Postmodernism is a broad term covering a wide set of ideas that shape various aspects of society based upon postmodern theory. Postmodernism based its way of gaining knowledge on multiple ways rather than just relying on reason and senses, as it was in modernism. It can be said that postmodernism is more skeptic of the previous approaches towards gaining knowledge and questions the existence of objective truth ("An Overview Of Premodernism, Modernism, & Postmodernism"). Cultural postmodernism refers to the effects of postmodernism on music, art, customs, laws, morals, and other aspects of culture. Economic postmodernism, on the other hand, deals with the economic theories inspired by postmodernist movement.
Economic postmodernism is based on the notion that in an economic system, human beings are interchangeable. Postmodernism entails that the understanding of gender in western society is flawed and oppressive towards gendered members of the society which is constructed to benefit males over women and other gendered members of the society. Postmodernist economists are mostly left leaning and support interventions from government to remove the systematic disadvantage women and other gendered members of society have to face as they deem economic system to favor men heavily. The level of interventions supported by postmodernist economists, however differs from economist to economist ("Postmodern Economics").
Cultural postmodernism refers to the cultural impact of postmodern theory including the support for more inclusive cultural ways. Cultural postmodernism differs from economic postmodernism in the way that it addresses the broader implications of postmodern philosophies instead of just economic thought. However, cultural modernism doesn’t apply the theory of postmodernism as accurately as economic postmodernism. The progress in cultural postmodernism is less rigid and much slower than economic postmodernism.
Works cited
"An Overview Of Premodernism, Modernism, & Postmodernism". Postmodernpsychology.com. Web. 21 Aug. 2016.
"Postmodern Culture & Postmodern Theory". Postmodernpsychology.com. Web. 21 Aug. 2016.
"Postmodern Economics". AllAboutWorldview.org. Web. 21 Aug. 2016.
