Economics for a Post-Material Future

About Economics for a Post-Material Future

When asked, most people could say something about their personal philosophy-those beliefs and values that guide them on their path through life. In their theorizing and empirical work, economists normally assume that we humans make choices in the world for the purpose of maximizing our well-being. The philosophies behind our choices rarely get much traction in economic research beyond the idea of maximization itself. This I believe to be mistaken. Beliefs and values indeed influence the choices we make, economic and otherwise. My contention in the pages ahead is that shifts in personal philosophies matter and can fundamentally alter economic arrangements and outcomes. We may seek to maximize our well being, but our notion of what this means shifts with time and circumstances. What's of importance to us today may not be so tomorrow. To make my point in this book, I will describe a…

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