Titlebook: Rediscovering Social Economics; Beyond the Neoclassi Roger D. Johnson Book 2017 The Editor(s) (if applicable) and The Author(s) 2017 pluton

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FIS

Understanding Marketsto match this theoretical ideal, the innate tendency is to advocate policies and legal parameters that impose the requisite perfectly competitive behavioral conditions on the scenario instead of designing policies that reflect actual human behaviors and social structures.

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The Supply of Laborple living in poverty and/or the presence of income-targeting behavior. The mathematics of the Neoclassical income/leisure trade-off model cannot account for this type of behavior without destroying the elegance that makes it such a useful pedagogical and analytical tool.

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The Mondragón Alternativeooperatives. The success of such ventures hinges upon maintaining a common set of values and developing appropriate institutional structures that deal with issues of distributive justice and internal hierarchies.

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The Evolving Dialoguecreate an unrealistic understanding of human society and frequently fostered counterproductive?policy prescriptions. Fortunately, a new generation of economists has emerged to challenge the Neoclassical paradigm and perhaps return the discipline to the broader social and philosophical roots of the discipline as epitomized by Adam Smith.

GRILL

The Political and Moral Dimensions of Economicscomes of those at the bottom of the social system and those at the top. Although capitalism and the so-called industrial revolution were generating tremendous improvements in manufacturing and agricultural productivity, Smith’s emphasis on achieving improved real wages for the working class didn’t seem to be fully realized.

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Understanding Human Choice suitable for analyzing individual optimizing behavior. Marginal utility analysis, however, rests upon untested and questionable assumptions about the psychological process for assigning values that were then used to generate the axiom that the process of exchange creates value.

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Challenges to Homo Economicusarios where individuals had to anticipate the response of others but also raised profound questions about generating the rules of the game. Modern Behavioralists have expanded on this by directly questioning the foundational Neoclassical tenets of rational, autonomous, self-interested behavior.

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