By Mark D. White
This choice of essays by means of fashionable economists and philosophers showcases the real contributions that markets could make to special subject matters inside social economics, together with functional matters resembling poverty and catastrophe aid, in addition to extra basic matters concerning ethics and well-being.
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Additional info for Accepting the Invisible Hand: Market-Based Approaches to Social-Economic Problems
Arizona Law Review 51 (2009): 685–739. Seabright, Paul. The Company of Strangers. Princeton, NJ: Princeton University Press, 2004. Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations. Indianapolis: Liberty Fund, 1981 . Sowell, Thomas. Knowledge and Decisions. New York: Basic Books, 1996 . Spector, Malcolm, and John I. Kitsuse. Constructing Social Problems. New Brunswick, NJ: Transaction Publishers, 1987. , and Cass R. Sunstein. Nudge: Improving Decisions about Health, Wealth, and Happiness.
14. Littlechild, “Smoking and Market Failure”; Lee, “Environmental Economics and the Social Cost of Smoking”; Tollison and Wagner, Economics of Smoking. 15. ” 16. ” 17. ” 18. ” 19. ” 20. ” 21. ” 22. , 22. 23. Sowell, Knowledge and Decisions, 41. 24. , 42; emphasis in the original. 25. Thaler and Sunstein, Nudge, 1–15, sets out the cafeteria example and a summary of the basic argument. 40 JOHN MEADOWCROF T 26. White, “Behavioral Law and Economics”; see also chapter one in this book. 27. ” 28. White, “Behavioral Law and Economics,” 212.
4. For example, see Walsh, Public Services and Market Mechanisms, 140. 5. Lavoie, Rivalry and Central Planning, 22–7. 6. Hayek, “Competition as a Discovery Procedure,” 180; emphasis in the original. 7. On the role of market prices, see Hayek, “Use of Knowledge in Society”; Lavoie, Rivalry and Central Planning; Thomsen, Prices and Knowledge. 8. Hayek, “Results of Human Action but not of Human Design,” 96. 9. The classic text on the social construction of social problems is Spector and Kitsuse, Constructing Social Problems.
Accepting the Invisible Hand: Market-Based Approaches to Social-Economic Problems by Mark D. White