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Social preference and civil society in the institutional analysis of capitalisms: an attempt to integrate Samuel Bowles’ The Moral Economy and Robert Boyer’s Régulation Theory

Author

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  • Hiroyasu Uemura

    (Yokohama National University)

Abstract

Samuel Bowles’ “civic social preference” in The Moral Economy and Robert Boyer’s “civil society” in the régulation theory show in-depth understanding of modern society and capitalism. In this paper, the difference between their theories and possible complementary relationships are considered. First, it is necessary to understand the formation of civic social preferences with multi-layered institutions and actors both inside and outside the market economy. Citizens’ social preferences can potentially develop in a way that complements the market economy, supported by the rule of law and liberal institutions, as suggested by Bowles, as well as “civil society” in the régulation theory. This understanding is particularly important in the labor market with incomplete contracts. Second, it is necessary to develop complementary analyses of the formation of citizens’ preferences at the micro- and macro-levels. In Bowles’ framework, the rule of law and civic institutions promote the development of civic social preferences by reducing market risks, and market risks and income distribution are determined by macroeconomic dynamics, as suggested by the régulation theory. Third, it is necessary to analyze democratic processes between legislators and citizens that are determined by the dynamic feedback of the political and economic domains. In promoting policymakers’ preferences with the appreciation of citizenship and democracy, the political participation of citizens plays an important role, as suggested in Boyer’s “civic social democracy.”

Suggested Citation

  • Hiroyasu Uemura, 2019. "Social preference and civil society in the institutional analysis of capitalisms: an attempt to integrate Samuel Bowles’ The Moral Economy and Robert Boyer’s Régulation Theory," Evolutionary and Institutional Economics Review, Springer, vol. 16(2), pages 433-453, December.
  • Handle: RePEc:spr:eaiere:v:16:y:2019:i:2:d:10.1007_s40844-019-00141-5
    DOI: 10.1007/s40844-019-00141-5
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    References listed on IDEAS

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    1. Samuel Bowles and Robert Boyer., 1988. "Labor Discipline and Aggregate Demand: A Macroeconomic Model," Economics Working Papers 8875, University of California at Berkeley.
    2. Robert Boyer, 2008. "Democracy and social democracy facing contemporary capitalisms: A "régulationist" approach," Working Papers halshs-00586315, HAL.
    3. Bowles, Samuel & Boyer, Robert, 1988. "Labor Discipline and Aggregate Demand: A Macroeconomic Model," Department of Economics, Working Paper Series qt8sb2623g, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    4. Bowles, Samuel, 1985. "The Production Process in a Competitive Economy: Walrasian, Neo-Hobbesian, and Marxian Models," American Economic Review, American Economic Association, vol. 75(1), pages 16-36, March.
    5. Epstein,Gerald A. & Gintis,Herbert M., 2011. "Macroeconomic Policy after the Conservative Era," Cambridge Books, Cambridge University Press, number 9780521148412, October.
    6. Samuel Bowles, 1998. "Endogenous Preferences: The Cultural Consequences of Markets and Other Economic Institutions," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 75-111, March.
    7. Robert Boyer, 2008. "Democracy and social democracy facing contemporary capitalisms: A "régulationist" approach," PSE Working Papers halshs-00586315, HAL.
    8. Samuel Bowles, 2014. "Niccolò Machiavelli and the Origins of Mechanism Design," Journal of Economic Issues, Taylor & Francis Journals, vol. 48(2), pages 267-278.
    9. Bowles,Samuel, 2012. "The New Economics of Inequality and Redistribution," Cambridge Books, Cambridge University Press, number 9781107601604, October.
    10. Bowles,Samuel & Gintis,Herbert & Gustafsson,Bo (ed.), 1993. "Markets and Democracy," Cambridge Books, Cambridge University Press, number 9780521432238, October.
    11. Bowles,Samuel, 2012. "The New Economics of Inequality and Redistribution," Cambridge Books, Cambridge University Press, number 9781107014039, October.
    12. Bowles, Samuel & Boyer, Robert, 1988. "Labor Discipline and Aggregate Demand: A Macroeconomic Model," American Economic Review, American Economic Association, vol. 78(2), pages 395-400, May.
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    More about this item

    Keywords

    Social preference; Civil society; The moral economy; The régulation theory; Samuel Bowles; Robert Boyer;
    All these keywords.

    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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