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Michael Pettis - Economic consequences of income inequality - March 2014
Back to basics and the undercinsumption model that shows why it's necessary to save capitalism from itself -- I will again quote Mariner Eccles, from his 1933 testimony to Congress, in which he was himself quoting with approval an unidentified economist, probably William Trufant Foster. In his testimony he said:

It is utterly impossible, as this country has demonstrated again and again, for the rich to save as much as they have been trying to save, and save anything that is worth saving. They can save idle factories and useless railroad coaches; they can save empty office buildings and closed banks; they can save paper evidences of foreign loans; but as a class they cannot save anything that is worth saving, above and beyond the amount that is made profitable by the increase of consumer buying.

It is for the interests of the well-to-do – to protect them from the results of their own folly – that we should take from them a sufficient amount of their surplus to enable consumers to consume and business to operate at a profit. This is not “soaking the rich”; it is saving the rich. Incidentally, it is the only way to assure them the serenity and security which they do not have at the present moment.
trade-policy  Great_Depression  china  economic_history  Eurozone  international_political_economy  EF-add  savings  Great_Recession  investment  Germany  global_economy  trade-theory  economic_theory  unemployment  consumer_demand  inequality 
april 2016 by Werderbach
Matt Bruening - What Larry Summers Gets Wrong On Piketty's 'Capital' | Demos May 15 2014
Does Piketty argue that if r > g , then the wealth-to-income ratio will rise? Or does Piketty argue that the wealth-to-income ratio moves towards s/g (savings rate divided by the growth rate)? Summers has him saying both! Despite Summers' first sentence, Piketty does not use "r > g" to explain the wealth-to-income ratio. He explains the wealth-to-income ratio solely by s/g. If the savings rate of an economy is 5% and the growth rate is 1%, then the wealth-to-income ratio will go to 5-to-1 and stay there at equilibrium. This is true whether r > g or not. Piketty does claim that the wealth-to-income ratio will increase, but it is based on this s/g logic. More specifically, he thinks the savings rate will probably stay where it is and growth will decline, and this will therefore cause s/g to get bigger.
investment  Piketty  savings  inequality  economic_models  economic_growth  EF-add  capital 
april 2016 by Werderbach
Branko Milanovic - globalinequality: Where I disagree and agree with Debraj Ray’s critique of Piketty’s Capital in the 21s Century - June 2014
Debraj’s error consists...in not realizing that normal capitalist relations of production (where capitalists tend to be rich) are forgotten when we look at economic laws in an abstract manner. Not doing that is precisely a great virtue of Piketty’s book. Surely, (a) if capital/labor proportions were the same across income distribution; (b) if, more extremely, capitalists were poor and workers rich; (c) if capital were state-owned, all of these contradictions would disappear. But none of (a)-(c) conditions holds in contemporary capitalism. So Piketty’s economic laws and contradictions of capitalism do exist. Where do I agree wit Debraj? That Kuznets curve cannot be easily dismissed. I am currently working on the idea that we are now witnessing the upswing of the 2nd Kuznets curve since the Industrial revolution. Moreover I believe this is not only the 2nd but perhaps 5th, 6th or 10th curve over the past 1000 years in the West. Does this agreement on Kuznets then, by itself, imply that my defense of Piketty’s mechanism cannot be right or consistent? Not at all. Piketty isolated the key features of capitalist inequality trends when they are left to themselves: the forces of divergence (inequality) will win. But there are also other forces: capital destruction, wars, confiscatory taxation, hyperinflation, pressure of trade unions, high taxation of capital, rising importance of labor and higher wages, that at different times go the other way, and, in a Kuznets-like fashion, drive inequality down. So, I believe, Piketty has beautifully uncovered the forces of divergence, mentioned some of the forces of convergence, but did not lay to rest the ghost of Kuznets inverted U shaped curve
savings  investment  reviews  political_economy  Great_Divergence  profit  consumers  wealth  labor  Europe-Early_Modern  Piketty  capitalism  inequality  Medieval  economic_theory  Marx  books  macroeconomics  Kuznets_curve  EF-add  rentiers  wages  cliometrics  economic_history  economic_growth  Renaissance 
april 2016 by Werderbach
Ada Palmer - Plato essay, #historypix, and the excessively exciting life of Pope Urban VIII - February 2016
Essay with pictures of a spectacular tapestry sequence in a corridor of the Vatican that's a perfect example of patronage, High Baroque, and Counter-Reformation iconography of legitimacy of authority of the Church hierarchy -- advancemeng of (classical) learning, military - new Fortress for Rome - mediator, peacekeeping within Christendom, straight pipeline to the heavens - both pagan and Christian -- a keeper!
