A Comment on “What Is Wrong with the West’s Economies?” by Edmund Phelps

Timo Airaksinen ()
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Timo Airaksinen: University of Helsinki

Homo Oeconomicus: Journal of Behavioral and Institutional Economics, 2016, vol. 33, issue 1, No 7, 37-41

Abstract: Abstract Professor Phelps has written a plea for social, technological, and economic innovation as the key to human flourishing. I cannot see how the middle class drab life could be alleviated by innovation. This paper criticises his views and argues that people need what I call openings (opportunities) that channel their natural activities in the right way.

Keywords: Happiness; Human flourishing; Opportunity; Innovation; Human values (search for similar items in EconPapers)
JEL-codes: D6 I31 O35 O43 P16 P30 Z1 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1007/s41412-016-0013-4

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