IDEAS home Printed from https://ideas.repec.org/a/bla/ecaffa/v35y2015i3p366-379.html
   My bibliography  Save this article

Realistic Idealism and The Project of Political Economy

Author

Listed:
  • Mark Pennington

Abstract

This paper explores the constraints that should inform understandings of which political economic institutions are both economically and political feasible and ethically attractive. Focusing on cognitive constraints and motivational constraints, it suggests that the classical liberal ideal of a society based largely on voluntary exchanges within a minimalist conception of justice comes closest to matching the terms of a ‘realistic idealism’.

Suggested Citation

  • Mark Pennington, 2015. "Realistic Idealism and The Project of Political Economy," Economic Affairs, Wiley Blackwell, vol. 35(3), pages 366-379, October.
    • Handle: RePEc:bla:ecaffa:v:35:y:2015:i:3:p:366-379
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1111/ecaf.12139
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Smith,Vernon L., 2009. "Rationality in Economics," Cambridge Books, Cambridge University Press, number 9780521133388, January.
    2. Pennington, Mark, 2013. "Elinor Ostrom and the robust political economy of common-pool resources," Journal of Institutional Economics, Cambridge University Press, vol. 9(4), pages 449-468, December.
    3. McCloskey, Deirdre Nansen, 2006. "The Bourgeois Virtues," University of Chicago Press Economics Books, University of Chicago Press, number 9780226556635.
    4. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    5. Martin Ruhs, 2013. "The Price of Rights: Regulating International Labor Migration," Economics Books, Princeton University Press, edition 1, number 10140.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pies, Ingo, 2023. "Ethik des Kapitalismus," Discussion Papers 2023-06, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.
    2. Stringham, Edward Peter, 2011. "Embracing morals in economics: The role of internal moral constraints in a market economy," Journal of Economic Behavior & Organization, Elsevier, vol. 78(1), pages 98-109.
    3. Bart J. Wilson, 2012. "Contra Private Fairness," American Journal of Economics and Sociology, Wiley Blackwell, vol. 71(2), pages 407-435, April.
    4. Jan Schnellenbach, 2015. "Does classical liberalism imply an evolutionary approach to policy-making?," Journal of Bioeconomics, Springer, vol. 17(1), pages 53-70, April.
    5. Nordblom, Thomas L. & Reeson, Andrew & Finlayson, John D. & Hume, Iain H. & Whitten, Stuart M. & Kelly, Jason A., 2009. "Experiments with regulations & markets linking upstream tree plantations with downstream water users," 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia 47945, Australian Agricultural and Resource Economics Society.
    6. Lunawat, Radhika & Shields, Timothy W. & Waymire, Gregory, 2021. "Financial reporting and moral sentiments," Journal of Accounting and Economics, Elsevier, vol. 72(1).
    7. Randall G. Holcombe, 2022. "Creative destruction: getting ahead and staying ahead in a capitalist economy," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 35(4), pages 467-480, December.
    8. Adam Martin, 2014. "Where are the big bills? Escaping the endogenizer’s dilemma," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(1), pages 81-95, March.
    9. Harris,Colin & Cai,Meina & Murtazashvili,Ilia & Murtazashvili,Jennifer Brick, 2020. "The Origins and Consequences of Property Rights," Cambridge Books, Cambridge University Press, number 9781108969055, January.
    10. Benno Torgler, 2021. "The Power of Public Choice in Law and Economics," CREMA Working Paper Series 2021-04, Center for Research in Economics, Management and the Arts (CREMA).
    11. Klein, Daniel, 2009. "Unfolding the Allegory behind Market Communication and Social Error and Correction," Ratio Working Papers 133, The Ratio Institute, revised 17 Feb 2010.
    12. Mark Koyama, 2023. "Epidemic disease and the state: Is there a tradeoff between public health and liberty?," Public Choice, Springer, vol. 195(1), pages 145-167, April.
    13. John Lynham, 2012. "Ecomarkets For Conservation And Sustainable Development in the Coastal Zone," Working Papers 201218, University of Hawaii at Manoa, Department of Economics.
    14. Persson, Torsten & Tabellini, Guido, 2002. "Political economics and public finance," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 3, chapter 24, pages 1549-1659, Elsevier.
    15. christoph Engel, 2005. "Voice over IP. Competition Policy and Regulation," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2005_26, Max Planck Institute for Research on Collective Goods.
    16. Madeleine Sumption, 2019. "Is Employer Sponsorship a Good Way to Manage Labour Migration? Implications for Post-Brexit Migration Policies," National Institute Economic Review, National Institute of Economic and Social Research, vol. 248(1), pages 28-39, May.
    17. Maite Cubas‐Díaz & Miguel Ángel Martínez Sedano, 2018. "Measures for Sustainable Investment Decisions and Business Strategy – A Triple Bottom Line Approach," Business Strategy and the Environment, Wiley Blackwell, vol. 27(1), pages 16-38, January.
    18. Baumann, Florian, 2015. "Freier Warenverkehr und unverfälschter Wettbewerb in der Europäischen Union: Der Beitrag der europäischen Produkthaftung," DICE Ordnungspolitische Perspektiven 75, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    19. Qiuyue Xia & Lu Li & Jie Dong & Bin Zhang, 2021. "Reduction Effect and Mechanism Analysis of Carbon Trading Policy on Carbon Emissions from Land Use," Sustainability, MDPI, vol. 13(17), pages 1-22, August.
    20. Frans P. Vries & Nick Hanley, 2016. "Incentive-Based Policy Design for Pollution Control and Biodiversity Conservation: A Review," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 63(4), pages 687-702, April.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ecaffa:v:35:y:2015:i:3:p:366-379. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0265-0665 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.