Pocket  EF-add  17thC  art_history  Vatican  Rome  Papacy  baroque  iconography  Counter-Reformation  patronage-artistic  Papal_States  from pocket
february 2016 by dunnettreader
Samuel Moyn review of Larry Siedentop's Invention of the Individual" - Did Christianity Create Liberalism? | Boston Review
Very interesting re the (19thC) "French" approach to liberalism -- historicist stressing process, contingency. Contrast with Anglo-Saxon social contract that takes the individual as its (unexamined) premiss, as does economic theory based on satisfying individual preferences etc. LS wrote an important article on the French approach. So Moyn sees LS as working to update and revise Guizot. Problem is LS (and all those claiming Christianity the basis of individual "natural rights") can't explain how the next world focus of Jesus and Paul became a this-world focus with the role of the individual as foundational. Moyn critiques the steps LS takes starting with the moral revolution of Augustine and working through the Middle Ages.
theology  natural_law  France  Instapaper  liberty  medieval_history  political_philosophy  Augustine  Guizot  liberalism  social_theory  historiography-19thC  individualism  medieval_philosophy  reviews  EF-add  social_contract  Constant  books  natural_rights  intellectual_history  moral_philosophy  Augustinian  kindle-available  19thC  from instapaper
december 2015 by dunnettreader
Anne-Marie Thiesse, review - Sylvain Venayre on historians and The Myth of the French Nation - Books & ideas - March 2015 (French original 2013 - Instapaper)
Reviewed : Sylvain Venayre, Les Origines de la France. Quand les historien racontaient la nation, Paris, Le Seuil, collection L’Univers Historique, 2013, 430 p. -- review translated by Pascale Torracinta , -- Tags : nation | history | people | national identity -- Sylvain Venayre responds to politicians who, only yesterday, were asking historians to define national identity. With an exploration of the French nation’s roots, he deliberately shifts the question by proposing a history of how historians are themselves involved in the production of a collective identity. -- downloaded English translation pdf to Note -- French version saved to Instapaper
books  reviews  France  18thC  19thC  20thC  historiography-19thC  national_ID  nationalism  national_tale  national_origins  political_culture  political_nation  intellectual_history  professionalization  university  downloaded  EF-add  Instapaper 
april 2015 by dunnettreader
Stephen Bernard, ed. - The Literary Correspondences of the Tonsons - Oxford University Press
The Tonsons were the pre-eminent literary publishers of the late seventeenth and early eighteenth centuries. It is difficult to estimate their contribution to the formation of English literature accurately. Nevertheless, it is clear that they carried Shakespeare into the eighteenth century and started the practice of modern editing of him. Without Rowe's life and without the Pope-Theobald controversy, the history of Shakespeare studies would have been different, perhaps much less illustrious. The same is true of Milton, a figure who through his political sympathies was in disrepute, but on whom Jacob Tonson the elder (and his nephew after him) decided to lavish the care, eventually including illustration and annotation, usually reserved for the classics. Later they issued an edition of Spenser by John Hughes, thus creating the triumvirate who for many years were to dominate the study of English renaissance literature. It is not unreasonable to claim that the house of Tonson invented English literature as matter for repeated reading and study. In addition, of course, the Tonsons were Dryden's main publisher, the first to publish Pope, and the consistent supporters of Addison and Steele and their early periodicals, while Jacob Tonson the elder had earlier shaped the miscellany, the translation of classical poetry into English, the pocket Elzevier series, and the luxury edition - practices carried on by the Tonson firm throughout the eighteenth century. They were at the forefront of the creation of a Whig literary culture and Jacob Tonson the elder was the founder of the famous Whig Kit-Cat Club which, it has been said, saved the nation. This edition brings together the correspondences of the Tonsons for the first time and represents a major intervention in the field of the history of the book and literary production. It includes 158 letters, with translations where necessary, from major authors, politicians, and men and women of letters of the period, discussing their work and the role that the Tonsons played in getting literature to the press and the reading nation. The letters are accompanied by generous and insightful annotation, as well as brief biographies of each of the Tonsons, and special sections on publishing, patronage, and retirement.
