The Dismal Science: How Thinking Like an Economist Undermines Community

by
Edition: 1st
Format: Hardcover
Pub. Date: 2008-01-31
Publisher(s): Harvard Univ Pr
List Price: $43.33

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Summary

See "Stephen Marglin on the Future of Capitalism" at FORA.tv .Economists celebrate the market as a device for regulating human interaction without acknowledging that their enthusiasm depends on a set of half-truths: that individuals are autonomous, self-interested, and rational calculators with unlimited wants and that the only community that matters is the nation-state. However, as Stephen Marglin argues, market relationships erode community. In the past, for example, when a farm family experienced a setback--say the barn burned down--neighbors pitched in. Now a farmer whose barn burns down turns, not to his neighbors, but to his insurance company. Insurance may be a more efficient way to organize resources than a community barn raising, but the deep social and human ties that are constitutive of community are weakened by the shift from reciprocity to market relations.Marglin dissects the ways in which the foundational assumptions of economics justify a world in which individuals are isolated from one another and social connections are impoverished as people define themselves in terms of how much they can afford to consume. Over the last four centuries, this economic ideology has become the dominant ideology in much of the world. Marglin presents an account of how this happened and an argument for righting the imbalance in our lives that this ideology has fostered.

Table of Contents

Prefacep. ix
Economics, the Market, and Communityp. 1
What Is Community? And Is It Worth the Cost?p. 20
The Cutting Edge of Modernityp. 36
Individualismp. 58
Some Historyp. 80
From Vice to Virtue in a Centuryp. 96
How Do We Know When We Do Not Know?p. 116
Sources of the Modern Ideology of Knowledgep. 136
Taking Experience Seriouslyp. 153
Welfare Economics and the Nation-Statep. 173
Why Is Enough Never Enough?p. 199
The Economics of Tragic Choicesp. 223
From Imperialism to Globalization, by Way of Developmentp. 245
The Limits of Dissentp. 265
The Distributional Roots of the Enclosure Movementp. 299
Notesp. 309
Referencesp. 333
Note on Sources and Permissionsp. 351
Indexp. 353
Table of Contents provided by Ingram. All Rights Reserved.

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