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A Plea for Unconventional Economics

In: Social Capital, Corporate Social Responsibility, Economic Behaviour and Performance

Author

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  • Bruno S. Frey

Abstract

This chapter endeavors to convince the reader that unconventional economics is helpful to better understand issues concerned with social capital, corporate social responsibility and sustainable development. I hasten to add that this does not mean that standard neoclassical economics is superfluous and a waste of effort. Quite the contrary, neoclassics is important as a background theory into which the unorthodox elements can be introduced. Thus, the basic tenet of neoclassics, the strictly individualistic approach in which individuals seek to maximize their utility and are restricted by all sorts of economic (such as income or time) and institutional (such as the organization of industry or the governance of the state) constraints, is accepted and followed. Indeed, I presume standard neoclassics to be known by the reader both with respect to its fundamental features as well as to its specific theories and results.

Suggested Citation

  • Bruno S. Frey, 2011. "A Plea for Unconventional Economics," Palgrave Macmillan Books, in: Lorenzo Sacconi & Giacomo Degli Antoni (ed.), Social Capital, Corporate Social Responsibility, Economic Behaviour and Performance, chapter 1, pages 21-41, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-30618-9_2
    DOI: 10.1057/9780230306189_2
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    Cited by:

    1. Lenka Slavíková, 2013. "Na institucích záleží! Ale proč? [Institutions Matter! But Why?]," Politická ekonomie, Prague University of Economics and Business, vol. 2013(1), pages 121-127.

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