Showing posts with label economics and anthropology. Show all posts
Showing posts with label economics and anthropology. Show all posts

Thursday, August 29, 2019

The Sacrificial Rites of Capitalism We Don’t Talk About — Lynn Parramore


Lynn Parramore reviews Suprita Rajan's A Tale of Two Capitalisms, which is about the intersection of economics with anthropology and sociology and the distinction between homo economicus of economics and homo communis (aka homo socialis) of anthropology and sociology — and ethics.

Ethos (ἦθος, ἔθος; plurals: ethe, ἤθη; ethea, ἤθεα) is a Greek word originally meaning "accustomed place" (as in ἤθεα ἵππων "the habitats of horses", Iliad 6.511, 15.268),[2] "custom, habit", equivalent to Latin mores.

Ethos forms the root of ethikos (ἠθικός), meaning "moral, showing moral character".[3] As an adjective in the neuter plural form ta ethika (τὰ ἠθικά), used for the study of morals, it is the origin of the modern English word ethics.
In modern usage, ethos denotes the disposition, character, or fundamental values peculiar to a specific person, people, corporation, culture, or movement. — Wikipedia
The etymology of the term "ethics" reveals that it can be traced to the customs of a people and later morphs into the dual meaning of the spirit of a people and the character of an individual. From this emerges the contemporary meaning of "ethics" as both individual and social in terms of right action and community-approved behavior.

While an act may not be illegal, that is, contra to positive law, it may be unethical in terms of an unwritten "law" as a tradition. Thus, liberalism is permeated with traditionalism. This is often overlooked in the narrow interpretation of liberalism, as in "Well, I didn't break any laws" as exculpatory. That excuse doesn't fly with the public.

INET
The Sacrificial Rites of Capitalism We Don’t Talk About
Lynn Parramore, Senior Research Analyst
Crossposted at Naked Capitalism

Sunday, July 29, 2018

Monday, July 17, 2017

BIEN — History of UBI: From Hunter-Gatherers to the 21st Century


Backgrounder. Links to an Investopedia paper.

Seems to reinforce the conclusion that sharing requires a more advanced level of collective consciousness or necessity for social cooperation to survive than exists in most places today.

BIEN
History of UBI: From Hunter-Gatherers to the 21st Century

Friday, October 9, 2015

Merijn Knibbe — Yap stone money as an example of a blockchain kind of technology

I’m reading up on the famous stone money from Yap (Cora Lee Gillilland, The stone money of Yap. A numismatic survey. Washington, 1975). About this:
1) This was a kind of blockchain money avant-la-lettre
2) And not your typical western kind of individual owned money. Because of its blockchain character it could serve as ‘ritual’, ‘gidigen’ gift-money (compare our wedding rings) as well as ‘normal’ money. Fascinating. From the link…
Real-World Economics Review Blog
Yap stone money as an example of a blockchain kind of technology
Merijn Knibbe

Friday, July 10, 2015

Alexander Douglas — Greece, honour and the ancient ties of wergeld

As I have been saying all along, it's almost never about money alone or even chiefly about money. It's complicated, and there are many factors involved, many that are not held consciously. This post explores some of them.
On the surface, it seems the Greek crisis is all about money. The Greek government has defaulted on a €1.6bn loan repayment to the IMF and is seeking a new bailout programme. Meanwhile, the Greek people are to take part in a referendum that is being billed as a choice between the euro and the drachma. 
In fact this crisis is not about money. Greece’s creditors are well aware that Greece cannot repay or even service its debt. They are happy to keep finding ways to refinance it, so long as Greece agrees to punitive austerity policies. They aim for punishment, not repayment. They care about honour and vengeance, not money. 
Modern Europe is witnessing an enactment of an ancient law known as wergeld. Greece is expected to continue paying, not until its financial debt has been cleared, but rather until its creditors think it has suffered enough.
The Conversation
Greece, honour and the ancient ties of wergeld
Alexander Douglas | Lecturer in History of Philosophy / Philosophy of Economics at Heythrop College, University of London
ht Clonal

