The Moral Foundation of Economic Behavior by David C. Rose (English) Paperback B

Description: The Moral Foundation of Economic Behavior by David C. Rose Events ranging from the Enron scandal to our current global financial meltdown remind us that immoral behavior can undermine even the mightiest economies. This book explains why moral beliefs can and likely do play an important role in the development and operation of market economies. FORMAT Paperback LANGUAGE English CONDITION Brand New Publisher Description This book explains why moral beliefs can and likely do play an important role in the development and operation of market economies. It provides new arguments for why it is important that people genuinely trust others-even those whom they know dont particularly care about them-because in key circumstances institutions are incapable of combating opportunism. It then identifies specific characteristics that moral beliefs must have for the people who possess them to beregarded as trustworthy. When such moral beliefs are held with sufficient conviction by a sufficiently high proportion of the population, a high trust society emerges that supports maximum cooperationand creativity while permitting honest competition at the same time. Such moral beliefs are not tied to any particular religion and have nothing to do with moral earnestness or the set of moral values-what matters is how they affect the way people think about morality. Such moral beliefs are based on abstract ideas that must be learned so they are matters of culture, not genes, and are therefore able to explain differences in economic performance across societies. Author Biography David C. Rose is Professor of Economics at the University of Missouri-St. Louis. He received his Ph.D. in Economics in 1987 from the University of Virginia. He has published scholarly articles on a wide range of topics in micro and macroeconomics. He frequently contributes to policy debates through radio and television interviews and Op-Eds. Table of Contents PrefaceAcknowledgments1. Introduction2. Opportunism3. Group Size4. Moral Values5. Harm-Based Moral Restraint6. The Empathy Problem7. Duty-Based Moral Restraint8. The Moral Foundation9. Trust10. Culture11. ConclusionReferencesIndex Review "Rose appears to regard himself as addressing only economists and other social scientists...But the structure of his argument, along with much of his rhetoric and many of his emphases, reveal that he is pursuing a genealogical approach to morality, and it is under that description that philosophers can most easily appreciate the arguments value."--Journal of Moral Philosophy"This is a very interesting and timely argument....the message is important and sobering."--The Enlightened Economist blog"Following in the tradition of Adam Smith, David Rose provides a modern economic perspective on how the wealth of nations depends on a theory of moral sentiments. This book provides such a theory and explains why all societies attempt to inculcate moral restraints on homo economicus. After reading it you have new insights into how and why morality is so important to economic prosperity."--Terry L. Anderson, Senior Fellow, Hoover Institution, StanfordUniversity and Executive Director, Property and Environment Research Center"As members of the American body politic, we are failing to transmit intergenerational elements of our cultural heritage without which a free and prosperous society cannot exist. This book brings attention to the moral bases for the civic order that we too often take for granted. Only if we first understand what is happening can the erosion of our moral capital be turned around."--James M. Buchanan, Nobel Laureate in Economics, 1986"How did we move from the hunter-gatherer societies of our forbearers to the complex globally-interconnected world of today? How does one maintain prosperity when localized knowledge and large numbers of market participants make golden opportunities for undetected opportunistic behavior ever more possible? What sets of moral beliefs are most conducive to maximizing general prosperity, and how are they inculcated? Drawing on, but also going beyond, the ideasof such thinkers as the Smiths (both Adam and Vernon), Douglass North, F. A. Hayek, and others, as well as his own fertile mind, David Rose provides the answers to these and other questions in a bookthat explores the interstices of economics, cultural studies, and applied moral theory. It is a compelling account."--Bruce Caldwell, Duke University"Modern economics is returning to its moral philosophy roots; David Roses The Moral Foundation of Economic Behavior moves that process along by reconsidering the role of trust and culture in the economy. His approach is unique, insightful, and definitely worth reading."--David Colander, Christian A. Johnson Distinguished Professor of Economics, Middlebury CollegeSelected one of CHOICEs "Outstanding Academic Title of 2012""Economists and scholars in other fields working on culture, trust, and economic development should consider this book. Experimental economists working on trust and trustworthiness who want more insight into these behaviors should, too. Each chapter builds on the previous ones, taking the reader through organized and pointed discussions in building a case for the primacy of duty-based moral restraint to trust to economic prosperity." --The Journal ofEconomic Literature"The book is an extended thought experiment launched by this question: If a societys sole objective is to maximize general prosperity and it can choose its own moral beliefs, what kinds of moral beliefs would it choose? (p. 4, emphasis in original). The author proposes a sophisticated, novel, and compelling answer to this question. It therefore deserves to be read by anyone with an interest in how to promote human prosperity." --James R. Otteson,Yeshiva University, The Independent Review"[The Moral Foundation of Economic Behavior] is so provocative, so carefully constructed, and so potentially pathbreaking, especially for a first book, that it seems to have sprung fully formed like Athena from Zeuss head. Roses book is full of intriguing insights and provocative discussions. The Moral Foundation of Economic Behavior is an impressive achievement. It deserves a wide audience. If it gets one, it will inaugurate new and betterinvestigation into the deep connections between morality and prosperity."