The ethical economy

The homo oeconomicus approach, which has long been used in economics, is increasingly being replaced by an empirically grounded model of behavior based on a new economic paradigm. At the heart of Samuel Bowles ’volume are the drivers of our economic decisions as well as our value judgments changing by economic regulations. Building on the work of Daniel Kahneman and Richard Thaler, director of the behavioral program at the Santa Fe Institute in New Mexico and professor emeritus at the University of Massachusetts, he draws attention to the renewal of economic policy regulations, encouraging a fair, the development of a renewable management system. The volume presents society to readers as complex systems driven by various preferences, and makes the impact of regulations sensible along illustrative game theory strategies.