books  find  17thC  18thC  British_history  cultural_history  elite_culture  British_politics  Whigs  Whig_Junto  Whigs-grandees  Whigs-oligarchy  cultural_capital  cultural_authority  publishing  print_culture  printing  Dryden  Pope_Alexander  Addison  Steele  English_lit  poetry  theater  theatre-Restoration  theatre-politics  correspondence  EF-add 
april 2015 by dunnettreader
Herbert Gintis - Gene–culture coevolution and the nature of human sociality | Royal Society - Issue Theme "Human Niche Construction" - Phil. Trans. R. Soc. B, 27 March 2011, vol. 366, no. 1566, 878-888
Human characteristics are the product of gene–culture coevolution, which is an evolutionary dynamic involving the interaction of genes and culture over long time periods. Gene–culture coevolution is a special case of niche construction. Gene–culture coevolution is responsible for human other-regarding preferences, a taste for fairness, the capacity to empathize and salience of morality and character virtues. -- Keywords: gene–culture coevolution, sociobiology, epistatic information transfer -- Published 14 February 2011 doi: 10.1098/rstb.2010.0310 -- downloaded pdf to Note
article  gene-culture_coevolution  sociobiology  social_theory  genetics  cultural_change  social_process  niche_construction  evolution  evolution-social  evolutionary_biology  human_nature  character  preferences  altruism  fairness  empathy  moral_sentiments  moral_psychology  morality-innate  morality-conventional  virtue  tradition  cultural_transmission  evolution-group_selection  downloaded  EF-add 
february 2015 by dunnettreader
Kim Sterelny - From hominins to humans: how sapiens became behaviourally modern | Royal Society - Issue Theme " Human Niche Construction " - Phil. Trans. R. Soc. B, 27 March 2011, vol. 366, no. 1566, 809-822
Philosophy Program and Tempo and Mode, Australian National University and Philosophy Program, Victoria University of Wellington -- This paper contributes to a debate in the palaeoarchaeological community about the major time-lag between the origin of anatomically modern humans and the appearance of typically human cultural behaviour. Why did humans take so long—at least 100,000 years—to become ‘behaviourally modern’? The transition is often explained as a change in the intrinsic cognitive competence of modern humans: often in terms of a new capacity for symbolic thought, or the final perfection of language. These cognitive breakthrough models are not satisfactory, for they fail to explain the uneven palaeoanthropological record of human competence. Many supposed signature capacities appear (and then disappear) before the supposed cognitive breakthrough; many of the signature capacities disappear again after the breakthrough. So, instead of seeing behavioural modernity as a simple reflection of a new kind of mind, this paper presents a niche construction conceptual model of behavioural modernity. Humans became behaviourally modern when they could reliably transmit accumulated informational capital to the next generation, and transmit it with sufficient precision for innovations to be preserved and accumulated. In turn, the reliable accumulation of culture depends on the construction of learning environments, not just intrinsic cognitive machinery. I argue that the model is (i) evolutionarily plausible: the elements of the model can be assembled incrementally, without implausible selective scenarios; (ii) the model coheres with the broad palaeoarchaeological record; (iii) the model is anthropologically and ethnographically plausible; and (iv) the model is testable, though only in coarse, preliminary ways. - Keywords : niche construction, behavioural modernity, hominins -- doi: 10.1098/rstb.2010.0301 -- downloaded pdf to Note
article  sociobiology  anthropology  paleontology  prehistoric  evolution  evolution-social  evolutionary_biology  genetics  gene-culture_coevolution  niche_construction  brain  social_process  cultural_change  learning  cognition  cognition-social  cultural_transmission  downloaded  EF-add 
february 2015 by dunnettreader
Luke Rendell, Laurel Fogarty and Kevin N. Laland - Runaway cultural niche construction | Royal Society Issue Theme " Human Niche Construction " - Phil. Trans. R. Soc. B, 27 March 2011 vol. 366 no. 1566, 823-835
