Download or read book The Evolutionary Invisible Hand written by Matúš Pošvanc and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book presents a new theoretical approach to the description of economic phenomena over time. A realistic and meaningful description of economic phenomena over time is one of the basic preconditions for the success of any economic theory. The presented theoretical solution or proposal has two main characteristics. The first is a modification of the theory of subjective value in the form of the claim that one perceives the satisfaction of one's needs in the context of one's overall individual portfolio of goods. The causal relationship of the "old" theory in the form of "need is satisfied by good" is modified in terms of "sum of needs is satisfied by portfolio of goods (sum of goods)". This is a small modification, which, however, brings several important elements to the description of economic phenomena over time. The old theoretical approach did not enable us to operate over time because of different value context of goods which is changing over time. However, the portfolio of goods is, in fact, a formally-logical homogeneous construction of the mind, which is applicable over time. The second characteristic is the anchoring of this modification of the theory of subjective value in evolutionary (intersubjective) apriorism. The book will be of interest to any Austrian and Mainstream Economists who deal with problems of description of economic phenomena in time. Also, for those involved in topics such as estimating of future, why entrepreneurs are successful or the problem of social ordering or equilibration and those who are interested in the new evolutionary approach to the emergence of criteria for rational decision-making. Matúš Pošvanc is the director of the F.A. Hayek Foundation Bratislava, Slovakia. He deals with issues of economic cycles, the theory of money and banking, as well as general economic theories. He also cooperates as a senior fellow expert with several Slovak business organizations. .
Download or read book The Evolutionary Invisible Hand written by Matúš Pošvanc and published by Springer Nature. This book was released on 2021-04-20 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book presents a new theoretical approach to the description of economic phenomena over time. A realistic and meaningful description of economic phenomena over time is one of the basic preconditions for the success of any economic theory. The presented theoretical solution or proposal has two main characteristics. The first is a modification of the theory of subjective value in the form of the claim that one perceives the satisfaction of one's needs in the context of one's overall individual portfolio of goods. The causal relationship of the “old” theory in the form of “need is satisfied by good” is modified in terms of “sum of needs is satisfied by portfolio of goods (sum of goods)”. This is a small modification, which, however, brings several important elements to the description of economic phenomena over time. The old theoretical approach did not enable us to operate over time because of different value context of goods which is changing over time. However, the portfolio of goods is, in fact, a formally-logical homogeneous construction of the mind, which is applicable over time. The second characteristic is the anchoring of this modification of the theory of subjective value in evolutionary (intersubjective) apriorism. The book will be of interest to any Austrian and Mainstream Economists who deal with problems of description of economic phenomena in time. Also, for those involved in topics such as estimating of future, why entrepreneurs are successful or the problem of social ordering or equilibration and those who are interested in the new evolutionary approach to the emergence of criteria for rational decision-making.
Download or read book Social Evolution Political Psychology and the Media in Democracy written by Peter Beattie and published by Springer. This book was released on 2018-12-13 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes why we believe what we believe about politics, and how the answer affects the way democracy functions. It does so by applying social evolution theory to the relationship between the news media and politics, using the United States as its primary example. This includes a critical review and integration of the insights of a broad array of research, from evolutionary theory and political psychology to the political economy of media. The result is an empirically driven political theory on the media’s role in democracy: what role it currently plays, what role it should play, and how it can be reshaped to be more appropriate for its structural role in democracy.
Download or read book The Darwin Economy written by Robert H. Frank and published by Princeton University Press. This book was released on 2012-09-16 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Argues that ecologist Charles Darwin's understanding of competition describes economic reality far more accurately than economist Adam Smith's theories ever did.
