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Assumption without representation: the unacknowledged abstraction from communities and social goods

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  • Wicks, Rick

Abstract

We have not clearly acknowledged the abstraction from unpriceable “social goods” (derived from communities) which, different from private and public goods, simply disappear if it is attempted to market them. Separability from markets and economics has not been argued, much less established. Acknowledging communities would reinforce rather than undermine them, and thus facilitate the production of social goods. But it would also help economics by facilitating our understanding of – and response to – financial crises as well as environmental destruction and many social problems, and by reducing the alienation from economics often felt by students and the public.

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File URL: http://mpra.ub.uni-muenchen.de/51674/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 51674.

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Date of creation: Oct 2011
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Publication status: Published in The American Economist 1.57(2012): pp. 78-95
Handle: RePEc:pra:mprapa:51674

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Keywords: assumptions; communities; general equilibrium; separability; social goods.;

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