School of Biology, University of St Andrews, -- Cultural niche construction is a uniquely potent source of selection on human populations, and a major cause of recent human evolution. Previous theoretical analyses have not, however, explored the local effects of cultural niche construction. Here, we use spatially explicit coevolutionary models to investigate how cultural processes could drive selection on human genes by modifying local resources. We show that cultural learning, expressed in local niche construction, can trigger a process with dynamics that resemble runaway sexual selection. Under a broad range of conditions, cultural niche-constructing practices generate selection for gene-based traits and hitchhike to fixation through the build up of statistical associations between practice and trait. This process can occur even when the cultural practice is costly, or is subject to counteracting transmission biases, or the genetic trait is selected against. Under some conditions a secondary hitchhiking occurs, through which genetic variants that enhance the capability for cultural learning are also favoured by similar dynamics. We suggest that runaway cultural niche construction could have played an important role in human evolution, helping to explain why humans are simultaneously the species with the largest relative brain size, the most potent capacity for niche construction and the greatest reliance on culture. Keywords: niche construction, cultural transmission, gene–culture coevolution, human evolution, spatially explicit models -- doi: 10.1098/rstb.2010.0256 -- didn't download
article  sociobiology  anthropology  genetics  gene-culture_coevolution  niche_construction  social_theory  social_process  change-social  cultural_transmission  evolution  evolution-social  evolutionary_biology  human_nature  evolution-group_selection  EF-add 
february 2015 by dunnettreader
Jeremy Kendal, Jamshid J. Tehrani and John Odling-Smee - Human niche construction in interdisciplinary focus | Royal Society - Theme Issue "Human Niche Construction" Phil. Trans. R. Soc. B, 27 March 2011, vol. 366, no. 1566, 785-792
doi: 10.1098/rstb.2010.0306 Jeremy Kendal1 and Jamshid J. Tehrani - Centre for the Coevolution of Biology and Culture, Department of Anthropology, University of Durham -- John Odling-Smee - School of Anthropology, University of Oxford -- Issue introduction -- Niche construction is an endogenous causal process in evolution, reciprocal to the causal process of natural selection. It works by adding ecological inheritance, comprising the inheritance of natural selection pressures previously modified by niche construction, to genetic inheritance in evolution. Human niche construction modifies selection pressures in environments in ways that affect both human evolution, and the evolution of other species. Human ecological inheritance is exceptionally potent because it includes the social transmission and inheritance of cultural knowledge, and material culture. Human genetic inheritance in combination with human cultural inheritance thus provides a basis for gene–culture coevolution, and multivariate dynamics in cultural evolution. Niche construction theory potentially integrates the biological and social aspects of the human sciences. We elaborate on these processes, and provide brief introductions to each of the papers published in this theme issue. -- downloaded pdf to Note
article  evolution  evolution-social  evolutionary_biology  sociobiology  human_nature  genetics  gene-culture_coevolution  niche_construction  ecology  species  environment  social_theory  social_process  change-social  cultural_change  cultural_transmission  downloaded  EF-add 
february 2015 by dunnettreader
Paul A. Lewis - Notions of Order and Process in Hayek: The Significance of Emergence (Cambridge Journal of Economics, 2014) :: SSRN
DOI: 10.1093/cje/beu043 -- King's College London - Department of Political Economy -- This article explores the notions of order and process to which Friedrich Hayek subscribed. It is argued that a satisfactory understanding of Hayek’s conceptions of ‘order’ and ‘process’ — and in particular a clear understanding of those how the two concepts relate to each other in his scheme of thought — requires an appreciation of the ontological categories of ‘emergence’ and ‘emergent properties.’ Ultimately, for Hayek the capacity of liberal market economies to co-ordinate people’s actions in the face of tacit and dispersed knowledge is an emergent property that arises only when people’s interactions are governed by certain sets of rules. This static analysis of the co-ordinative powers of the market as an emergent property of a given system of rules must be supplemented by a dynamic account of the process through which the set of rules in question comes into being. Hayek provides such an account in his account of society as developing through a multi-level evolutionary process. Key implications of Hayek’s accounts of order and process for debates about the co-ordinative powers of free market economies are drawn out. -- Number of Pages in PDF File: 27 -- Keywords: Hayek, order, process, emergence, ontology, Austrian economics -- downloaded pdf to Note
article  SSRN  philosophy_of_social_science  social_theory  ontology-social  markets  markets-structure  social_order  emergence  heterodox_economics  Austrian_economics  evolution-social  social_process  coordination  downloaded  EF-add 
february 2015 by dunnettreader
Paul A. Lewis, review essay - Varieties of Emergence: Minds, Markets and Novelty (STUDIES IN EMERGENT ORDER, VOL 4 (2011): 170-192) :: SSRN
