The Moral Economy

Author: Samuel Bowles
Publisher: Yale University Press
ISBN: 0300221088
Size: 46.48 MB
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Should the idea of economic man—the amoral and self-interested Homo economicus—determine how we expect people to respond to monetary rewards, punishments, and other incentives? Samuel Bowles answers with a resounding “no.” Policies that follow from this paradigm, he shows, may “crowd out” ethical and generous motives and thus backfire. But incentives per se are not really the culprit. Bowles shows that crowding out occurs when the message conveyed by fines and rewards is that self-interest is expected, that the employer thinks the workforce is lazy, or that the citizen cannot otherwise be trusted to contribute to the public good. Using historical and recent case studies as well as behavioral experiments, Bowles shows how well-designed incentives can crowd in the civic motives on which good governance depends.

Identity Economics

Author: George A. Akerlof
Publisher: Princeton University Press
ISBN: 9781400834181
Size: 33.75 MB
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Identity Economics provides an important and compelling new way to understand human behavior, revealing how our identities--and not just economic incentives--influence our decisions. In 1995, economist Rachel Kranton wrote future Nobel Prize-winner George Akerlof a letter insisting that his most recent paper was wrong. Identity, she argued, was the missing element that would help to explain why people--facing the same economic circumstances--would make different choices. This was the beginning of a fourteen-year collaboration--and of Identity Economics. The authors explain how our conception of who we are and who we want to be may shape our economic lives more than any other factor, affecting how hard we work, and how we learn, spend, and save. Identity economics is a new way to understand people's decisions--at work, at school, and at home. With it, we can better appreciate why incentives like stock options work or don't; why some schools succeed and others don't; why some cities and towns don't invest in their futures--and much, much more. Identity Economics bridges a critical gap in the social sciences. It brings identity and norms to economics. People's notions of what is proper, and what is forbidden, and for whom, are fundamental to how hard they work, and how they learn, spend, and save. Thus people's identity--their conception of who they are, and of who they choose to be--may be the most important factor affecting their economic lives. And the limits placed by society on people's identity can also be crucial determinants of their economic well-being.

The New Economics Of Inequality And Redistribution

Author: Samuel Bowles
Publisher: Cambridge University Press
ISBN: 1107014034
Size: 62.82 MB
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Incorporating the latest results from behavioral economics and microeconomic theory, Samuel Bowles argues that conventional economics has mistakenly presented inequality as the price of progress. In place of this view, he offers a novel and optimistic account of the possibility of a more just economy.

Market State And Community

Author: David Miller
Publisher: Oxford University Press
ISBN: 9780198278641
Size: 71.33 MB
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David Miller makes a comprehensive analysis of an economy in which market mechanisms retain a central role, but in which capitalist patterns of ownership have been superceded. He provides a clear, coherent statement of the theoretical basis of market socialism, and justifies it as a viable political option.

A Cooperative Species

Author: Samuel Bowles
Publisher: Princeton University Press
ISBN: 9781400838837
Size: 79.38 MB
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Why do humans, uniquely among animals, cooperate in large numbers to advance projects for the common good? Contrary to the conventional wisdom in biology and economics, this generous and civic-minded behavior is widespread and cannot be explained simply by far-sighted self-interest or a desire to help close genealogical kin. In A Cooperative Species, Samuel Bowles and Herbert Gintis--pioneers in the new experimental and evolutionary science of human behavior--show that the central issue is not why selfish people act generously, but instead how genetic and cultural evolution has produced a species in which substantial numbers make sacrifices to uphold ethical norms and to help even total strangers. The authors describe how, for thousands of generations, cooperation with fellow group members has been essential to survival. Groups that created institutions to protect the civic-minded from exploitation by the selfish flourished and prevailed in conflicts with less cooperative groups. Key to this process was the evolution of social emotions such as shame and guilt, and our capacity to internalize social norms so that acting ethically became a personal goal rather than simply a prudent way to avoid punishment. Using experimental, archaeological, genetic, and ethnographic data to calibrate models of the coevolution of genes and culture as well as prehistoric warfare and other forms of group competition, A Cooperative Species provides a compelling and novel account of how humans came to be moral and cooperative.

