores the ways in which the idea of 'the market' has developed within the field of economics and in so doing teases out the complex relationships between academic abstraction of the market concept and the prevalence of market ideology in politics. The result is a truly impressive book that should be regarded as a vital supplement to standard economics textbooks and essential reading for anyone interested in understanding whether there are alternatives to the 'iron cage' of the market." - Professor Ben Rosamond, University of Copenhagen

"Watson has provided a history of the economic ideas that form the basis of modern economics, brilliantly explaining where many of the economic laws and concepts central to the idea of the market originated ... there are very few texts on the market that are as good as this." - Dr Huw Macartney, University of Birmingham

Sun 27 Feb 2022, 13:20 | Tags: book, Agenda, The Market

Book, Uneconomic Economics and the Crisis of the Model World

Published by Palgrave Macmillan, February 2014

Back Cover Blurb: "Matthew Watson analyses the political response to imploding markets through the lens of the history of economic thought, asking 'what has gone wrong with economics?' against the backdrop of the global financial crisis. The most important historical trend, he suggests, is the development of an 'uneconomic economics', whereby attention is placed on explaining relationships in perfectly efficient blackboard markets rather than the much more chaotic institutions encountered in everyday economic interactions. Economists now routinely devise sophisticated abstract models which are theoretically rigorous but fail to capture the way everyday economic decisions are actually undertaken. Acknowledging the gap between the model world and the real world led many commentators to initially pronounce that the financial crisis was equally a crisis of economics. Watson shows, though, that the subsequent redefinition of the crisis as a problem of over-extended state spending has successfully rehabilitated the model world of orthodox economics opinion."

Endorsements:

"To control the forces shaping our economic future, we have first to understand those shaping our immediate past. Mainstream economics claims to do that, but as this important book shows, that claim is false. Matthew Watson has written an invaluable guide to the limits of orthodox economics thinking on the 2007/8 financial crisis. It is a guide that, if read widely, will help sustain an informed citizenry on both sides of the Atlantic. Ideas matter, and the ideas discussed here matter more than most." - Professor David Coates, Worrell Professor of Anglo-American Studies, Wake Forest University, US.

"Matthew Watson's elegant and trenchant analysis shines a fiercely critical and deeply scholarly light on the profound relationship between the practices of financial markets, the modes of thought typical of orthodox economics and post-crisis policy thinking. Written with admirable clarity and concision, it stands as one of the very best - and certainly one of the most important - books yet written on the global financial crisis." - Professor Ben Rosamond, Professor of Political Science, University of Copenhagen, Denmark.

Sun 27 Feb 2022, 13:10 | Tags: book, Uneconomic Economics, Palgrave

Book, Uneconomic Economics and the Crisis of the Model World

Published by Palgrave Macmillan, February 2014

Back Cover Blurb: "Matthew Watson analyses the political response to imploding markets through the lens of the history of economic thought, asking 'what has gone wrong with economics?' against the backdrop of the global financial crisis. The most important historical trend, he suggests, is the development of an 'uneconomic economics', whereby attention is placed on explaining relationships in perfectly efficient blackboard markets rather than the much more chaotic institutions encountered in everyday economic interactions. Economists now routinely devise sophisticated abstract models which are theoretically rigorous but fail to capture the way everyday economic decisions are actually undertaken. Acknowledging the gap between the model world and the real world led many commentators to initially pronounce that the financial crisis was equally a crisis of economics. Watson shows, though, that the subsequent redefinition of the crisis as a problem of over-extended state spending has successfully rehabilitated the model world of orthodox economics opinion."

Endorsements:

"To control the forces shaping our economic future, we have first to understand those shaping our immediate past. Mainstream economics claims to do that, but as this important book shows, that claim is false. Matthew Watson has written an invaluable guide to the limits of orthodox economics thinking on the 2007/8 financial crisis. It is a guide that, if read widely, will help sustain an informed citizenry on both sides of the Atlantic. Ideas matter, and the ideas discussed here matter more than most." - Professor David Coates, Worrell Professor of Anglo-American Studies, Wake Forest University, US.

"Matthew Watson's elegant and trenchant analysis shines a fiercely critical and deeply scholarly light on the profound relationship between the practices of financial markets, the modes of thought typical of orthodox economics and post-crisis policy thinking. Written with admirable clarity and concision, it stands as one of the very best - and certainly one of the most important - books yet written on the global financial crisis." - Professor Ben Rosamond, Professor of Political Science, University of Copenhagen, Denmark.

Wed 19 Mar 2014, 14:39 | Tags: book