King's College London - Department of Political Economy -- This paper is an essay review of Richard Wagner's book, 'Mind, Society and Human Action'. It focuses on the ontological presuppositions of Wagner's account of of the social world (that is, on what Wanger's account presupposes about the nature of social reality). Issue discussed include the following: the nature of emergence and emergent properties; spontaneous order, and the shortcomings of Walrasian general equilibrium theory in modelling it; the significance of the impact of social interaction on peolpe's preferences and dispositions; and the role of novelty and innovation in Wagner's account of the market process. -- Number of Pages in PDF File: 23 -- Keywords: Emergence, complexity, Austrian Economics, ontology, spontaneous order, novelty -- downloaded pdf to Note
article  review  SSRN  philosophy_of_social_science  social_theory  ontology-social  mind  social_order  social_process  preferences  emergence  equilibrium  heterodox_economics  Innovation  complexity  economic_models  utility  behavioral_economics  markets-psychology  markets  methodology  methodology-qualitative  downloaded  EF-add 
february 2015 by dunnettreader
Paul A. Lewis - Certainly Not! A Critical Realist Recasting of Ludwig Von Mises’s Methodology of the Social Sciences (Journal of Economic Methodology (2010), 17(3): 277-99) :: SSRN
King's College London - Department of Political Economy -- This paper focuses on Ludwig von Mises methodological apriorism. It uses Wittgenstein’s private language argument as the basis for a critique of Mises’s claim to have found apodictically certain foundations for economic analysis. It is argued instead that Mises’s methodology is more fruitfully viewed as an exercise in social ontology, the objective of which is to outline key features of the socio-economic world that social scientific research ought to take into account if it is to be fruitful. The implications of this perspective for three key methodological issues, namely the relationship between theory and history, the possibility of naturalism, and the place of Austrian economics within the discipline of economics as a whole, are brought out. -- Number of Pages in PDF File: 22 -- Keywords: Austrian economics; Ludwig von Mises; praxeology; private language -- downloaded pdf to Note
article  SSRN  philosophy_of_social_science  social_theory  ontology-social  Mises  apriori  Wittgenstein  philosophy_of_language  economic_theory  economic_models  heterodox_economics  Austrian_economics  methodology  downloaded  EF-add 
february 2015 by dunnettreader
Paul A. Lewis - Tempered Steele? On the Merits of Critical Realism and the ‘Ontological Turn’ in Economics (2011: Critical Review, 23: 207-30) :: SSRN
King's College London - Department of Political Economy -- The discipline of economics can benefit a more explicit, systematic and sustained concern with ontology, that is, with the philosophical analysis of the nature of the social world. Contrary to the argument advanced in an article recently published in Critical Review (Steele 2005), the ontological analysis provided by critical realism can assist in the development of fruitful economic analysis in a number of ways: (i) by helping to identify research methods suitable for analysing economic issues; (ii) by promoting the development of key substantive economic concepts; and (iii) by helping to reveal and resolve inconsistencies in existing research. -- Number of Pages in PDF File: 30 -- Keywords: Economics, ontology, critical realism -- downloaded pdf to Note
article  SSRN  philosophy_of_social_science  economic_sociology  social_theory  economic_theory  ontology-social  critical_realism  downloaded  EF-add 
february 2015 by dunnettreader
Paul A. Lewis - Far from a Nihilistic Crowd: The Theoretical Contribution of Radical Subjectivist Austrian Economics ( Review of Austrian Economics, 2011, vol. 24: 185-98) :: SSRN
King's College London - Department of Political Economy -- This paper compares and contrasts the hermeneutic turn advocated by Don Lavoie in this 1985 essay on "The Interpretive Dimension of Economics" with the ontological turn that was gathering momentum amongst other groups of heterodox economists at about the same time. It is argued that an explicit focus on ontological issues can complement and support the ‘interpretive turn’, most notably by helping to show that the charge of nihilism that are sometimes levelled against Lavoie and his followers is unwarranted. The argument is illustrated by a case study of one of the inspirations of, and contributors to, Lavoie’s project, namely Ludwig Lachmann. -- Number of Pages in PDF File: 20 -- Keywords: Austrian economics, hermeneutics, social order, nihilism, social ontology, emergence, Ludwig Lachmann, Don Lavoie. -- downloaded pdf to Note
article  SSRN  philosophy_of_social_science  economic_sociology  social_theory  economic_theory  hermeneutics  social_order  ontology-social  emergence  Austrian_economics  heterodox_economics  critical_realism  nihilism  intellectual_history  20thC  downloaded  EF-add 
february 2015 by dunnettreader
Paul A. Lewis - Peter Berger and His Critics: The Significance of Emergence ( Society (2010), vol. 47: 213-20) :: SSRN
