Opportunities

Steven Rosefielde and Ralph W. Pfouts

Chapter 14 in Inclusive Economic Theory, 2014, pp 131-136 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Neo-realist theory has another face. It includes a variety of utility and welfare enhancing behaviors overlooked by Enlightenment advocates of individual reason and freedom which require people to shun materialist utility maximizing, or adopt satisficing conventions that restrict or eliminate free individual choice for the greater good whenever public policy fails. The first lacunae is exemplified by Theravada Buddhism; the second by Japanese communalist obligation. This chapter examines both phenomena to substantiate the claim that the design of superior economic systems should not be restricted to idealist and realist neoclassical paradigms…

Keywords: Inclusive Economic Theory; Satisficing; Systems; Culture (search for similar items in EconPapers)
Date: 2014
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