Introducing Anthropological Foundations of Economic Behavior, Organization, and Control
AbstractOne of the rude awakenings for economists from the current recession is an emerging understanding that economics has gone wild with its highbrow mathematical models that bear little resemblance to reality. The failure of economics to predict and solve the current global recession, has restored the “dismal science” title to the profession. It stems from the cultish fascination with Adam Smith’s Invisible Hand, centered around the belief in the efficient market hypothesis. This fascination exposes analytical holes in the methodology that economics has followed lately, as economics itself has moved too far away from its key social foundations. This situation is incomprehensible and needs redressing. I compiled a book - Selected Readings on the Anthropological Bases of Economic Behavior, Organization, and Control - to help economists and others get back in touch with their genealogy. This current paper is a watered down version of the introduction to Selected Readings. It concludes that real life is neither as simple nor economic as economic theory sometimes suggests. In fact, and for much of human history, non-economic factors and forces have driven economic activities. Selected Readings provides an opportunity for reinforced focus on economics principles. Alone and detached from its social foundations economics has a future only as fiction. As serious non-fiction, economics cannot successfully divorce itself from its elemental foundations in the social sciences. To advance its theory in the past economics needed to borrow from mathematics and physics. Such learning must continue. However, to remain policy-relevant economics cannot wish away the very social bases upon which it is founded. Without social foundations one might as well kiss economics goodbye.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 22921.
Date of creation: 26 May 2010
Date of revision:
economic behavior; economic organization; economic control; Frank Knight; W. Arthur Lewis; Joan Robinson; Janos Kornai; J. Herskovits; B. Malinowski; anthropological bases;
Find related papers by JEL classification:
- A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
- A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
- Y20 - Miscellaneous Categories - - Introductions and Prefaces - - - Introductions and Prefaces
- P49 - Economic Systems - - Other Economic Systems - - - Other
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Voxi Heinrich Amavilah, 2005. "Resource Intra-Actions And Inter-Actions: Implications For Technological Change And Economic Growth," GE, Growth, Math methods 0508004, EconWPA.
- Burton G. Malkiel, 2003. "The Efficient Market Hypothesis and Its Critics," Journal of Economic Perspectives, American Economic Association, vol. 17(1), pages 59-82, Winter.
- Paul M. Romer, 2010. "Which Parts of Globalization Matter for Catch-up Growth?," NBER Working Papers 15755, National Bureau of Economic Research, Inc.
- Paul Romer, 1991.
"Endogenous Technological Change,"
NBER Working Papers
3210, National Bureau of Economic Research, Inc.
- Burton G. Malkiel, 2005. "Reflections on the Efficient Market Hypothesis: 30 Years Later," The Financial Review, Eastern Finance Association, vol. 40(1), pages 1-9, 02.
- Romer, Paul, 1993. "Idea gaps and object gaps in economic development," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 543-573, December.
- repec:pri:cepsud:111 is not listed on IDEAS
- Simon,Herbert A., 2009. "An Empirically-Based Microeconomics," Cambridge Books, Cambridge University Press, number 9780521118361, October.
- Herbert A. Simon, 1996. "The Sciences of the Artificial, 3rd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262691914, June.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).
If references are entirely missing, you can add them using this form.