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The Moral Economy: Why Good Incentives Are No Substitute for Good Citizens

✍ Scribed by Samuel Bowles


Publisher
Yale University Press
Year
2016
Tongue
English
Leaves
288
Series
Castle Lectures Series
Category
Library

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✦ Synopsis


Why do policies and business practices that ignore the moral and generous side of human nature often fail?

Should the idea of economic manβ€”the amoral and self-interested Homo economicusβ€”determine how we expect people to respond to monetary rewards, punishments, and other incentives? Samuel Bowles answers with a resounding β€œno.” Policies that follow from this paradigm, he shows, may β€œcrowd out” ethical and generous motives and thus backfire.
Β 
But incentives per se are not really the culprit. Bowles shows that crowding out occurs when the message conveyed by fines and rewards is that self-interest is expected, that the employer thinks the workforce is lazy, or that the citizen cannot otherwise be trusted to contribute to the public good. Using historical and recent case studies as well as behavioral experiments, Bowles shows how well-designed incentives can crowd in the civic motives on which good governance depends.

✦ Subjects


Economics;Banks & Banking;Commerce;Commercial Policy;Comparative;Development & Growth;Digital Currencies;Econometrics;Economic Conditions;Economic History;Economic Policy & Development;Environmental Economics;Free Enterprise;Income Inequality;Inflation;Interest;Labor & Industrial Relations;Macroeconomics;Microeconomics;Money & Monetary Policy;Public Finance;Sustainable Development;Theory;Unemployment;Urban & Regional;Business & Money;Consumer Behavior;Marketing & Sales;Business & Money;Applied P


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