Review of Economic Philosophy

Tag: Individual

  • Fondements pragmatistes de l’institutionnalisme en économie. Théorie de la connaissance et théorie de l’action chez Veblen et Commons

    Abstract

    The aim of this article is to show that Veblen and Commons’ Institutional Economics is an original translation of philosophical pragmatism in social science. The link between pragmatism and institutionalism is analyzed at two relied levels:  the first concerns the conception of science and reality; the second concerns the conception of economic rationality and human behavior in society. We underline that the pragmatist vision about processes of thought linked to action and experience imply a renewal of the method as well as the subject of knowledge in economics, renewal which is characteristic of old institutionalism.

    Keywords

    , , , , , ,

    JEL Classification: A12, B31, B40, B52

  • The individual and the society in Walras

    Abstract

    Modern analyses present the general equilibrium as an archetype of methodological individualism, enabling the reconciliation of individual interests through the market. This article aims at showing the originality and the specificity of the treatment of this issue by Walras. We first show that Walras considers the individual (oneself) and the society (the others) as natural objects, which necessarily coexist, thus rejecting an individualistic ontology. But Walras also rejects holism and develops an analysis that considers the individual and the state as two complementary and inseparable entities. This results in a vision of the economic role of the state that is far removed from individualistic liberalism. The state must intervene to make free enterprise possible by organizing markets and maintaining competition. To do so, the state must have its own resources, not obtained through taxation, but through the nationalization of the land.

    JEL classification: B4, B13, B21.

    Keywords

    , , , , , , ,

    [Download in Cairn]

  • What thou liv’st, live well

    Abstract

    In paring away what was considered inessential to the economic decision, economists have pared away human flesh leaving only the bone. To revivify and incarnate this skeleton I draw on insights from the social psychology of Deci and Ryan, Dweck, and Bandura to broaden the foundation of utility theory and expand the types of resources individuals have at their disposal, both individually and as part of a group, to effect their wellbeing. These theories recognize that the effects of society on the individual are not always to the good. Their nuanced understanding of the individual in society helps put meat and muscle on economic agents’ bones by placing these agents in society, suggesting how society affects agents and revealing how agents work together to adapt and change society. A model is developed to incorporate some of these features and examples are analyzed. The behavior of the individual that arises is not easily characterized, but its essential, even economic, humanness is.

    Keywords

    , , , , ,

    Code JEL: D91.