Morality and Power

Morality and Power offers a compelling critique of orthodox economic analysis and its impacts on public policy. Mike Berry argues that the theoretical underpinning of evaluative tools like cost-benefit analysis rests on an incoherent concept of 'efficiency' derived from Paretian welfare economics. Beginning by reviewing the historical progression of economic thought, Berry argues there has been a lack of crucial development in economic thinking in public policy since the economic crisis of 2008. The ethically unacceptable outcomes of the current public policy approach are exposed: most notably the support for policies that accentuate inequality and social polarization; the outbreak of crises in the financial sector, and the treatment of refugees and migrants. Finally, threats to liberal democracies in an age of rampant populism and rising nationalism are examined, offering noteworthy suggestions for an alternative democratic future. Both students and practitioners of heterodox economics and public policy will find this book a compelling insight into the ethical concerns of neoliberal policies shaped by politicians and policymakers today.