Moral Markets

The Critical Role of Values in the Economy

Buch | Softcover

392 Seiten

2008
Princeton University Press (Verlag)
978-0-691-13523-6 (ISBN)

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Argues that market exchange works only because most people, most of the time, act virtuously. This book shows how the rules of market exchange have evolved to promote moral behavior and how exchange itself may make us more virtuous. It examines the biological basis of economic morality and traces the connections between morality and markets.

Like nature itself, modern economic life is driven by relentless competition and unbridled selfishness. Or is it? Drawing on converging evidence from neuroscience, social science, biology, law, and philosophy, Moral Markets makes the case that modern market exchange works only because most people, most of the time, act virtuously. Competition and greed are certainly part of economics, but Moral Markets shows how the rules of market exchange have evolved to promote moral behavior and how exchange itself may make us more virtuous. Examining the biological basis of economic morality, tracing the connections between morality and markets, and exploring the profound implications of both, Moral Markets provides a surprising and fundamentally new view of economics--one that also reconnects the field to Adam Smith's position that morality has a biological basis. Moral Markets, the result of an extensive collaboration between leading social and natural scientists, includes contributions by neuroeconomist Paul Zak; economists Robert H.
Frank, Herbert Gintis, Vernon Smith (winner of the 2002 Nobel Prize in economics), and Bart Wilson; law professors Oliver Goodenough, Erin O'Hara, and Lynn Stout; philosophers William Casebeer and Robert Solomon; primatologists Sarah Brosnan and Frans de Waal; biologists Carl Bergstrom, Ben Kerr, and Peter Richerson; anthropologists Robert Boyd and Michael Lachmann; political scientists Elinor Ostrom and David Schwab; management professor Rakesh Khurana; computational science and informatics doctoral candidate Erik Kimbrough; and business writer Charles Handy.

Paul J. Zak is founding director of the Center for Neuroeconomics Studies and professor of economics at Claremont Graduate University. Zak also serves as professor of neurology at Loma Linda University Medical Center and senior researcher at UCLA.

Foreword by Michael C. Jensen ix Introduction by Paul J. Zak xi Preface: Is Free Enterprise Values in Action? by Oliver R. Goodenough and Monika Gruter Cheney xiii Acknowledgments xxxi List of Contributors xxxiii PART I: PHILOSOPHICAL FOUNDATIONS OF VALUES Chapter One: The Stories Markets Tell: Affordances for Ethical Behavior in Free Exchange by William D. Casebeer 3 Chapter Two: Free Enterprise, Sympathy, and Virtue by Robert C. Solomon 16 Chapter Three: The Status of Moral Emotions in Consequentialist Moral Reasoning by Robert H. Frank 42 PART II: NONHUMAN ORIGINS OF VALUES Chapter Four: How Selfish an Animal? The Case of Primate Cooperation by Frans B. M. de Waal 63 Chapter Five: Fairness and Other-Regarding Preferences in Nonhuman Primates by Sarah F. Brosnan 77 PART III: THE EVOLUTION OF VALUES AND SOCIETY Chapter Six: The Evolution of Free Enterprise Values by Peter J. Richerson and Robert Boyd 107 Chapter Seven: Building Trust by Wasting Time by Carl Bergstrom, Ben Kerr, and Michael Lachmann 142 PART IV: VALUES AND THE LAW Chapter Eight: Taking Conscience Seriously by Lynn A. Stout 157 Chapter Nine: Trustworthiness and Contract by Erin Ann O'Hara 173 Chapter Ten: The Vital Role of Norms and Rules in Maintaining Open Public and Private Economies by David Schwab and Elinor Ostrom 204 Chapter Eleven: Values, Mechanism Design, and Fairness by Oliver R. Goodenough 228 PART V: VALUES AND THE ECONOMY Chapter Twelve: Values and Value: Moral Economics by Paul J. Zak 259 Chapter Thirteen: Building a Market: From Personal to Impersonal Exchange by Erik O. Kimbrough, Vernon L. Smith, and Bart J. Wilson 280 Chapter Fourteen: Corporate Honesty and Business Education: A Behavioral Model by Herbert Gintis and Rakesh Khurana 300 Chapter Fifteen: What's a Business For? by Charles Handy 328 Index 339

Erscheint lt. Verlag	10.2.2008
Vorwort	Michael C. Jensen
Zusatzinfo	12 halftones. 12 line illus. 7 tables.
Verlagsort	New Jersey
Sprache	englisch
Maße	152 x 235 mm
Gewicht	539 g
Themenwelt	Wirtschaft ► Volkswirtschaftslehre
ISBN-10	0-691-13523-1 / 0691135231
ISBN-13	978-0-691-13523-6 / 9780691135236
Zustand	Neuware