David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Clarendon Press (1998)
The aim of this book is to re-establish custom in economics. Current economic theorizing largely neglects the customary forces that underpin market exchange. Economic sociologists have stressed this repeatedly by referring to the 'embeddedness' of all kinds of economic processes. It is true that market processes do hinge on elements of custom, but custom is in turn moulded by economic processes. This other causal direction needs more attention than it has hitherto received. The way modern institutional economics has developed points to the same deficiency. Institutional economics initially tried to analyse economic institutions as arising from market processes and competition whilst avoiding reference to all elements of custom, but it became increasingly clear that answers obtained in this fashion were critically dependent on tacit underlying assumptions about the customary infrastructure. Another current strand of thought, notably originating with game theory, has tried to understand the emergence of customs by viewing them as routines that have been adopted because of their success. This approach views customs essentially as conventions that solve coordination problems. It is driven by the economic paradigm that interprets behaviour as fully reducible to the interplay of (given) preferences and constraints whilst neglecting the direct motivational impact of custom. The second aim of the book is thus to systematically harmonize the motivational significance of custom with institutional theorizing. The re-establishment of custom in economics will provide foundations for institutional economics which reduce the arbitrariness of current thinking.
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
|Buy the book||$74.00 used (51% off) $109.50 new (27% off) Amazon page|
|Through your library||Configure|
References found in this work BETA
No references found.
Citations of this work BETA
Jocelyn Pixley (2009). Time Orientations and Emotion-Rules in Finance. Theory and Society 38 (4):383-400.
Similar books and articles
Albino Barrera (1999). The Evolution of Social Ethics: Using Economic History to Understand Economic Ethics. Journal of Religious Ethics 27 (2):285 - 304.
John R. Owen (2009). A History of the Moral Economy: Markets, Custom, and the Philosophy of Popular Entitlement. Australian Scholarly Pub..
Todd Jones (2012). Do Customs Compete with Conditioning? Turf Battles and Division of Labor in Social Explanation. Synthese 184 (3):407-430.
Sigmund Wagner-Tsukamoto (2005). An Economic Approach to Business Ethics: Moral Agency of the Firm and the Enabling and Constraining Effects of Economic Institutions and Interactions in a Market Economy. [REVIEW] Journal of Business Ethics 60 (1):75 - 89.
Antonio Argandoña (2004). Economic Ethics and Institutional Change. Journal of Business Ethics 53 (1-2):191-201.
Costas Lapavitsas (2004). Commodities and Gifts: Why Commodities Represent More Than Market Relations. Science and Society 68 (1):33 - 56.
Mark Edward Lewis (2003). Custom and Human Nature in Early China. Philosophy East and West 53 (3):308-322.
Todd Jones (2008). Explanations of Social Phenomena: Competing and Complementary Accounts. Metaphilosophy 39 (4-5):621-650.
Betsy Jane Clary, Wilfred Dolfsma & Deborah M. Figart (eds.) (2006). Ethics and the Market: Insights From Social Economics. Routledge.
Christoph Kletzer, Custom and Positivity: An Examination of the Philosophic Ground of the Hegel-Savigny Controversy.
Wolfram Latsch (2003). Androids and Agents: Do We Need a Non‐Computational Economics? Journal of Economic Methodology 10 (3):375-396.
Uskali Mäki (1999). Science as a Free Market: A Reflexivity Test in an Economics of Economics. Perspectives on Science 7 (4):486-509.
Brian Hilton (2007). An Integral Perspective on the Political Economy of "Big Change". World Futures 63 (2):127 – 136.
Sorry, there are not enough data points to plot this chart.
Added to index2012-01-31
Recent downloads (6 months)0
How can I increase my downloads?