Nature of Mainstream Economics

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Mind Map on Nature of Mainstream Economics, created by Kori Mayfield on 15/10/2017.
Kori Mayfield
Mind Map by Kori Mayfield, updated more than 1 year ago
Kori Mayfield
Created by Kori Mayfield over 6 years ago
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Resource summary

Nature of Mainstream Economics
  1. Benevolent Patriarch
    1. Patriarch makes choices in the best interest of the family
      1. Allows families to be treated as individuals
        1. One person making rational decision taking into account personal needs of other family members
          1. assume this person will behave altruistically
        2. Idea that women only work as a function of their husband's income
          1. legislation that allows for all men to earn a "family wage" will keep women out of the work force beaus they can be taken care of by breadwinning husbands
        3. Woman of Leisure
          1. Women do not work
            1. duties they preform are for their families and therefor not valued in the marketplace
              1. idea that women have comparitive advantage in reproductive activity
                1. women should not be paid for their "natural" role in society
          2. Free Choice
            1. Economic actors are independent and able to make choices based on their own needs and desires "limited only by 'constraints'"
              1. Falls apart when we look at interdependent actors such as infants or children
                1. Not really an issue when women get "personal value" from caring for their children
            2. Marketplace of Ideas
              1. Idea that best ideas will be incorporated because of their merit in a competitive "market of ideas"
                1. By this assumption current ideas would be the best of the best
                  1. Market is not fair to all ideas as it excludes the ideas of those seen as unworthy or unconforming to the ideas already entrenched
                    1. Creates cycle of problems enforced by problematic starting points
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