Fair Economics: Nature, money and people beyond neoclassical thinking

by Irene Schoene

Modern economics bases its world view on assumptions Adam Smith made about nature and people nearly three hundred years ago, when people travelled by horse and carriage and wrote by the light of candles. We now live in a globally-connected world of digital communication and advanced technology – and yet, our economic model remains unchanged, stuck in the past. Taking a thorough look at economics and the origins of our current way of thinking, Irene Schoene puts forward a modern economics that is not only relevant to our world of technology and industry, but which also shows an awareness of how it ties in to environmental considerations.

480 pages, Hardcover

First published October 1, 2015

Reviews

[Amie · Rating 4 out of 5]

Fair Economics by Irene Schoene presents an exploration of how economic systems can be reshaped to prioritise fairness and sustainability. The book contrasts traditional neoclassical economic models based on those presented by Adam Smith with the application of more equitable approaches. It focuses on the impact of inequality on both individuals and society. The approach of land and labour to be expanded to consider them as 'nature' and 'people' was a simplistic and useful summation.

The author delves into practical solutions, offering insights into how economies can balance profit with social and environmental well-being. Schoene's approach encourages a rethinking of economic success beyond mere financial growth.

The author has clearly undertaken considerable research to pull this together and presents compelling arguments for change. The theoretical sections are pretty dense. The book succeeds in sparking important conversations about fairness in economics, but its academic tone will definitely not appeal to everyone. Nonetheless, it provides a fresh perspective on the need for systemic reform.