Product Key Features
Number of Pages234 Pages
LanguageEnglish
Publication NameHumanomics : Moral Sentiments and the Wealth of Nations for the Twenty-First Century
SubjectSociology / General, Development / Economic Development, Economics / General, Public Policy / Economic Policy
Publication Year2019
TypeTextbook
Subject AreaPolitical Science, Social Science, Business & Economics
AuthorBart J. Wilson, Vernon L. Smith
SeriesCambridge Studies in Economics, Choice, and Society Ser.
FormatTrade Paperback
Additional Product Features
Intended AudienceScholarly & Professional
ReviewsAdvance praise: 'The new economics has arrived, a 'humanomics' that leaves the humans in. It banishes the sociopath known as Max U without repopulating the economy with idiots to be nudged by overlords. Humanomics combines the sacred and the profane, just as we do. It is a scientific, and ethical, triumph.' Deirdre Nansen McCloskey, University of Illinois at Chicago, author ofBourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World
Dewey Edition23
IllustratedYes
Dewey Decimal338.9001
Table Of Content1. Humanomics spans the two worlds of Adam Smith: sociality and economy; 2. Words and meaning in Adam Smith's world; 3. Conduct in the social universe; 4. Frank Knight preemptively settles the horse race; 5. Axioms and principles for understanding human conduct; 6. Propositions predicting context-specific action; 7. Propriety and sympathy in a rule-governed order; 8. Trust game discoveries; 9. The ultimatum game as involuntary extortion; 10. Designing, predicting, and evaluating new trust games; 11. Reconsidering the formal structure of traditional game theory; 12. Narratives in and about experimental economics; 13. Adam Smith's program for the study of human socio-economic betterment: from beneficence and justice to the Wealth of Nations.
SynopsisArticulates Adam Smith's model of human sociality, illustrated in experimental economic games that relate easily to business and everyday life. Shows how to re-humanize the study of economics in the twenty-first century by integrating Adam Smith's two great books into contemporary empirical analysis., 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.
LC Classification NumberHD75.S6 2019