Social Economics, Ch. 4 - "Individuals and Institutions in Social Economics"
Author(s)
Goodwin, Neva R.
Abstract
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.
