Show Less

Inspiring Economics

Human Motivation in Political Economy

Bruno S. Frey

Bruno S. Frey illustrates what he perceives to be the inspirational quality of economics and how this differs from the type of economics studied in many academic institutions. He introduces insights into economics from a psychological perspective, dealing with issues such as transformation of anomalies, identification in democracy and crowding effects, and focuses on intrinsic motivation and how it is undermined.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 2: From Economic Imperialism to Social Science Inspiration

Bruno S. Frey


ECONOMIC IMPERIALISM It has become generally accepted within the economics profession to apply economic reasoning beyond the area of the economy. Such applications – known as Rational Choice Analysis – have, for instance, been made to education, health, the natural environment, the family, military conflict, ethics, history, sports, religion and the arts. At the same time, the rational choice analysis, on which economics is based, has been exported to several other disciplines, such as political science, international relations, sociology and law. In particular, the invasion of the rational choice paradigm into political science, called Public Choice, has proved to be a major success. However, there are first signs that the easy gains in insights achieved when a paradigm is applied to a new area are diminishing. Economics, and in particular Public Choice, is no longer as exciting as it used to be. Normality in the form of orthodox neo-classical economics has taken over. Progress tends to be marginal; the subject becomes more and more standardized. Many contributions are rather mechanistic, while originality and innovation threaten to disappear altogether. Today, people fancy other areas, such as evolutionary or chaos theory, but it is, of course, an open question whether these new trends will ever reach a degree of popularity comparable to rational choice. This rather sober evaluation of the present state of economics does not imply that there are no fascinating areas and topics in the field. Over the last few years, relevant new insights have been gained even in traditional subjects....

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.