King's College London - Department of Political Economy -- Peter Berger has attempted to develop an account of the relationship between social structure and human agency that navigates a middle way between voluntarism and determinism. Berger’s approach has been criticised by social theorists for reproducing, rather than transcending, the very errors of voluntarism and determinism that he strives to avoid. However, the critics have focused on Berger’s explicit, meta-theoretical pronouncements about the nature or ontology of the social world, whilst ignoring the more sophisticated account of the structure agency relationship that is implicit in, and presupposed by, his substantive sociological research. The notions of ‘emergence’ and ‘emergent properties’ are used to develop an account of the structure-agency relationship that is consistent with Berger’s concrete sociological work, whilst avoiding the shortcomings of his explicit reflections about the nature of the social world. -- Number of Pages in PDF File: 21 -- Keywords: Berger, social ontology, structure-agency relationship -- downloaded pdf to Note
article  SSRN  philosophy_of_social_science  social_theory  structure  agency-structure  agency  social_order  ontology-social  emergence  downloaded  EF-add 
february 2015 by dunnettreader
Paul A. Lewis - The Emergence of 'Emergence' in the Work of F.A. Hayek: An Historical Analysis (revised Jan 2015) :: SSRN
King's College London - Department of Political Economy -- presented at Cambridge Realist Workshop -- This paper addresses a puzzle in the history of economic thought. The puzzle is simply stated: Hayek’s analysis of the mind arguably relies heavily on the philosophical notions of emergence and emergent properties. However, Hayek invokes the philosophical notion of emergence explicitly only once, and then relatively late in his career (in his 1964 paper on ‘The Theory of Complex Phenomena’.) The question arises, therefore, of where lie the origins of Hayek’s use of the notions of emergence and emergent properties. This paper attempts to solve this puzzle by examining the history of Hayek’s use of the concept of emergence, implicit or otherwise, and attempting to identify the sources through which notions of ‘emergence’ and ‘emergent properties’ entered his thought in general and, in particular, his theoretical psychology. -- Number of Pages in PDF File: 46 -- Keywords: Hayek, emergence, emergent properties, theoretical psychology -- downloaded pdf to Note
paper  SSRN  intellectual_history  20thC  Hayek  Austrian_economics  economic_theory  social_theory  ontology-social  equilibrium  social_order  social_process  emergence  complex_adaptive_systems  coordination  markets-psychology  mind  psychology  downloaded  EF-add 
february 2015 by dunnettreader
Paul A. Lewis - Turning to Reality? A Review Essay on Tony Lawson's "Reorienting Economics" (2009) :: SSRN
King's College London - Department of Political Economy -- This essays explores various aspects of Tony Lawson's claim that the discipline of economics would benefit from a more explicit, systematic and sustained concern with ontology, that is with (philosophical analysis of) the nature of (what exists in) the social world, than it has hitherto displayed. -- Number of Pages in PDF File: 13 -- Keywords: Social ontology, critical realism, heterodox economics, Austrian economics. -- downloaded pdf to Note
paper  SSRN  social_theory  critical_realism  philosophy_of_social_science  ontology-social  heterodox_economics  Austrian_economics  economic_theory  political_economy  methodology  methodology-qualitative  downloaded  EF-add 
february 2015 by dunnettreader
Paul A. Lewis and Emily Chamlee-Wright - Social Embeddedness, Social Capital and the Market Process: An Introduction to the Special Issue on "Austrian Economics, Economic Sociology and Social Capital" (2008:: SSRN
Paul A. Lewis, King's College London - Department of Political Economy -- Emily Chamlee-Wright, Beloit College - Department of Economics and Management -- Two of the most influential concepts in social science over the past two decades have been 'social embeddedness' and 'social capital'. This essay introduces a special issue of the Review of Austrian Economics in which those concepts are examined from the perspective provided by Austrian economics. In particular, the contributors consider the compatibility of notions of 'embeddedness' and 'social capital' with the Austrian theory of the market process and explore whether reformulating those concepts in the light of Austrian ideas can contribute fresh insights. -- Number of Pages in PDF File: 26 -- Keywords: Austrian economics, economic sociology, trust, social capital -- downloaded pdf to Note
article  SSRN  philosophy_of_social_science  economic_sociology  social_theory  economic_theory  embeddedness  social_capital  trust  Austrian_economics  downloaded  EF-add 
february 2015 by dunnettreader

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