18:4318:43, 30 January 2020diffhist+1,231 m
Institutional economics
→Response: Clarifies that the Criticism is largely from the frame of Neoclassical Economics, which does not explicitly consider the role of Community, Law... the Moral Dimension of the Economy.
17:4817:48, 28 January 2020diffhist+458 m
Buddhist economics
Key feature of Buddhist Economics is in seeing the interdependence among people, and between people and Nature (joint Travelers on Spaceship Earth)
17:3917:39, 28 January 2020diffhist+116
Neoclassical economics
→Criticisms: Neoclassical Economics extracted the Moral Dimension from the framework, due to not giving enough attention to Adam Smith as Moral Philosopher, as made clear in the Theory of Moral Sentiments.
17:3117:31, 28 January 2020diffhist+46
Neoclassical economics
→Criticisms: Neoclassical Economics tends to ignore the essential role for having good mix of private and public property, presuming (without empirical test) the private property only (just like self-interest only ) always produces the best outcomes.
17:1417:14, 28 January 2020diffhist+879
Neoclassical economics
→Criticisms: Pointed to the presumption in Neoclassical Economics of independence among people, and between people and Nature. Empirical reality points to substantive interdependence, instead. Also highlighted how Neoclassical Economics sees only Ego based Self-interest, while empirical testing shows that an Empathy based shared Other (internalized within own-self)-interest is at work.