By Geoffrey M. Hodgson
ISBN-10: 0226922715
ISBN-13: 9780226922713
Are people at their middle seekers in their personal excitement or cooperative contributors of society? sarcastically, they're either. Pleasure-seeking can occur in basic terms in the context of what works inside an outlined neighborhood, and relevant to any group are the developed codes and rules guiding applicable habit, or morality. The complicated interplay of morality and self-interest is on the center of Geoffrey M. Hodgson’s method of evolutionary economics, that's designed to lead to a greater figuring out of human behavior.
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Additional info for From Pleasure Machines to Moral Communities: An Evolutionary Economics without Homo economicus
Sample text
Kontopoulos (1993) As in most sciences, the majority of economists do their work with little explicit reflection on the philosophical assumptions that underlie their research. 1 But the term is rarely defined with adequate precision. Some crucial ambiguities are explored in this chapter. Among these is the commonplace ambivalence over whether explanations should be in terms of individuals alone, or in terms of individuals plus relations between them. It is shown that a great deal hinges on this subtle and often overlooked distinction in explanantia.
Following Aristotle in his Politics, classical economists such as Smith and David Ricardo made a distinction between use-value and exchange-value. The concept of use-value was quite different from the subjective concept of utility or satisfaction. For Aristotle (1962, p. 41), use-value derived from the “proper use of the article” and not its value in exchange. As Karl Polanyi established, Aristotle saw use-value as an objective quality relating to the usefulness of an item for humankind (Polanyi, Arensberg, and Pearson 1957, pp.
Partly for these reasons, the complete triumph of Benthamite utilitarianism had to wait until the more democratic ethos of the twentieth century. Contrary to Benthamite utilitarianism, classical economists from Smith through Thomas Robert Malthus to John Stuart Mill found a place for “moral sentiments” and higher human values. When Malthus (1820, pp. ” Following Aristotle in his Politics, classical economists such as Smith and David Ricardo made a distinction between use-value and exchange-value.
From Pleasure Machines to Moral Communities: An Evolutionary Economics without Homo economicus by Geoffrey M. Hodgson
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