--EH.Net Promotional What role do moral beliefs play in the development, operation, and downfall of market economies? Prizes Winner of Selected one of CHOICEs "Outstanding Academic Title of 2012". Long Description This book explains why moral beliefs can and likely do play an important role in the development and operation of market economies. It provides new arguments for why it is important that people genuinely trust others-even those whom they know dont particularly care about them-because in key circumstances institutions are incapable of combating opportunism. It then identifies specific characteristics that moral beliefs must have for the people who possess them to beregarded as trustworthy. When such moral beliefs are held with sufficient conviction by a sufficiently high proportion of the population, a high trust society emerges that supports maximum cooperation and creativity while permitting honest competition at the same time. Such moral beliefs are nottied to any particular religion and have nothing to do with moral earnestness or the set of moral values-what matters is how they affect the way people think about morality. Such moral beliefs are based on abstract ideas that must be learned so they are matters of culture, not genes, and are therefore able to explain differences in economic performance across societies. Review Text "This is a very interesting and timely argument....the message is important and sobering."--The Enlightened Economist blog"Following in the tradition of Adam Smith, David Rose provides a modern economic perspective on how the wealth of nations depends on a theory of moral sentiments. This book provides such a theory and explains why all societies attempt to inculcate moral restraints on homo economicus. After reading it you have new insights into how and why morality is so important to economic prosperity."--Terry L. Anderson, Senior Fellow, Hoover Institution, StanfordUniversity and Executive Director, Property and Environment Research Center"As members of the American body politic, we are failing to transmit intergenerational elements of our cultural heritage without which a free and prosperous society cannot exist. This book brings attention to the moral bases for the civic order that we too often take for granted. Only if we first understand what is happening can the erosion of our moral capital be turned around."--James M. Buchanan, Nobel Laureate in Economics, 1986"How did we move from the hunter-gatherer societies of our forbearers to the complex globally-interconnected world of today? How does one maintain prosperity when localized knowledge and large numbers of market participants make golden opportunities for undetected opportunistic behavior ever more possible? What sets of moral beliefs are most conducive to maximizing general prosperity, and how are they inculcated? Drawing on, but also going beyond, the ideasof such thinkers as the Smiths (both Adam and Vernon), Douglass North, F. A. Hayek, and others, as well as his own fertile mind, David Rose provides the answers to these and other questions in a book that explores the interstices of economics, cultural studies, and applied moral theory. It is acompelling account."--Bruce Caldwell, Duke University"Modern economics is returning to its moral philosophy roots; David Roses The Moral Foundation of Economic Behavior moves that process along by reconsidering the role of trust and culture in the economy. His approach is unique, insightful, and definitely worth reading."--David Colander, Christian A. Johnson Distinguished Professor of Economics, Middlebury CollegeSelected one of CHOICEs "Outstanding Academic Title of 2012""Economists and scholars in other fields working on culture, trust, and economic development should consider this book. Experimental economists working on trust and trustworthiness who want more insight into these behaviors should, too. Each chapter builds on the previous ones, taking the reader through organized and pointed discussions in building a case for the primacy of duty-based moral restraint to trust to economic prosperity." --The Journal ofEconomic Literature"The book is an extended thought experiment launched by this question: If a societys sole objective is to maximize general prosperity and it can choose its own moral beliefs, what kinds of moral beliefs would it choose? (p. 4, emphasis in original). The author proposes a sophisticated, novel, and compelling answer to this question. It therefore deserves to be read by anyone with an interest in how to promote human prosperity." --James R. Otteson,Yeshiva University, The Independent Review"[The Moral Foundation of Economic Behavior] is so provocative, so carefully constructed, and so potentially pathbreaking, especially for a first book, that it seems to have sprung fully formed like Athena from Zeuss head. Roses book is full of intriguing insights and provocative discussions. The Moral Foundation of Economic Behavior is an impressive achievement. It deserves a wide audience. If it gets one, it will inaugurate new and betterinvestigation into the deep connections between morality and prosperity."