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Individuals and institutions in social economics


  • Goodwin, Neva


This is Chapter 4 from "Social Economics: An Alternative Theory" (St. Martin's Press, 1991). This chapter focuses on the human subjects of economic study, suggesting that the psychology offered in neoclassical economics is severely inadequate to serve as the foundation for a social science. Psychological issues that deserve more attention in economics include altruism, trust, learning processes, and the values of "doing" and "being" - these last being contrasted with the neoclassical emphasis on "having." Economic theory also needs to evolve along with - and to assist in the constructive evolution of - real-world economic systems.

Suggested Citation

  • Goodwin, Neva, 1991. "Individuals and institutions in social economics," MPRA Paper 31027, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:31027

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    References listed on IDEAS

    1. Hirschman, Albert O., 1985. "Against Parsimony: Three Easy Ways of Complicating some Categories of Economic Discourse," Economics and Philosophy, Cambridge University Press, vol. 1(01), pages 7-21, April.
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    More about this item


    psychology; psychological economics; altruism; trust;

    JEL classification:

    • Z1 - Other Special Topics - - Cultural Economics
    • B0 - Schools of Economic Thought and Methodology - - General
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being


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