Tuesday, May 19, 2015

Dirk Ehnts — Money – a legal, not an economic thing

I have recently read a paper by Christine Desan that is titled Money as a legal institution. The author argues that money is a legal thing, that it is defined by laws and that the law is changed in times of crisis. I very much agree with that. Economists have been so bad at understanding money because it is not their field of comparative advantage. Anthropologists have long doubted that money arose from “coincidence of wants”, and David Graebers 5,000 year history of debt has been read by so many economists that nobody can deny anymore that the story that modern textbooks tell us is wrong. Money is a legal entity. Bill Mitchell writes about money:…
Short and to the point. Read it all. What economics is missing.

econoblog 101
Money – a legal, not an economic thing
Dirk Ehnts | Berlin School for Economics and Law

Thursday, December 11, 2014

Tyler Cowen — Are anthropologists better than you think?


IT's not often that I agree with Tyler Cowen, but here's where I do.
Many economists like to dump on their fellow social scientists, and personally I find that reading anthropology is often quite uninspiring. That said, I would like to say a small bit on the superiority of anthropologists. I view the “products” of anthropology as the experiences, world views, and conversations of the anthropologists themselves. Those products translate poorly into the medium of print, and so from a distance the anthropologists appear to be inferior and lackluster (I wonder to what extent the anthropologists realize this themselves?). 
Yet anthropologists have some of the most profound understandings of the human condition. They have witnessed, absorbed, and processed some of the most interesting data, especially those anthropologists who do fieldwork of the traditional kind. 
The rest of us are simply (usually) too blind to see this. It even can be argued that anthropology is the queen and most general of the social sciences, and that economics, as a social science, is simply playing around in one of the larger anthropologically-motivated sandboxes, namely the economy.
Without some familiarity with anthropology, a person is likely to overgeneralize about human nature and the human condition based on personal introspection and one's social embedding in the web of a particular culture as a complex network arising in response to changing historical and geographical conditions. 

The assumption of neoclassical economic about representative agents, rationality, and utility as fundamental concepts in a general theory provide evidence of such credulity. 

These assumptions rest on a particular worldview constructed of particular views of human nature and the human condition that are too limited to apply even to the societies that economists attempt to model. 

To then conclude that economic "laws" are laws of nature similar to the laws of physics is unwarranted. Familiarity with anthropology also shows how the foundational assumption that such assumptions are universal laws is implausible.

Or take Adam Smith's commodity theory of money based on barter that was adopted by most economists as intuitively correct to A. Mitchell Innes's credit theory of money based on social reciprocity of obligation, later fleshed out with evidence in economic anthropologist David Graeber's Debt: The First 5000 Years.

Cowen observes that "the rest of us are simply (usually) too blind to see this." Being embedded in a social system results in cognitive-volitional-affective-perceptual and even physical biases that are difficult to detect other than through contrast. This is a reason that "travel is broadening." 

Moreover, anthropology provides insight into cultures and social systems that often stand in stark contrast to one's own, enabling the curious to compare assumptions in order to discover similarities and differences. Humans are similar biologically, but diverse culturally, sometime holding vastly divergent worldviews.

Philosopher of language Ludwig Wittgenstein was guided in part in developing his later views on the logic of language by anthropology. His early work, Tractatus Logico-Philosophicus, was based on the assumption that the logic of language could be articulated in much the same way as mathematics. He later came to realize, prompted in part by his interaction at Cambridge with Frank Ramsey and Piero Sraffa, that he had been focusing on a special case, namely the logic of description that underlies science and that the logic of ordinary language is far more complex and therefore cannot be articulated in the way he had assumed. It can only be done through examples that elucidate various structures of rules using what he called "language games."

Perhaps economics is at a similar impasse and needs to recognize that its earlier efforts had to do with delineating stylized special cases based on assumptions that are not universal and that there is no general case economic theory capable of discovering the universal laws of economic in complex emergent systems that both are subject to uncertainty and develop rapidly through technological innovation. Once that road is recognized as a dead-end, then economists will move on, as some already have been doing.

Marginal Revolution
Are anthropologists better than you think?
Tyler Cowen | Holbert C. Harris Chair of Economics at George Mason University and serves as chairman and general director of the Mercatus Center