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A Genealogy of Self-Interest in Economics

A Genealogy of Self-Interest in Economics
Author: Susumu Egashira
Publisher: Springer Nature
Total Pages: 321
Release: 2021-01-29
Genre: Business & Economics
ISBN: 9811593957

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This is the first book to describe the entire developmental history of the human aspects of economics. The issue of “self-interest” is discussed throughout, from pre-Adam Smith to contemporary neuroeconomics, representing a unique contribution to economics. Though the notion of self-interest has been interpreted in several ways by various schools of economics and economists since Smith first placed it at the heart of the field, this is the first book to focus on this important but overlooked topic. Traditionally, economic theory has presupposed that the core of human behavior is self-interest. Nevertheless, some economists, e.g. recent behavioral economists, have cast doubt on this “self-interested” explanation. Further, though many economists have agreed on the central role of self-interest in economic behavior, each economist’s positioning of self-interest in economic theory differs to some degree. This book helps to elucidate the position of self-interest in economic theory. Given its focus, it is a must-read companion, not only on the history of economic thought but also on economic theory. Furthermore, as today’s capitalism is increasingly causing people to wonder just where self-interest lies, it also appeals to general readers.


A Genealogy of Self-Interest in Economics

A Genealogy of Self-Interest in Economics
Author: Susumu Egashira
Publisher:
Total Pages: 0
Release: 2021
Genre:
ISBN: 9789811593963

Download A Genealogy of Self-Interest in Economics Book in PDF, ePub and Kindle

This is the first book to describe the entire developmental history of the human aspects of economics. The issue of "self-interest" is discussed throughout, from pre-Adam Smith to contemporary neuroeconomics, representing a unique contribution to economics. Though the notion of self-interest has been interpreted in several ways by various schools of economics and economists since Smith first placed it at the heart of the field, this is the first book to focus on this important but overlooked topic. Traditionally, economic theory has presupposed that the core of human behavior is self-interest. Nevertheless, some economists, e.g. recent behavioral economists, have cast doubt on this "self-interested" explanation. Further, though many economists have agreed on the central role of self-interest in economic behavior, each economist's positioning of self-interest in economic theory differs to some degree. This book helps to elucidate the position of self-interest in economic theory. Given its focus, it is a must-read companion, not only on the history of economic thought but also on economic theory. Furthermore, as today's capitalism is increasingly causing people to wonder just where self-interest lies, it also appeals to general readers.


Self-Interest before Adam Smith

Self-Interest before Adam Smith
Author: Pierre Force
Publisher: Cambridge University Press
Total Pages: 300
Release: 2003-09-04
Genre: Philosophy
ISBN: 1139436996

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Self-Interest before Adam Smith inquires into the foundations of economic theory. It is generally assumed that the birth of modern economic science, marked by the publication of The Wealth of Nations in 1776, was the triumph of the 'selfish hypothesis' (the idea that self-interest is the motive of human action). Yet, as a neo-Epicurean idea, this hypothesis had been a matter of controversy for over a century and Smith opposed it from a neo-Stoic point of view. But how can the Epicurean principles of orthodox economic theory be reconciled with the Stoic principles of Adam Smith's philosophy? Pierre Force shows how Smith's theory refutes the 'selfish hypothesis' and integrates it at the same time. He also explains how Smith appropriated Rousseau's 'republican' critique of modern commercial society, and makes the case that the autonomy of economic science is an unintended consequence of Smith's 'republican' principles.


Historicizing Self-Interest in the Modern Atlantic World

Historicizing Self-Interest in the Modern Atlantic World
Author: Christine Zabel
Publisher: Routledge
Total Pages: 302
Release: 2021-03-15
Genre: Business & Economics
ISBN: 1000364070

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This volume historicizes the use of the notion of self-interest that at least since Bernard de Mandeville and Adam Smith’s theories is considered a central component of economic theory. Having in the twentieth century become one of the key-features of rational choice models, and thus is seen as an idealized trait of human behavior, self-interest has, despite Albert O. Hirschman’s pivotal analysis of self-interest, only marginally been historicized. A historicization(s) of self-interest, however, offers new insights into the concept by asking why, when, for what reason and in which contexts the notion was discussed or referred to, how it was employed by contemporaries, and how the different usages developed and changed over time. This helps us to appreciate the various transformations in the perception of the notion, and also to explore how and in what ways different people at different times and in different regions reflected on or realized the act of considering what was in their best interest. The volume focuses on those different usages, knowledges, and practices concerned with self-interest in the modern Atlantic World from the seventeenth to twentieth centuries, by using different approaches, including political and economic theory, actuarial science, anthropology, or the history of emotions. Offering a new perspective on a key component of Western capitalism, this is the ideal resource for researches and scholars of intellectual, political and economic history in the modern Atlantic World.


A Tale of Two Capitalisms

A Tale of Two Capitalisms
Author: Supritha Rajan
Publisher: University of Michigan Press
Total Pages: 363
Release: 2023-11-29
Genre: Business & Economics
ISBN: 0472904329

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No questions are more pressing today than the ethical dimensions of global capitalism in relation to an unevenly secularized modernity. A Tale of Two Capitalisms offers a timely response to these questions by reexamining the intellectual history of capitalist economics during the nineteenth century. Rajan’s ambitious book traces the neglected relationships between nineteenth-century political economy, anthropology, and literature in order to demonstrate how these discourses buttress a dominant narrative of self-interested capitalism that obscures a submerged narrative within political economy. This submerged narrative discloses political economy’s role in burgeoning theories of religion, as well as its underlying ethos of reciprocity, communality, and just distribution. Drawing on an impressive range of literary, anthropological, and economic writings from the eighteenth through the twenty-first century, Rajan offers an inventive, interdisciplinary account of why this second narrative of capitalism has so long escaped our notice. The book presents an unprecedented genealogy of key anthropological and economic concepts, demonstrating how notions of sacrifice, the sacred, ritual, totemism, and magic remained conceptually intertwined with capitalist theories of value and exchange in both sociological and literary discourses. Rajan supplies an original framework for discussing the ethical ideals that continue to inform contemporary global capitalism and its fraught relationship to the secular. Its revisionary argument brings new insight into the history of capitalist thought and modernity that will engage scholars across a variety of disciplines.


