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Introduction

In: Metaeconomics

Author

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  • Gary D. Lynne

    (University of Nebraska–Lincoln)

Abstract

The first economist, Adam Smith, was a moral philosopher. Unfortunately, modern economics moved away from the moral and ethical dimension of economics, especially in the more formal versions represented in mathematical microeconomics. It came to focus strictly on Self-interest, becoming an economics of Greed. Said move also removed consideration of the community from the economy, which means it also removed consideration of the shared Other-interest. It also removed consideration of the larger Spaceship Earth System. In contrast, Metaeconomics sees the economy as the smaller sub-system, both within the community and within the larger Spaceship Earth System. It results in bringing the shared Other-interest into a key role in tempering and perhaps bounding the tendency to excessive Greed when Self-interest is the only force.

Suggested Citation

  • Gary D. Lynne, 2020. "Introduction," Palgrave Advances in Behavioral Economics, in: Metaeconomics, chapter 0, pages 1-32, Palgrave Macmillan.
    • Handle: RePEc:pal:paichp:978-3-030-50601-8_1
    DOI: 10.1007/978-3-030-50601-8_1
    as

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