Download e-book for kindle: Accepting the Invisible Hand: Market-Based Approaches to by Mark D. White

By Mark D. White

ISBN-10: 0230114318

ISBN-13: 9780230114319

ISBN-10: 1349286834

ISBN-13: 9781349286836

This selection of essays by way of renowned economists and philosophers showcases the $64000 contributions that markets could make to big themes inside social economics, together with useful matters reminiscent of poverty and catastrophe reduction, in addition to extra basic issues relating to ethics and well-being.

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Extra info for Accepting the Invisible Hand: Market-Based Approaches to Social-Economic Problems

Example text

S. Skinner. Indianapolis: Liberty Fund, 1776/1982. ———. The Theory of Moral Sentiments. D. L. Macfie. Indianapolis: Liberty Fund, 1759/1982. Sullivan, Roger J. Immanuel Kant’s Moral Theory. Cambridge, UK: Cambridge University Press, 1989. ———. An Introduction to Kant’s Ethics. Cambridge, UK: Cambridge University Press, 1994. , and R ichard H. Thaler. ” University of Chicago Law Review 70 (2001): 1159–202. , and Cass R. Sunstein. Nudge: Improving Decisions about Health, Wealth, and Happiness. New Haven: Yale University Press, 2008.

Heath, 1986. , Elizabeth Boyd, and Lisa A. Bero. ” Social Studies of Science 30 (2000): 713–35. , and Douglas Glen Whitman. ” Arizona Law Review 51 (2009): 685–739. Seabright, Paul. The Company of Strangers. Princeton, NJ: Princeton University Press, 2004. Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations. Indianapolis: Liberty Fund, 1981 [1776]. Sowell, Thomas. Knowledge and Decisions. New York: Basic Books, 1996 [1980]. Spector, Malcolm, and John I. Kitsuse. Constructing Social Problems.

Markets, Choice, and Well-Being To accept the market-based approach to the solution of social problems means accepting that we do not know in advance the correct solutions to social problems or the right answers to questions of public policy. This does mean that in some sense to utilize markets is to take a step into the unknown. When one advocates a market-based solution to a social problem, one cannot guarantee that any particular solution or outcome will emerge. ”23 A market economy implies a myriad of institutional forms, such as large corporations, small businesses, partnerships, and individuals, seeking to satisfy consumer demands in different ways.

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