Morals and Markets: The Dangerous Balance

Morals and Markets: The Dangerous Balance

by D. Friedman, D. McNeill

Paperback(2nd ed. 2013)

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Overview

Friedman and McNeill draw on recent research in evolutionary game theory and behavioral economics to explore the relationship between our moral codes and our market systems. They show how imbalance between morals and markets is at the root of the recent corporate scandals in the US as well as the global financial crisis the world continues to face.

Editorial Reviews

From the Publisher

'Morals and Markets shows in example after example that absence of morals and absence of markets leads to poverty and suffering. Our modern society depends upon the balance between the two. And when they break down, as they have in the recent financial crisis, then we have chaos. Friedman and McNeill, who are fascinating on every page, have uncovered one of the fundamental principles of our existence.' - George Akerlof, Nobel Laureate in Economics, 2001


'An engrossing and insightful read that draws on the sweep of human history to show the delicate balance between moral codes and economic market rules. This book should be mandatory reading for ideologues on both sides of the debates on the extent to which self-organized markets, freed of regulation, can be relied on to put food on our tables and keep at bay the beasts within us.' - Daniel McFadden, Nobel Laureate in Economics, 2000


"As we evolved in small bands, and now live in a crowded civilization of seven billion, we face new problems in figuring out how to get along. This book greatly clarifies our situation by providing a world history of economic systems, and by analyzing many of the recent catastrophes of globalization. The writing is exceptionally vivid, the conceptual framework penetrating. It's a real achievement." - Kim Stanley Robinson, author of 2312 and the Mars Trilogy


"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

Product Details

ISBN-13: 9781137282583
Publisher: Palgrave Macmillan US
Publication date: 06/17/2013
Edition description: 2nd ed. 2013
Pages: 287
Product dimensions: 6.00(w) x 9.10(h) x 0.90(d)

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