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In: Oxford scholarship online
In: Economics and Finance
Daniel Bromley offers a fundamental critique of contemporary capitalism to explain why the world now finds itself in widespread disorder. The basic flaw, he argues, is the triumph of a culture of possessive individualism. As a result, capitalism is no longer an engine of improved livelihoods and social hope. Bromley explains that escape from this disorder requires that the private firm be reimagined as a public trust whose purpose is to offer plausible livelihoods as it also serves our acquisitive wants. However, the possessive individual also bears urgent responsibilities. We must renew the idea of loyalty to others - whether neighbours, fellow workers, or society at large.
In the standard analysis of economic institutions--which include social conventions, the working rules of an economy, and entitlement regimes (property relations)--economists invoke the same theories they use when analyzing individual behavior. In this profoundly innovative book, Daniel Bromley challenges these theories, arguing instead for ""volitional pragmatism"" as a plausible way of thinking about the evolution of economic institutions. Economies are always in the process of becoming. Here is a theory of how they become. Bromley argues that standard economic accounts see institu
In: Blackwell handbooks in economics
In: Recent economic thought series
In: Recent economic thought series
In: World bank staff working papers 531
In: World development: the multi-disciplinary international journal devoted to the study and promotion of world development, Volume 158, p. 1-18
World Affairs Online
In: Marine policy, Volume 72, p. 231-236
ISSN: 0308-597X
In: Marine policy: the international journal of ocean affairs, Volume 72, p. 231-236
ISSN: 0308-597X
In: Ecology and society: E&S ; a journal of integrative science for resilience and sustainability, Volume 17, Issue 3
ISSN: 1708-3087