Document Type

Article

Date

6-21-2011

Embargo Period

9-17-2012

Keywords

Social Norms, Ethics, Adam Smith, Crisis, Recession, History, Distribution

Disciplines

Economics

Description/Abstract

The piece begins with the proposition that the economic perspective on human activity must reflect the fact that human beings transact in a world defined for the actors by social norms. An analysis of the crisis of 2008 is offered as a demonstration of the value of adopting such a broader perspective. Part two offers a historical model based on Adam Smith’s Moral Philosophy of such a broader analysis. The piece closes with the case that the history of ideas offers alternative perspectives on the questions we explore in economics today and thus can serve as a valuable resource for constructive skepticism of the current discourse.

Source

harvested from SSRN

Creative Commons License

Creative Commons License
This work is licensed under a Creative Commons Attribution 3.0 License.

Included in

Economics Commons

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