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Social Paradoxes of Growth and Civil Economy

In: Economic Theory and Social Justice

Author

Listed:
  • Stefano Zamagni
  • Nicola Acocella
  • Alessandro Roncaglia
  • Felice R. Pizzuti

Abstract

‘The problem with reliance on the market as a moral code is that it fails to give moral credit to those whose sacrifices enable others to consider themselves freely choosing agents. By concentrating on the good news that we can improve our position, rather than the not-so-good, but socially necessary, news that we might consider the welfare of others as our direct concern, the market leaves us with no way to appreciate disinterest’.1 While in agreement with the descriptive content of this statement, I would not endorse its conclusion. Indeed, my argument is that a too narrow interpretation of the notion of market economy has brought us to believe that ‘the market leaves us with no way to appreciate disinterest’. I believe it is time to re-examine that very foundation of economic theory according to which rational economic man is conceived as a calculating self-interested maximizer. I argue for a more realistic and solid view that takes into account the possibility of visualizing a market society as composed of both a private economy and a civil economy.

Suggested Citation

  • Stefano Zamagni & Nicola Acocella & Alessandro Roncaglia & Felice R. Pizzuti, 1999. "Social Paradoxes of Growth and Civil Economy," Palgrave Macmillan Books, in: Giancarlo Gandolfo & Ferruccio Marzano (ed.), Economic Theory and Social Justice, chapter 8, pages 212-250, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26981-5_11
    DOI: 10.1007/978-1-349-26981-5_11
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