Description
Book SynopsisUpending traditional mainstream view, this book applies identity analysis to economics to show the limitations of Homo economicus. It distinguishes different forms of people's social identities and advances policies for combating social inequality. It also shows how economics is value-entangled and examines forces influencing change in economics.
Trade Review'This book significantly narrows the gap in Amartya Sen's capability approach between what agency is and what agency does. Or the gap between who people are and what people choose. It is therefore not only an important elaboration of agency for the capability approach, but, at the same time, the book invites social economists to engage with the notion of capabilities. It is therefore one of those rare books that genuinely try to engage with different economic approaches with the purpose of refining both.' Irene van Staveren, Professor of Pluralist Development Economics at Erasmus University Rotterdam
'Economics today is still dominated by utility-maximizing 'economic man.' Despite drawing attention to his errors, the new behavioral economics keeps utility maximization as a baseline concept. John Davis calls for a fundamentally different approach. It has long been recognized that utility maximization cannot deal with major issues such as the construction of individual identity. Davis develops this critique and points to a constructive alternative. This is a major treatise, addressing the need to build economics on different foundations.' Geoffrey M. Hodgson, Emeritus Professor in Management at Loughborough University London
Table of ContentsPreface; Acknowledgements; Part I. The Failed Pathway and Exit Strategies: Introduction; 1. Objectivity in economics and the problem of the individual; 2. The untenability of the unembedded Homo economicus; 3. The 'reconciliation problem' and an individuality reconstruction problem; Part II. Rebuilding the Individual Conception: Introduction; 4. Adaptive reflexive individuals: a capabilities conception of the person; 5. A general theory of social economic stratification: stigmatization, exclusion, and capability shortfalls; 6. Roads not taken yet to be taken: enhancing capabilities; Part III. Value and Subjectivity: Introduction; 7. Economics as a normative discipline: value dis-entanglement in an objective economics; 8. Individual realization? Rethinking subjectivity in economics; 9. Change in and changing economics; References; Index.
