Morals and Markets: An Evolutionary Account of the Modern World [NOOK Book]

Overview

The book draws on recent academic research in evolutionary game theory and behavioral economics, and tells familiar stories like the rise of Google as well as forgotten tales like the Ponzi scheme that swallowed Albania. The characters range from amoebas and William Blake to Boris Yeltsin and Zorro. Engaging and insightful, Morals and Markets offers a fresh perspective on the modern world and new hope for the future.
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Morals and Markets: An Evolutionary Account of the Modern World

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Overview

The book draws on recent academic research in evolutionary game theory and behavioral economics, and tells familiar stories like the rise of Google as well as forgotten tales like the Ponzi scheme that swallowed Albania. The characters range from amoebas and William Blake to Boris Yeltsin and Zorro. Engaging and insightful, Morals and Markets offers a fresh perspective on the modern world and new hope for the future.
Read More Show Less

Editorial Reviews

From the Publisher
"Anyone interested in markets and morals — perhaps the central issue of our time — should read this very interesting and thoughtful book." — Tyler Cowen, Professor of Economics, George Mason University

"The message markets plus moral is excellent— it is consonant with behavioral game theory’s results, including experiments with small-scale societies, and with McCloskey’s recent book on bourgeois morality.  But, Friedman’s message is simpler and clearer." — Herbert Gintis, Santa Fe Institute, Central Europe University (Budapest) 
 "I have been waiting for someone to write this book for a long time. Its use of historical anecdotes to explain why one cannot divorce a society's economics from its social contract is utterly convincing." — Ken Binmore, Professor Emeritus, University College London
 

"This book expertly addresses the most important issues confronting the continued evolution of morals and instituions for human socioeconomic betterment." —    Vernon L. Smith, George L. Argyros Chair in Finance & Economics, Chapman University

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Product Details

  • ISBN-13: 9780230264731
  • Publisher: Palgrave Macmillan
  • Publication date: 9/16/2008
  • Sold by: Barnes & Noble
  • Format: eBook
  • File size: 515 KB

Meet the Author

Daniel Friedman is a well-known economist and theorist who has published widely in leading academic journals in economics, finance, psychology, and politics. His sits on the editorial board of the American Economic Review, the premier academic economics journal, as well as the boards of three other leaders in their fields: The Journal of Evolutionary Economics, Games and Economic Behavior, and Experimental Economics. He has received 11 National Science Foundation grants. His books include Experimental Methods: A Primer for Economists (1994) with S. Sunder; The Double Auction Market: Institutions, Theories and Evidence (1993), coedited with J. Rust, about the origin and efficiency of the rules of the New York Stock Exchange and Chicago exchanges; and Economics Lab: An Intensive Course in Experimental Economics, with Alessandra Cassar (2004). He is a professor of economics at his alma mater, the University of California, Santa Cruz.

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Table of Contents

1 The savanna code : what code are morals? 9

2 Bazaar and empire : how did we become civilized and why did we start shopping? 25

3 The great transformation : why is the modern world so rich? 43

4 Utopias of cooperation : romantics, communists, and other anti-moderns 59

5 Russia's transition to kleptocracy : when markets need morals 73

6 Japan's bubbles and zombies : when morals choke markets 83

7 Towers of trust : the rise (and occasional crash) of financial markets 93

8 From Hudson's Bay to eBay : why do some people like going to work? 107

9 Markets for crime and markets for punishment 125

10 Mullahs' revenge : gangs, cults, and anti-terrorists 143

11 Cooling the Earth : environmental markets and morals 157

12 Future morals and markets : can this marriage be saved? 169

App Technical details 183

Notes 199

Bibliography 231

Index 245

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