Economics, especially economic theory, has become extremely mathematical, even esoteric. Robert Heilbroner once wrote the prestige given to mathematics in economics may have contributed to rigor, but has also led to mortis. Several papers in journals have more Greek letters than English ones. Ashok Sanjay Guha is a researcher and a teacher. He has written papers on some of the most esoteric subjects you can think of, such as social choice. However, he has also written on down to earth policy matters and as a regular newspaper columnist on subjects other than economics.
That diversified interest should make for a great teacher and Professor Guha has taught for years at School of International Studies, JNU. I just realised that this is Ashok Sanjay Guha’s second authored book and it is a text. (The earlier one, many years ago, was on economic growth.) The Preface states, “How could I clarify the basic concepts of a discipline that had become increasingly mathematical without enmeshing them in mathematical methods and jargon that was sure to induce a state of uncomprehending somnolent boredom if not intellectual paralysis in my students?” This is not just a text. It is a text on economic theory, with standard divisions into micro and macro, the latter including international trade.
There are textbooks on economic theory that describe themselves as advanced graduate texts. With that adjective, they have no hesitation in liberally using Greek letters, equations and models. Contrast that with some great economists who wrote “texts” some 30 years ago. The use of mathematics was minimal and mathematics was a means to an end, not an end in itself. Albert Einstein said, “If you can’t explain it to a six-year-old, you don’t understand it yourself.” Precisely, and I suspect many teachers camouflage that problem by resorting to symbols. Not so Ashok Sanjay Guha, with his years of teaching experience, and that’s the reason there are no tears, and fears. This isn’t a text meant for graduate students. It is a text meant for those who have typically not had any exposure to economics earlier. Teaching concepts of micro and macro in plain English is by no means easy. (Perhaps because of Professor Guha’s own interests, the micro part is stronger in coverage than the macro.) I quoted one objective from the Preface. Here is the second. “How could I create and sustain in my students an enthusiasm for the subject I was supposed to teach? Could I somehow link it up with their primary interests, which were
definitely not those of textbook economics?”
Other than what is explicitly stated, there is a more serious point. What is economic theory? Does it have unambiguous answers to a given problem under the sun? Or is economics more about a bag of tools and a way of approaching issues? The excessive emphasis on mathematics suggests a certitude economics doesn’t possess and isn’t meant to have. This book has several “problems” meant for the student and they are intended to make the student think through trade-offs economics is typically confronted with.
The book is sub-titled “A new approach to an old discipline”. I don’t think it is a new approach at all. It is the old and classical approach that many contemporary economists have forgotten about and Guha has not only produced a wonderful “text”, but has also indirectly reminded us of what economics is about. I only wish the book had been thicker and more voluminous, with a wider coverage. I presume the reason is its roots, based on a single semester of course work. That straitjacketed the coverage.