Download or read book Why We Bite the Invisible Hand written by Peter Foster and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Why We Bite the Invisible Hand, Peter Foster delves into a conundrum: How can we at once live in a world of expanding technological wonders and unprecedented well-being, and yet hear a constant drumbeat of condemnation of the system that created it? That system, capitalism, which is based on private property and voluntary dealings, is guided by the "Invisible Hand," the metaphor for economic markets associated with the great Eighteenth Century Scottish philosopher Adam Smith. The hand guides people to serve others while pursuing their own interests, and produces a broader good that, as Smith put it, is "no part of their intention." Critics. however, claim that the hand is tainted by greed, leads to inequity and dangerous corporate power, and threatens not merely resource depletion but planetary disaster. Foster probes misunderstanding, fear and dislike of capitalism from the dark satanic mills of the Industrial Revolution through to the murky concept of sustainable development. His journey takes him from Kirkcaldy, the town of Smith's birth, through Moscow McDonald's and Karl Marx's Manchester, on a trip to Cuba to smuggle dollars, and into the backrooms of the United Nations. His cast of characters includes the man who wrote the entry for "capitalism" in the Great Soviet Encyclopaedia, a family of Kirkcaldy butchers, radical individualist Ayn Rand, father of evolutionary theory Charles Darwin, numerous Nobel prizewinning economists, colonies of chimpanzees, and "philanthrocapitalist" Bill Gates. Foster suggests that the key to his conundrum lies in the field of evolutionary psychology, which offers to help us understand both why some of what Adam Smith called our complex "moral sentiments" may be outdated, and why so many of our economic assumptions tend to be wrong. We are hunter gatherers with iPhones. The Invisible Hand is counterintuitive to minds formed predominantly in small close-knit tribal communities where there were no extensive markets, no money, no technological advance and no economic growth. Equally important, we don't have to understand the rapidly evolving economic "natural order" to operate within it and enjoy its benefits any more than we need to understand our nervous or respiratory systems to stay alive. But that also makes us prone to support morally-appealing but counterproductive policies, such as minimum wage legislation. Foster notes that politicians and bureaucrats -- consciously or unconsciously -- exploit moral confusion and economic ignorance. Ideological obsession with market imperfections, income gaps, corporate power, resource exhaustion and the environment are useful justifications for those seeking political control of our lives. The book refutes claims that capitalism's validity depends on the system being "perfect" or economic actors "rational." It also notes the key difference between capitalism and capitalists, who are inclined to misunderstand the system as much as anyone. Foster points to the astonishing rise in recent decades of radical, unelected environmental non-governmental organizations, ENGOs. Closely related to that rise, Foster examines with one of the biggest and most contentious issues of our time: projected catastrophic man-made climate change. He notes that while this theory is cited as the greatest example in history of "market failure," it in fact demonstrates how both scientific analysis and economic policy can become perverted once something is framed as a "moral issue," and thus allegedly "beyond debate." Foster's book is not a paean to greed, selfishness or radical individualism. He stresses that the greatest joys in life come from family, friendship and participation in community, sport and the arts. What has long fascinated him is the relentless claim that capitalism taints or destroys these aspects of humanity rather than promoting them. Moreover, he concludes, when you bite the Invisible Hand... it always bites back.
Download or read book The State of State written by Nils Karlson and published by Routledge. This book was released on 2017-09-08 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most astonishing features of social, economic, and political life is that large-scale patterns, structures, and behavioral regularities sometimes develop without anyone intentionally planning their occurrence, or without anyone deliberately working to bring them about. They evolve as a specific kind of unintended consequence of human action. They are the result of invisible hands. Building on Adam Smith's classic concept of "the invisible hand," this study presents a general approach, based on the theory of games and evolutionary theory, to explain such large-scale unintended consequences within markets, communities, and the state. This analysis by Nils Karlson is further used to explain the growth of the modern "welfare" state. It shows how an unconstrained democratic state through two distinct invisible-hand processes, the logic of conceit and the logic of opportunism, may develop into a "equilibrium" state, "The State of State." His work moves classic political economy into the world of political sociology. A normative contractual model is presented and the relative desirability of the state, markets, and communities is discussed. A major conclusion is that it is a choice between imperfect alternatives, involving decisions about more or less, rather than absolute judgments of an either/or variety. It is nevertheless suggested that society ought to be radically depoliticized and that constitutional constraints should be introduced in the universe of policy-making.
Download or read book The Cheating Cell written by Athena Aktipis and published by Princeton University Press. This book was released on 2020-03-24 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: A fundamental and groundbreaking reassessment of how we view and manage cancer When we think of the forces driving cancer, we don’t necessarily think of evolution. But evolution and cancer are closely linked because the historical processes that created life also created cancer. The Cheating Cell delves into this extraordinary relationship, and shows that by understanding cancer’s evolutionary origins, researchers can come up with more effective, revolutionary treatments. Athena Aktipis goes back billions of years to explore when unicellular forms became multicellular organisms. Within these bodies of cooperating cells, cheating ones arose, overusing resources and replicating out of control, giving rise to cancer. Aktipis illustrates how evolution has paved the way for cancer’s ubiquity, and why it will exist as long as multicellular life does. Even so, she argues, this doesn’t mean we should give up on treating cancer—in fact, evolutionary approaches offer new and promising options for the disease’s prevention and treatments that aim at long-term management rather than simple eradication. Looking across species—from sponges and cacti to dogs and elephants—we are discovering new mechanisms of tumor suppression and the many ways that multicellular life-forms have evolved to keep cancer under control. By accepting that cancer is a part of our biological past, present, and future—and that we cannot win a war against evolution—treatments can become smarter, more strategic, and more humane. Unifying the latest research from biology, ecology, medicine, and social science, The Cheating Cell challenges us to rethink cancer’s fundamental nature and our relationship to it.
Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.