Late Neoclassical Economics

Late Neoclassical Economics
Author: Yahya M. Madra
Publisher: Routledge
Total Pages: 218
Release: 2016-06-10
Genre: Business & Economics
ISBN: 1317813111

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Several contemporary economic theories revolve around different concepts: market failures, institutions, transaction costs, information asymmetries, motivational diversity, cognitive limitations, strategic behaviors and evolutionary stability. In recent years, many economists have argued that the increase in circulation and mobilization of these new and heterogeneous concepts and their associated methodologies (e.g., experiments, evolutionary modelling, simulations) signify the death of neoclassical economics. Late Neoclassical Economics: The Restoration of Theoretical Humanism in Contemporary Economic Theory draws on the work of Louis Althusser, Michel Foucault and the Amherst School, to construct the concept of a self-transparent and self-conscious human subject (Homo economicus) as the theoretical humanist core of the neoclassical tradition. Instead of identifying the emergent heterogeneity as a break from neoclassicism, this book offers a careful genealogy of many of the new concepts and approaches - including evolutionary game theory, experimental economics and behavioural economics - and reads their elaboration as part of the restoration of the theoretical humanist core of the tradition. ‘Late neoclassical economics’ is therefore characterized as a collection of diverse approaches which have emerged in response to the drift towards structuralism. This book is suitable for those who study political economy, history of economic thought and philosophy of economics. The arguments put forward in this text will also resonate with anyone who is interested in the fate of the neoclassical tradition and the future of economic theory.


Greed, Self-Interest and the Shaping of Economics

Greed, Self-Interest and the Shaping of Economics
Author: Rudi Verburg
Publisher: Routledge
Total Pages: 216
Release: 2018-03-15
Genre: Business & Economics
ISBN: 1351977792

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Since 2008, profound questions have been asked about the driving forces and self-regulating potential of the economic system, political control and morality. With opinion turning against markets and self-interest, economists found themselves on the wrong side of the argument. This book explores how the past of economics can contribute to today’s debates. The book considers how economics took shape as philosophers probed into the viability of commercial society and its potential to generate positive-sum outcomes. It explains how dreams of affluence, morality and happiness were built upon human greed and vanity. It covers the bumpy road of the construction and reconstruction of this dream, exploring the debate on the foundations, conditions and limitations of the idea of the social utility of greed and vanity. Revisiting this debate provides a rich source of ideas in rethinking economics and the basic beliefs concerning our economic system today.


Capitalism and Desire

Capitalism and Desire
Author: Todd McGowan
Publisher: Columbia University Press
Total Pages: 305
Release: 2016-09-20
Genre: Philosophy
ISBN: 0231542216

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Despite creating vast inequalities and propping up reactionary world regimes, capitalism has many passionate defenders—but not because of what it withholds from some and gives to others. Capitalism dominates, Todd McGowan argues, because it mimics the structure of our desire while hiding the trauma that the system inflicts upon it. People from all backgrounds enjoy what capitalism provides, but at the same time are told more and better is yet to come. Capitalism traps us through an incomplete satisfaction that compels us after the new, the better, and the more. Capitalism's parasitic relationship to our desires gives it the illusion of corresponding to our natural impulses, which is how capitalism's defenders characterize it. By understanding this psychic strategy, McGowan hopes to divest us of our addiction to capitalist enrichment and help us rediscover enjoyment as we actually experienced it. By locating it in the present, McGowan frees us from our attachment to a better future and the belief that capitalism is an essential outgrowth of human nature. From this perspective, our economic, social, and political worlds open up to real political change. Eloquent and enlivened by examples from film, television, consumer culture, and everyday life, Capitalism and Desire brings a new, psychoanalytically grounded approach to political and social theory.


The Nobel Factor

The Nobel Factor
Author: Avner Offer
Publisher: Princeton University Press
Total Pages: 344
Release: 2019-11-19
Genre: Business & Economics
ISBN: 0691196311

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How the creation of the Nobel Prize in Economics changed the economics profession, Sweden, and the world Our confidence in markets comes from economics, and our confidence in economics is underpinned by the Nobel Prize in Economics, which was first awarded in 1969. Was it a coincidence that the prize and the rise of free-market liberalism began at the same time? The Nobel Factor is the first book to describe the origins and power of the most important prize in economics. It tells how the prize, created by the Swedish central bank, emerged from a conflict between central bank orthodoxy and Sweden's social democracy. The aim was to use the halo of the Nobel brand to influence the future of Sweden and the rest of the developed world by enhancing the bank's authority and the prestige of market-friendly economics. And the strategy has worked spectacularly—with sometimes disastrous results for societies striving to cope with the requirements of economic theory and deregulated markets. Drawing on previously untapped archives and providing a unique analysis of the sway of prizewinners, The Nobel Factor offers an unprecedented account of the real-world consequences of economics and its greatest prize.