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The recent era of economic turbulence has generated a growing
enthusiasm for an increase in new and original economic insights
based around the concepts of reciprocity and social enterprise.
This stimulating and thought-provoking Handbook not only encourages
and supports this growth, but also emphasises and expands upon new
topics and issues within the economics discourse. Original
contributions from key international experts acknowledge and
illustrate that markets and firms can be civilizing forces when and
if they are understood as expressions of cooperation and civil
virtues. They provide an illuminating discourse on a wide range of
topics including reciprocity, gifts and the civil economy, which
are especially relevant in times of crisis for financial
capitalism. The Handbook questions the current phase of the market
economy that arises from a state of anthropological pessimism. Such
anthropological cynicism is one of the foundations of the
contemporary economic system that is challenged by the
contributors. This highly original and interdisciplinary Handbook
will provide a fascinating read for academics, researchers and
students across a wide range of fields including economics, public
sector economics, public policy and social policy. Contributors
include: R. Abramovay, H. Alford, A. Andreoni, A. Argandona, A.
Barrera, L. Becchetti, N. Bellanca, E. Bortoluzzi Dubach, C.
Borzaga, L. Bouckaert, S. Bowles, A. Brandolini, A. Caille, J.
Davis, J. Defourny, L. Faulk, B. Frey, H. Gintis, L. Gold, B. Gui,
A. Habisch, S. Hargreaves-Heap, D. Jones, P. Kalmi, E. Khalil, S.
Kolm, C. Loza Adaui, J. Mercier Ythier, S. Neckermann, V. Negri, A.
Offer, A. Pabst, G.R. Pearce, V. Pelligra, P.L. Porta, P.L. Sacco,
L. Sacconi, A. Smerilli, A.J. Uelmen, P. Vanin, B.M. Wilson, L.
Zarri, D.J. Zizzo
This title appears exactly 20 years after the publication of
Altruism, Morality and Economic Theory, an important volume edited
by E.S. Phelps which contains the proceeding of a conference where
social scientists and philosophers met to speculate on the roles
that altruism and morality play in shaping human behaviour and
economic institutions within our societies. Until recently this
discipline was considered of minor importance - now there is clear
evidence of its growing interest.This an important volume contains
the major articles on the economics of altruism published since
1975. The articles are grouped under 6 headings: the emergence of
altruistic behaviour, varieties of altruism, the relevance of
altruism and selfishness, altruism and allocation of resources,
evolutionary dynamics of altruism, extended rationality and
altruistic behaviour. The Economics of Altruism will be welcomed by
all those with an interest in economics, philosophy, psychology and
sociology.
The recent era of economic turbulence has generated a growing
enthusiasm for an increase in new and original economic insights
based around the concepts of reciprocity and social enterprise.
This stimulating and thought-provoking Handbook not only encourages
and supports this growth, but also emphasises and expands upon new
topics and issues within the economics discourse. Original
contributions from key international experts acknowledge and
illustrate that markets and firms can be civilizing forces when and
if they are understood as expressions of cooperation and civil
virtues. They provide an illuminating discourse on a wide range of
topics including reciprocity, gifts and the civil economy, which
are especially relevant in times of crisis for financial
capitalism. The Handbook questions the current phase of the market
economy that arises from a state of anthropological pessimism. Such
anthropological cynicism is one of the foundations of the
contemporary economic system that is challenged by the
contributors. This highly original and interdisciplinary Handbook
will provide a fascinating read for academics, researchers and
students across a wide range of fields including economics, public
sector economics, public policy and social policy. Contributors
include: R. Abramovay, H. Alford, A. Andreoni, A. Argandona, A.
Barrera, L. Becchetti, N. Bellanca, E. Bortoluzzi Dubach, C.
Borzaga, L. Bouckaert, S. Bowles, A. Brandolini, A. Caille, J.
Davis, J. Defourny, L. Faulk, B. Frey, H. Gintis, L. Gold, B. Gui,
A. Habisch, S. Hargreaves-Heap, D. Jones, P. Kalmi, E. Khalil, S.
Kolm, C. Loza Adaui, J. Mercier Ythier, S. Neckermann, V. Negri, A.
Offer, A. Pabst, G.R. Pearce, V. Pelligra, P.L. Porta, P.L. Sacco,
L. Sacconi, A. Smerilli, A.J. Uelmen, P. Vanin, B.M. Wilson, L.
Zarri, D.J. Zizzo
`Cooperatives stem from interchanges in day-to-day life; and have
the capacity to extend their reach to cover economic exchanges
across time and space. They offer a complementary form of
relationships to the ones economists typically study and favour. A
culmination of years of research, this book quite magnificently
explains and persuasively advocates a much neglected institution.'
