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The Scope and Promising Future of Social Economics

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  • Jon Wisman

Abstract

This essay explores the future potential for Social Economics. Since the beginning of modern economics, the mainstream has been steered by what might be called a material progress vision, whereby the generally unacknowledged pesumption is that economic growth will make the good life possible. Accordingly, such potential components of human welfare as more creative and fulfilling work, greater equality in the distribution of opportunity, wealth and income, and a greater degree of community can be more or less ignored for the present. Less guided by this vision, and unfettered by a pretense of value-neutrality, Social Economics does not view such components of welfare as subsidiary to economic growth. Instead, it is more focused upon the wholeness of social life, more concerned with the full requisites of the good and just society. By drawing upon recent work in psychology, sociology, and especially happiness research, Social Economics is found to offer a more promising orientation towards future economic concerns than does mainstream economics.

Suggested Citation

  • Jon Wisman, 2003. "The Scope and Promising Future of Social Economics," Review of Social Economy, Taylor & Francis Journals, vol. 61(4), pages 425-445.
  • Handle: RePEc:taf:rsocec:v:61:y:2003:i:4:p:425-445
    DOI: 10.1080/0034676032000160886
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    Citations

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    Cited by:

    1. Jon D. Wisman, 2013. "Why Marx still matters," International Journal of Pluralism and Economics Education, Inderscience Enterprises Ltd, vol. 4(3), pages 229-242.
    2. Jon D. Wisman & Matthew E. Davis, 2013. "Degraded Work, Declining Community, Rising Inequality, and the Transformation of the Protestant Ethic in America: 1870–1930," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1075-1105, November.
    3. Jon Wisman, 2013. "The Growth Trap, Ecological Devastation, and the Promise of Guaranteed Employment," Challenge, Taylor & Francis Journals, vol. 56(2), pages 53-78.
    4. Anna Carabelli & Mario Cedrini, 2011. "The Economic Problem of Happiness: Keynes on Happiness and Economics," Forum for Social Economics, Springer;The Association for Social Economics, vol. 40(3), pages 335-359, October.
    5. Jon D. Wisman & Kevin Capehart, 2009. "Creative Destruction, Economic Insecurity, Stress and Epidemic Obesity," Working Papers 2009-13 JEL classificatio, American University, Department of Economics.

    More about this item

    Keywords

    Economic visions; happiness; work; community; justice;

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