Markets, Governmentsâ>i>and Communities!>/i>
Economic theory allows for a place for markets, and, often grudgingly, for government, but it allows no place for communities. Yet the author argues that any thorough understanding of marketsâand thus of economicsârequires at least a basic understanding of communities (and of governments) as well. Communities, after all, supply social benefitsâthey improve welfare. How can they be ignored, especially if markets (and economic thinking) undermine them? Ignoring communities has led to inadequate economic and social policies with lasting damage. The author thoroughly reviews the sometimes complex literature on the subject.
Volume (Year): 54 (2011)
Issue (Month): 4 (July)
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