A Not-so-dismal Science: A Broader View of Economies and by Mancur Olson

By Mancur Olson

A lot of economics' maximum successes were outdoor the conventional obstacles of the self-discipline. fiscal principles were the highbrow concentration within the research of legislations, whereas within the research of politics, economists and political scientists utilizing economics-type tools are uniquely influential. In sociology and historical past, economics has had a smaller yet transforming into effect via ''rational selection sociology'' and ''cliometrics.'' This e-book indicates that, in calling economics the ''dismal science,'' Thomas Carlyle was once profoundly mistaken. financial principles have illuminated behaviour in all the social sciences as well as the economists' conventional area. The broadening of economics and using economists' tools by means of social scientists in different fields is resulting in a unified and confident view of economies and societies.

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He assume s that , i n groups wit h sufficien t coherence , externalitie s o f many kinds will at times be internalized, a t least if the externalities are "symmetric " ones tha t leav e mos t individual s as victim s a s wel l a s perpetrator s o f th e diseconomy, These conclusions , an d th e principal-agen t an d commercia l la w context s that Cooter emphasizes, leav e the reader with the impression that he is thinking mostly o f groups that ar e not ver y large . Thoug h h e doe s not g o into th e numbers issue explicitly, it is clear that if the number s involved are sufficientl y small his conclusions ar e beyon d challenge .

Thus , th e methodologicall y individualisti c metho d o f economic theor y alerts us, as no other theory has done, to important counterintuitive possibilities that policy-making has to take into account if it is to deal in a sociall y rationa l wa y wit h legacie s o f segregatio n an d othe r "group " problems. 6,1 Social Structure and Collective Action Hardin's chapter—along with his books, One for Al l and Collectiv e Action18—also helps us understand the origin s of social groups an d the patterns of exclusion and discrimination that they sometimes engage in.

6,1 Social Structure and Collective Action Hardin's chapter—along with his books, One for Al l and Collectiv e Action18—also helps us understand the origin s of social groups an d the patterns of exclusion and discrimination that they sometimes engage in. He emphasizes, building on the tw o just cite d book s an d o n Olson' s Logic o f Collective Action, that social groups cannot organiz e o r ac t to achiev e an y group interes t unles s the y can overcome the difficulties of collective action.

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