Humanomics: Moral Sentiments and the Wealth of Nations for the Twenty-First Century

Vernon L. Smith (Chapman University, California),Bart J. Wilson (Chapman University, California)

Humanomics: Moral Sentiments and the Wealth of Nations for the Twenty-First Century
Format
Hardback
Publisher
Cambridge University Press
Country
United Kingdom
Published
14 March 2019
Pages
234
ISBN
9781107199378

Humanomics: Moral Sentiments and the Wealth of Nations for the Twenty-First Century

Vernon L. Smith (Chapman University, California),Bart J. Wilson (Chapman University, California)

While neo-classical analysis works well for studying impersonal exchange in markets, it fails to explain why people conduct themselves the way they do in their personal relationships with family, neighbors, and friends. In Humanomics, Nobel Prize-winning economist Vernon L. Smith and his long-time co-author Bart J. Wilson bring their study of economics full circle by returning to the founder of modern economics, Adam Smith. Sometime in the last 250 years, economists lost sight of the full range of human feeling, thinking, and knowing in everyday life. Smith and Wilson show how Adam Smith’s model of sociality can re-humanize twenty-first century economics by undergirding it with sentiments, fellow feeling, and a sense of propriety - the stuff of which human relationships are built. Integrating insights from The Theory of Moral Sentiments and the Wealth of Nations into contemporary empirical analysis, this book shapes economic betterment as a science of human beings.

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