- Sir Partha Dasgupta, University of Cambridge, UK This eloquent
book analyses the theory of the cooperative form of enterprise from
an historic perspective, whilst assessing its appeal in the current
economic environment. The authors show that cooperatives are
enterprises acting in harmony in the market economy, and explore
the following questions: * How do cooperatives achieve solidarity
in keeping together elements normally considered in conflict? * Why
is the cooperative enterprise not as widespread as the capitalist
enterprise? * What is its appeal in the present conditions of
crisis of the world economy? Alongside other related issues, the
volume also discusses the theoretical foundations of the
cooperative enterprise and offers an overview of the historical
development of the cooperative movement around the world. Special
reference is made to the Italian case, which is scarcely known
within the international milieu. Broad in scope whilst concise in
elucidation, this book will be invaluable to students enrolled in
economic, social, historical and political curricula, as well as
leaders of the cooperative movement. People interested in finding a
practical alternative to the capitalist form of enterprise will
also find this book enriching.
`Cooperatives stem from interchanges in day-to-day life; and have
the capacity to extend their reach to cover economic exchanges
across time and space. They offer a complementary form of
relationships to the ones economists typically study and favour. A
culmination of years of research, this book quite magnificently
explains and persuasively advocates a much neglected institution.'
- Sir Partha Dasgupta, University of Cambridge, UK This eloquent
book analyses the theory of the cooperative form of enterprise from
an historic perspective, whilst assessing its appeal in the current
economic environment. The authors show that cooperatives are
enterprises acting in harmony in the market economy, and explore
the following questions: * How do cooperatives achieve solidarity
in keeping together elements normally considered in conflict? * Why
is the cooperative enterprise not as widespread as the capitalist
enterprise? * What is its appeal in the present conditions of
crisis of the world economy? Alongside other related issues, the
volume also discusses the theoretical foundations of the
cooperative enterprise and offers an overview of the historical
development of the cooperative movement around the world. Special
reference is made to the Italian case, which is scarcely known
within the international milieu. Broad in scope whilst concise in
elucidation, this book will be invaluable to students enrolled in
economic, social, historical and political curricula, as well as
leaders of the cooperative movement. People interested in finding a
practical alternative to the capitalist form of enterprise will
also find this book enriching.
No question has more intrigued the minds of scholars of economic
thought throughout history than that of the nature and meaning of
time. The articles in this insightful collection attempt to provide
satisfactory answers to fundamental issues on the use of time in
economic theory. These volumes bring together the most important
contributions on the subject, ranging from issues about the
allocation of time, theory of choice, preference reversal and time
in equilibrium to the issues of irreversibility, complex systems
and the role of time.This comprehensive collection will be of great
interest to researchers and students alike.
Global financial capitalism has eroded the moral economy on which
all economic exchanges ultimately depend. The principles of
reciprocity, responsibility and redistribution, which for centuries
defined the market place, have been increasingly pushed aside by a
growth model that places the pursuit of profit above all else.
Luigino Bruni and Stefano Zamagni draw on a rich Italian tradition
of civic humanism to advocate a more well-mannered type of economic
market a civil economy one that places well-being, virtue and the
common good alongside more familiar economic goals. They provide a
succinct introduction to the civil economy approach and outline the
thought and ideas of some of its pioneers and main representatives.
The many different fields of application of the civil economy, from
the determination of gross domestic product to the management of
common goods, from welfare to the organization of production and
consumption, are considered. Unlike many post-growth or degrowth
movements, rather than seek to replace the market, civil economy
seeks to find solutions to social problems within the market, while
maximizing human values and minimizing government intervention. It
is a distinct and valuable approach, and one that offers
individuals, corporations and governments a framework for a humane
and socially accountable, yet productive and competitive, system of
markets.
Global financial capitalism has eroded the moral economy on which
all economic exchanges ultimately depend. The principles of
reciprocity, responsibility and redistribution, which for centuries
defined the market place, have been increasingly pushed aside by a
growth model that places the pursuit of profit above all else.
Luigino Bruni and Stefano Zamagni draw on a rich Italian tradition
of civic humanism to advocate a more well-mannered type of economic
market a civil economy one that places well-being, virtue and the
common good alongside more familiar economic goals. They provide a
succinct introduction to the civil economy approach and outline the
thought and ideas of some of its pioneers and main representatives.
The many different fields of application of the civil economy, from
the determination of gross domestic product to the management of
common goods, from welfare to the organization of production and
consumption, are considered. Unlike many post-growth or degrowth
movements, rather than seek to replace the market, civil economy
seeks to find solutions to social problems within the market, while
maximizing human values and minimizing government intervention. It
is a distinct and valuable approach, and one that offers
individuals, corporations and governments a framework for a humane
and socially accountable, yet productive and competitive, system of
markets.
