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Full-Text Articles in Economics
Institutional Divergence In Economic Development, Jonathan B. Wight
Institutional Divergence In Economic Development, Jonathan B. Wight
Economics Faculty Publications
The Anglo-American capitalist model (AACM) encompasses a set of theories and policies that advance the classical objectives of individual autonomy, wealth acquisition, and economic growth. In the twentieth century, the neoclassical goal of short-run Pareto efficiency was added yet remains in possible tension with these other aims. The AACM generally upholds the primacy of markets as the means for achieving its normative ideals through private, decentralized actions, with some exceptions. In the modern political arena this ideology is associated with the Reagan-Thatcher revolution of the 1980s and provides a framework for many who oppose statist solutions to social problems (Steger …
F. A. Hayek’S Sympathetic Agents, Sandra J. Peart, David M. Levy
F. A. Hayek’S Sympathetic Agents, Sandra J. Peart, David M. Levy
Jepson School of Leadership Studies articles, book chapters and other publications
In what follows, we show first that, for Hayek, behavior within the small group – the “small band or troop,” or “micro-cosmos” – is correlated, resulting from agents who are sympathetic one with another. We shall argue that sympathy in this context for Hayek entails the projection of one’s preferences onto the preferences of others. With such correlated agency as the default in small-group situations, Hayek attempts to explain the transition from small groups to a larger civilization. We consider the role of projection in Hayek’s system at length, because projection from the local group characterized by a well-defined preference …
"Introduction" To "Symposium: The Fate Of Anglo-American Capitalism", Sandra J. Peart
"Introduction" To "Symposium: The Fate Of Anglo-American Capitalism", Sandra J. Peart
Jepson School of Leadership Studies articles, book chapters and other publications
The call for papers in this special issue asked whether there is a future for the robust sort of capitalism favoured by Adam Smith or whether we have reached a limit to Anglo-American capitalism as the engine of human betterment. Contemporary events loomed large late in 2008 and it seemed appropriate to consider whether Anglo-American capitalism was passing away. We were particularly interested in contributions that viewed current economic events through a lens informed by Smith's teaching on institutions, money and economic growth.