Words Objects And Events In Economics

This open access book examines from a variety of perspectives the disappearance of moral content and ethical judgment from the models employed in the formulation of modern economic theory, and some of the papers contain important proposals about how moral judgment could be reintroduced in economic theory. The chapters collected in this volume result from the favorable reception of the first volume of the Virtues in Economics series and represent further contributions to the themes set out in that volume: (i) examining the philosophical and methodological fallacies of this turn in modern economic theory that the removal of the moral motivation of economic agents from modern economic theory has entailed; and (ii) proposing a return descriptive economics as the means with which the moral content of economic life could be restored in economic theory. This book is of interest to researchers and students of the methodology of economics, ethics, philosophers concerned with agency and economists who build economic models that rest in the intention of the agent.

The books’ goal is to answer the question: Do the weaknesses of value-free economics imply the need for a paradigm shift? The author synthesizes criticisms from different perspectives (descriptive and methodological). Special attention is paid to choices over time, because in this area value-free economics has the most problems. In that context, the enriched concept of multiple self is proposed and investigated. However, it is not enough to present the criticisms towards value-free economics. For scientists, a bad paradigm is better than no paradigm. Therefore, the author considers whether value-based economics with normative approaches such as economics of happiness, capability approach, libertarian paternalism, and the concept of multiple self can be the alternative paradigm for value-free economics. This book is essential reading to everyone interested in the current state of economics as a discipline.

Human Nature in Modern Economics offers a precise definition of the concept of human nature in economics, something that is so far lacking in the theoretical and methodological literature. This book develops tools for the analysis of human nature through the construction of the author’s meta-model – based on anthropological and psychological foundations – allowing for comparisons of anthropological assumptions made in economic theories. The model demonstrates that the normative functions of human nature may affect the economic reality. The chapters argue that the concept of human nature determines our thinking about the economy and economics, including fundamental methodologies, methods and theories. Thus, the differences between various economic schools may result from the different assumptions of these schools about human nature. Those evolving views of human nature proceed to explain the development of both orthodox (mainstream) and heterodox economics. The book marks a significant addition to the literature on the history of economic thought, heterodox economics, economic theory and economic methodology. For students, it is a supplement to standard textbooks as it explains the current state of economics, especially in its heterodox branches. It will allow scholars to discover the importance of what they assume about human nature and how it may influence their research process.

This book explores the deep meaning—the nature or essence—of the economy and its fundamental components. As a monograph on the philosophy of the economy and economics, it deduces the metaphysical nature of these two, going step by step from more general to more specific realities to finally arrive at the adequate features of the economic sciences and their methods. It builds on a largely Aristotelian approach, but also draws extensively from modern scholarship in the area. Usefully and pertinently, the book covers both general aspects of the economy and particular historically specific features. Among the important topics covered in the book are the meanings of the economy, the nature and role of economic agents, the nature of the macroeconomy, the nature and role of money, and so on. The book concludes with chapters on the nature of economics itself and its methodologies.

Commons opened Institutional Economics by declaring: ""My point of view is based on my participation in collective activities, from which I here derive a theory of the part played by collective action in control of individual action."" This sentence well summarizes the three key elements of this book--its theoretical intent, the importance Commons gave to his own experience in institutional reform in shaping these ideas, and the focus on the concept of the institution as a collective constraint on individual action.

Commons opened Institutional Economics by declaring: "My point of view is based on my participation in collective activities, from which I here derive a theory of the part played by collective action in control of individual action." This sentence well summarizes the three key elements of this book--its theoretical intent, the importance Commons gave to his own experience in institutional reform in shaping these ideas, and the focus on the concept of the institution as a collective constraint on individual action.

In the face of climate change and resulting environmental and social crises, sustainable consumption has become a widely discussed issue and a key plank of the UN’s Sustainable Development Goals (SDGs). The majority of the sustainable consumption research uses the SDG framework, but this only serves to reinforce an individualistic, efficiency-based approach and it does not sufficiently cover the specific situation of transition economies. In contrast, this volume promotes a collective approach to sustainable consumption, and combines general theoretical issues with empirical examples from the Polish economy. The first part of the book presents a theoretical approach to collective consumption which has the core concepts of justice and human nature at its heart. This approach emphasises the role of collective rationality and categorises aspects of sustainable consumption as a common and public good. The second part investigates diversified aspects of sustainability, including socio-economic inequalities as barriers to sustainable consumption, consumer sovereignty in the context of current legal regulations, and the impact on employees of changes to the types and conditions of work. It also examines the sharing economy and the legal conditions of its development. The third part adopts a political perspective focusing on the state policies enhancing the role of investment in public goods, analyses photovoltaic programmes which promote prosumption and indicates challenges to sustainability faced by many countries such as the energy crisis, sustainable finance, and cooperative platforms. This book will be of great interest to researchers and scholars interested in sustainability and consumption issues in economics, management, law, public administration, and political science.

This book highlights the relevance of the grand traditions of the humanities as an untapped resource for business-world problems. In a time where the humanities are viewed as in decline or in threat of collapse altogether, this book enacts and extends the best of the humanities toward prevailing challenges within the complex realities of our current cultural moment. The book presents how the humanities can contribute to humanizing business and management. It explores and discusses various ways to integrate the views and approaches of the humanities in business and management research, practice, and education responding to the unprecedented challenges of the Anthropocene. The relations between humanities and social sciences is also discussed, as models and theories of business and management are based on insights of social sciences. The book is an outcome of the “Humanities for Business” project of Princeton University Faith and Work Initiative, the European SPES Institute, Leuven, and the Business Ethics Center of Corvinus University of Budapest. It is of great value to researchers, students, policy makers and research institutions interested in using humanities for renewing and humanizing business and management.