This authoritative three volume set brings together the most
important published papers on the economic analysis of corruption
and illegal markets. It ranges from theoretical issues explaining
the nature of corruption to analogies between governments
regulating legal markets and organised crime ruling over illegal
markets. Particular attention is paid to the effects of standard
public policies, such as standard controls or quality standards, on
the development of shadow and illegal markets, and consequently on
the incentives to invest in bribery and extortion. The book
highlights the consequences of corruption both for the efficiency
of a market system and on the long run growth of the economy with
special reference to developing countries.
The Microeconomics of Wellbeing and Sustainability: Recasting the
Economic Process explores the civil economy tradition in economic
thought. Gaining increasing consensus worldwide, this
alternative-not heterodox-view of the economic process and agents
explains how modern economics is placing increasing emphasis on the
determinants of subjective wellbeing and environmental
sustainability. With support from behavioral economics, this book
makes a foundational contribution that will help users better
understand and prepare for future economic challenges.
Sir John Hicks (1904 1989) was a leading economic theorist of the
twentieth century, and along with Kenneth Arrow was awarded the
Nobel Prize in 1972. His work addressed central topics in economic
theory, such as value, money, capital and growth. An important
unifying theme was the attention for economic rationality 'in time'
and his acknowledgement that apparent rigidities and frictions
might exert a positive role as a buffer against excessive
fluctuations in output, prices and employment. This emphasis on the
virtue of imperfection significantly distances Hicksian economics
from both the Keynesian and Monetarist approaches. Containing
contributions from distinguished theorists in their own right
(including three Nobel Prize winners), this volume examines Hicks's
intellectual heritage and discusses how his ideas suggest a
distinct approach to economic theory and policy making. It will be
of great interest to scholars and students of economic theory and
the history of economic thought.
This volume has a double purpose. First of all, it follows an
Italian tradition of thought that began in the 15th and 16th
centuries as Civic Humanism and continued up until the golden
period of Italian Enlightenment as represented by the Schools of
Milan and Naples. Its main contribution to the history of economic
thought is its conception of the market as a place centered on the
principle of reciprocity and civil virtues. This book explains why
the civil approach to economics disappeared from cultural debates,
scientific enquiries and the public arena at the end of the 18th
century, only to surface again in more recent times. Secondly, the
book draws attention to a new reading of the whole of economic
reality. Indeed, the civil economy in one sense is mainly a
cultural perspective from which it is possible to interpret the
entire economic discourse. If a theory is considered as
substantially a point of view on reality, then this cultural
perspective can also set the basis for a diverse economic theory.
Where does the key element of such diversity lie? It lies in the
attempt to integrate within the economic system the three basic
principles of any social order: the principle of exchange of
equivalents, the principle of redistribution and the principle of
reciprocity. Though this book draws on the history of economic
ideas, it focuses on the present day from an ancient perspective in
order to find convincing answers to the new questions arising in
the era of globalization.
This book provides a comprehensive overview of the development of
economics from its beginnings, at the end of the Middle Ages, up to
contemporary developments. It is strong on contemporary theory,
providing extensive coverage of the twentieth century, particularly
since the Second World War. The second edition has been revised and
updated to take account of new developments in economic thought.
Sir John Hicks (1904 1989) was a leading economic theorist of the
twentieth century, and along with Kenneth Arrow was awarded the
Nobel Prize in 1972. His work addressed central topics in economic
theory, such as value, money, capital and growth. An important
unifying theme was the attention for economic rationality 'in time'
and his acknowledgement that apparent rigidities and frictions
might exert a positive role as a buffer against excessive
fluctuations in output, prices and employment. This emphasis on the
virtue of imperfection significantly distances Hicksian economics
from both the Keynesian and Monetarist approaches. Containing
contributions from distinguished theorists in their own right
(including three Nobel Prize winners), this volume examines Hicks's
intellectual heritage and discusses how his ideas suggest a
distinct approach to economic theory and policy making. It will be
of great interest to scholars and students of economic theory and
the history of economic thought.
This book provides a comprehensive and analytical overview of the
development of economic theory from its beginnings, at the end of
the Middle Ages, up to contemporary contributions. Traditional
theories are presented as living matter, and modern theories are
presented as part of a historical process and not as established
truths. In this way, the book avoids the dangerous dichotomy
between pure historians of thought who dedicate themselves
exclusively to studying facts, and pure theorists who are
interested in the evolution of the logical structure of theories.
The second edition contains several changes and additions. The
authors give due consideration to the "civil economy" perspective
developed during Humanism and the Renaissance. The section on Adam
Smith has been considerably extended and improved. The treatment of
the post-keynesian approach has been separated from "new keynesian
macroeconomics". Finally, a new chapter has been added to review
the most recent developments in the economic discourse in the light
of globalization and the new technological trajectory.
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