Download or read book The Unseen Hand written by A. Ralph Epperson and published by . This book was released on 1985 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt: "It is the contention of the author that the major events of the past, the wars, the depressions and the revolutions, have been planned years in advance by an international conspiracy."--Page 4 of cover
Download or read book The Invisible Hand in Economics written by N. Emrah Aydinonat and published by Routledge. This book was released on 2008-02-14 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book about one of the most controversial concepts in economics: the invisible hand. The author explores the unintended social consequences implied by the invisible hand and discusses the mechanisms that bring about these consequences.The book questions, examines and explicates the strengths and weaknesses of invisible-hand explanations co
Download or read book The Theory of Moral Sentiments written by Adam Smith (économiste) and published by . This book was released on 1812 with total page 636 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Adam s Fallacy written by Duncan K. Foley and published by Harvard University Press. This book was released on 2009-06-30 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book could be called "The Intelligent Person's Guide to Economics." The title expresses Duncan Foley's belief that economics at its most abstract and interesting level is a speculative philosophical discourse, not a deductive or inductive science. Adam's fallacy is the attempt to separate the economic sphere of life, in which the pursuit of self-interest is led by the invisible hand of the market to a socially beneficial outcome, from the rest of social life, in which the pursuit of self-interest is morally problematic and has to be weighed against other ends.
Download or read book The Hand Behind the Invisible Hand written by Mittermaier, Karl and published by Bristol University Press. This book was released on 2020-07-22 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Available Open Access under CC-BY-NC-ND Made famous by the Enlightenment thinker Adam Smith, the concept of an ‘invisible hand’ might be taken to imply that a government that governs least governs the best, from the viewpoint of society. Here an invisible hand appears to represent unfettered market forces. Drawing from this much-contested notion, Mittermaier indicates why such a view represents only one side of the story and distinguishes between what he calls pragmatic and dogmatic free marketeers. Published posthumously, with new contributions by Daniel Klein, Rod O’Donnell and Christopher Torr, this book outlines Mittermaier’s main thesis and his relevance for ongoing debates within economics, politics, sociology and philosophy.
Download or read book Paradoxes of Rationality and Cooperation written by Richmond Campbell and published by UBC Press. This book was released on 1985 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: This anthology, the first to bring together the most importantphilosophical essays on the paradoxes, analyses the concepts underlyingthe Prisoner's Dilemma and Newcomb's Problem and evaluates theproposed solutions. The relevant theories have been developed over thepast four decades in a variety of disciplines: mathematics, economics,psychology, political science, biology, and philosophy. And theproblems these paradoxes uncover can arise in many different forms: indebates over nuclear disarmament, labour-management disputes, maritalconflicts, Calvinist theology, and even in the evolution of diseasethrough the "cooperation" of microorganisms. Thepossibilities for application are virtually limitless.
Download or read book The Visible Hand written by Alfred D. Chandler Jr. and published by Harvard University Press. This book was released on 1993-01-01 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of large-scale business enterprise—big business and its managers—during the formative years of modern capitalism (from the 1850s until the 1920s) is delineated in this pathmarking book. Alfred Chandler, Jr., the distinguished business historian, sets forth the reasons for the dominance of big business in American transportation, communications, and the central sectors of production and distribution.
Download or read book The Biological Foundations of Organizational Behavior written by Stephen M. Colarelli and published by University of Chicago Press. This book was released on 2015-01-02 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: When biological theories were used to understand behavior in the early 20th century, they were often poorly understood. Ideas about race, ethnicity, and IQ, and notions of social Darwinism, were based on a misunderstanding and an incomplete understanding of genetics and Darwin s theory of evolution by natural selection. Now, however, a biological understanding of social behavior is an integral part of modern science, and increasingly used in the study of behavior in organizations. Yet, compared with other explanatory paradigms in organizational behavior, biological and evolutionary approaches are still relatively rare. "The Biological Foundations of Organizational Behavior" provides accessible insights for scholars and practitioners in management and organizational behavior into what biology can offer their fields. Chapters contain enough background to orient readers who may have little knowledge of biology, and provide substantive contributions to advancing understanding of specific areas of biology and human behavior in organizations. They also show how the addition of biological theory and research to organizational-behavior scholarship will increase its explanatory and predictive power and contribute to its scientific foundations."
Download or read book Capitalism written by Bruce R. Scott and published by Springer Science & Business Media. This book was released on 2011-10-02 with total page 690 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two systems of governance, capitalism and democracy, prevail in the world today. Operating simultaneously in partially distinct domains, these systems rely on indirect governance through regulated competition to coordinate actors; inevitably, these systems influence and transform each other. This book rejects the simple equation of capitalism with markets in favor of a three-level system, a model which recognizes that markets are administered by regulators through institutions and governed by a political authority with the power to regulate behavior, punish transgressors, and redesign institutions. This system's emergence required the sovereign to relinquish some power in order to release the energies of economic actors. Rather than spreading through an unguided natural process like trade, capitalism emerged where competitive pressures forced political authorities to take risks in order to achieve increased revenues by permitting markets for land, labor, and capital.
