The Moral Economy
Book description
Why do policies and business practices that ignore the moral and generous side of human nature often fail?
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…
Why read it?
1 author picked The Moral Economy as one of their favorite books. Why do they recommend it?
This book asks policymakers to look beyond incentives when designing policies.
Whether we are trying do something at a personal level, such as have our children do chores, or achieve something much bigger, such as combat obesity, designing appropriate incentives (carrots or sticks) is generally believed to help us achieve our goals.
Bowles warns us that this view assumes that incentives and morality are independent and that such view is faulty. Numerous experimental evidence attests to his argument. In its stead, he suggests shaping norms as a much more viable option.
When I presented these concepts in my economics elective…
From Shikha's list on the foundations of conflict, war, and peace economics.
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