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Social Rules and Agreements Besides the ‘Invisible Hand’ A note on Carlo Beretta, «Non di solo mercato... Ruolo e ragioni di accordi, regole e istituzioni»

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  • Andrea Villani

    () (Dipartimento di Economia Internazionale, delle Istituzioni e dello Sviluppo, Universita` Cattolica del Sacro Cuore, Milano)

Abstract

Recently an old debate amongst scholars of economics and of other social sciences has been revived: that between supporters of the free market and supporters of public regulation of economic activity, the aims being specifically that of efficiency according to the former group, and development, stability and social justice for the latter. In this paper we consider Carlo Beretta’s analysis, which by means of a historical and theoretical method, gives evidence of the limits of the neoclassical approach, and emphasizes the importance of social rules and agreements, i.e. the need for the intervention of collective institutions in order to reach the fundamental goals of social and economic policy.

Suggested Citation

  • Andrea Villani, 2012. "Social Rules and Agreements Besides the ‘Invisible Hand’ A note on Carlo Beretta, «Non di solo mercato... Ruolo e ragioni di accordi, regole e istituzioni»," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 120(1), pages 117-126.
  • Handle: RePEc:vep:journl:y:2012:v:120:i:1:p:117-126
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    Keywords

    Market; development; public institutions;

    JEL classification:

    • B29 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Other
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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