--EH.Net Review Quote "This is a very interesting and timely argument....the message is important and sobering."--The Enlightened Economist blog "Following in the tradition of Adam Smith, David Rose provides a modern economic perspective on how the wealth of nations depends on a theory of moral sentiments. This book provides such a theory and explains why all societies attempt to inculcate moral restraints on homo economicus. After reading it you have new insights into how and why morality is so important to economic prosperity."--Terry L. Anderson, Senior Fellow, Hoover Institution, Stanford University and Executive Director, Property and Environment Research Center "As members of the American body politic, we are failing to transmit intergenerational elements of our cultural heritage without which a free and prosperous society cannot exist. This book brings attention to the moral bases for the civic order that we too often take for granted. Only if we first understand what is happening can the erosion of our moral capital be turned around."--James M. Buchanan, Nobel Laureate in Economics, 1986 "How did we move from the hunter-gatherer societies of our forbearers to the complex globally-interconnected world of today? How does one maintain prosperity when localized knowledge and large numbers of market participants make golden opportunities for undetected opportunistic behavior ever more possible? What sets of moral beliefs are most conducive to maximizing general prosperity, and how are they inculcated? Drawing on, but also going beyond, the ideas of such thinkers as the Smiths (both Adam and Vernon), Douglass North, F. A. Hayek, and others, as well as his own fertile mind, David Rose provides the answers to these and other questions in a book that explores the interstices of economics, cultural studies, and applied moral theory. It is a compelling account."--Bruce Caldwell, Duke University "Modern economics is returning to its moral philosophy roots; David Roses The Moral Foundation of Economic Behavior moves that process along by reconsidering the role of trust and culture in the economy. His approach is unique, insightful, and definitely worth reading."--David Colander, Christian A. Johnson Distinguished Professor of Economics, Middlebury College Selected one of CHOICEs "Outstanding Academic Title of 2012" "Economists and scholars in other fields working on culture, trust, and economic development should consider this book. Experimental economists working on trust and trustworthiness who want more insight into these behaviors should, too. Each chapter builds on the previous ones, taking the reader through organized and pointed discussions in building a case for the primacy of duty-based moral restraint to trust to economic prosperity." --The Journal of Economic Literature "The book is an extended thought experiment launched by this question: If a societys sole objective is to maximize general prosperity and it can choose its own moral beliefs, what kinds of moral beliefs would it choose? (p. 4, emphasis in original). The author proposes a sophisticated, novel, and compelling answer to this question. It therefore deserves to be read by anyone with an interest in how to promote human prosperity." --James R. Otteson, Yeshiva University, The Independent Review "[The Moral Foundation of Economic Behavior] is so provocative, so carefully constructed, and so potentially pathbreaking, especially for a first book, that it seems to have sprung fully formed like Athena from Zeuss head. Roses book is full of intriguing insights and provocative discussions. The Moral Foundation of Economic Behavior is an impressive achievement. It deserves a wide audience. If it gets one, it will inaugurate new and better investigation into the deep connections between morality and prosperity."--EH.Net Feature Selling point: An open ended thought experiment launched by the question: If a societys sole objective is to maximize general prosperity, given the moral beliefs it chooses, what kinds of beliefs would it choose?Selling point: Explains why culture alone is capable of producing a high trust societySelling point: Shows how our intuitions for basic human decency are insufficient for reckoning with an efficient market economy, and that the key therefore is trust over the span of large societies, as counter-intuitive as that may seemSelling point: Illuminates implications not just for social capital theory and relational contract theory, but for the analysis of aggregate economic performance across societies and for trust related economic experiments Details ISBN0199360596 Author David C. Rose Short Title MORAL FOUNDATION OF ECONOMIC B Pages 288 Language English ISBN-10 0199360596 ISBN-13 9780199360598 Media Book Format Paperback Year 2014 Illustrations 4 illustrations Position Professor of Economics Place of Publication New York Country of Publication United States Affiliation Professor of Economics, University of Missouri - St. Louis UK Release Date 2014-03-06 AU Release Date 2014-03-06 NZ Release Date 2014-03-06 US Release Date 2014-03-06 Publisher Oxford University Press Inc Publication Date 2014-03-06 Imprint Oxford University Press Inc Alternative 9780199781744 DEWEY 174.4 Audience Professional & Vocational We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! TheNile_Item_ID:97824359;

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