Society Decides

Lester Hadsell ()
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Lester Hadsell: University at Albany, State University of New York, Department of Economics

Chapter 2 in Social Economies, 2026, pp 9-28 from Springer

Abstract: Abstract Part I of Social Economics examines how values affect views of economic systems. Individuals and societies decide how to structure economic activity, one of the most important aspects of their lives. Deciding what is fair and acceptable reflects cultural differences that have been formed over time and is seen in differences between countries in the annual average number of hours worked, restrictions on prices, and government taxing and spending, to name a few, in the tug of war between market forces and alternatives. This chapter introduces the broad perspective taken in Social Economics. Economies are social constructs and are best examined with insights from a variety of disciplines, enriching our understanding of the economic choices we make as individuals and collectively as a society. Economic research that incorporates this social science perspective forms the leading edge of today’s understanding of those choices, using insights from a wide range of disciplines, including psychology, sociology, philosophy, and biology (genoeconomics). Such an approach reflects the direction of twenty-first-century economists who are engaging with researchers from related disciplines to uncover previously hidden truths.

Keywords: Culture; Genoeconomics; Price gouging; Taylor Swift; Property rights; Social networks; Socialism; Nudges; Diversity (search for similar items in EconPapers)
Date: 2026
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DOI: 10.1007/978-3-032-21916-9_2

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