Moral Markets

Author: Paul J. Zak
Publisher: Princeton University Press
ISBN: 9781400837366
Size: 58.20 MB
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Like nature itself, modern economic life is driven by relentless competition and unbridled selfishness. Or is it? Drawing on converging evidence from neuroscience, social science, biology, law, and philosophy, Moral Markets makes the case that modern market exchange works only because most people, most of the time, act virtuously. Competition and greed are certainly part of economics, but Moral Markets shows how the rules of market exchange have evolved to promote moral behavior and how exchange itself may make us more virtuous. Examining the biological basis of economic morality, tracing the connections between morality and markets, and exploring the profound implications of both, Moral Markets provides a surprising and fundamentally new view of economics--one that also reconnects the field to Adam Smith's position that morality has a biological basis. Moral Markets, the result of an extensive collaboration between leading social and natural scientists, includes contributions by neuroeconomist Paul Zak; economists Robert H. Frank, Herbert Gintis, Vernon Smith (winner of the 2002 Nobel Prize in economics), and Bart Wilson; law professors Oliver Goodenough, Erin O'Hara, and Lynn Stout; philosophers William Casebeer and Robert Solomon; primatologists Sarah Brosnan and Frans de Waal; biologists Carl Bergstrom, Ben Kerr, and Peter Richerson; anthropologists Robert Boyd and Michael Lachmann; political scientists Elinor Ostrom and David Schwab; management professor Rakesh Khurana; computational science and informatics doctoral candidate Erik Kimbrough; and business writer Charles Handy.

The Moral Economists

Author: Tim Rogan
Publisher: Princeton University Press
ISBN: 1400888026
Size: 41.98 MB
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A fresh look at how three important twentieth-century British thinkers viewed capitalism through a moral rather than material lens What’s wrong with capitalism? Answers to that question today focus on material inequality. Led by economists and conducted in utilitarian terms, the critique of capitalism in the twenty-first century is primarily concerned with disparities in income and wealth. It was not always so. The Moral Economists reconstructs another critical tradition, developed across the twentieth century in Britain, in which material deprivation was less important than moral or spiritual desolation. Tim Rogan focuses on three of the twentieth century’s most influential critics of capitalism—R. H. Tawney, Karl Polanyi, and E. P. Thompson. Making arguments about the relationships between economics and ethics in modernity, their works commanded wide readerships, shaped research agendas, and influenced public opinion. Rejecting the social philosophy of laissez-faire but fearing authoritarianism, these writers sought out forms of social solidarity closer than individualism admitted but freer than collectivism allowed. They discovered such solidarities while teaching economics, history, and literature to workers in the north of England and elsewhere. They wrote histories of capitalism to make these solidarities articulate. They used makeshift languages of “tradition” and “custom” to describe them until Thompson patented the idea of the “moral economy.” Their program began as a way of theorizing everything economics left out, but in challenging utilitarian orthodoxy in economics from the outside, they anticipated the work of later innovators inside economics. Examining the moral cornerstones of a twentieth-century critique of capitalism, The Moral Economists explains why this critique fell into disuse, and how it might be reformulated for the twenty-first century.

Sustainability For A Warming Planet

Author: Humberto Llavador
Publisher: Harvard University Press
ISBN: 0674286618
Size: 73.42 MB
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Human-generated greenhouse gas emissions imperil a global resource: a biosphere capable of supporting life as we know it. What is the fair way to share this scarce resource across present and future generations and across regions of the world? This study offers a new perspective based on the guiding ethics of sustainability and egalitarianism.

Poverty Traps

Author: Samuel Bowles
Publisher: Princeton University Press
ISBN: 1400841291
Size: 28.46 MB
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Much popular belief--and public policy--rests on the idea that those born into poverty have it in their power to escape. But the persistence of poverty and ever-growing economic inequality around the world have led many economists to seriously question the model of individual economic self-determination when it comes to the poor. In Poverty Traps, Samuel Bowles, Steven Durlauf, Karla Hoff, and the book's other contributors argue that there are many conditions that may trap individuals, groups, and whole economies in intractable poverty. For the first time the editors have brought together the perspectives of economics, economic history, and sociology to assess what we know--and don't know--about such traps. Among the sources of the poverty of nations, the authors assign a primary role to social and political institutions, ranging from corruption to seemingly benign social customs such as kin systems. Many of the institutions that keep nations poor have deep roots in colonial history and persist long after their initial causes are gone. Neighborhood effects--influences such as networks, role models, and aspirations--can create hard-to-escape pockets of poverty even in rich countries. Similar individuals in dissimilar socioeconomic environments develop different preferences and beliefs that can transmit poverty or affluence from generation to generation. The book presents evidence of harmful neighborhood effects and discusses policies to overcome them, with attention to the uncertainty that exists in evaluating such policies.

Messy

Author: Tim Harford
Publisher: Penguin
ISBN: 1594634793
Size: 41.20 MB
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Argues that messiness and creativity are connected and that unexpected experiences can help generate new ideas and opportunities.