The Loss of Happiness in Market Democracies


Book Description

Despite the fact that citizens of advanced market democracies are satisfied with their material progress, many are haunted by a spirit of unhappiness. There is evidence of a rising tide of clinical depression in most advanced societies, and in the United States studies have documented a decline in the number of people who regard themselves as happy. Although our political and economic systems are based on the utilitarian philosophy of happiness--the greatest good for the greatest number--they seem to have contributed to our dissatisfaction with life. This book investigates why this is so. Drawing on extensive research in such fields as quality of life, economics, politics, sociology, psychology, and biology, Robert E. Lane presents a challenging thesis. He shows that the main sources of well-being in advanced economies are friendships and a good family life and that, once one is beyond the poverty level, a larger income contributes almost nothing to happiness. In fact, as prosperity increases, there is a tragic erosion of family solidarity and community integration, and individuals become more and more distrustful of each other and their political institutions. Lane urges that we alter our priorities so that we increase our levels of companionship even at the risk of reducing our income.




Modern Developments in Behavioral Economics


Book Description

This book examines the field of behavioral economics and provides insights into the following questions: ? Does utility bring happiness?? How do emotions and personal perspectives color our economic decisions?? How do altruism, trust, fairness and justice come into play in game theory?? Why are some organizations so successful in implementing their objectives?? Can advances in neuroeconomics unlock the secrets of how decisions are made?The book looks at decision making and behavior from the point of view of (i) individual behavior and choice; (ii) group and interactive choice; and (iii) collective choices and decision making. In particular, it covers the following aspects: instances when bounded rationality leads to decisions inconsistent with standard economic assumptions; risk and the processes by which investors and consumers make decisions; altruistic and cooperative behavior as alternatives to competition; game theory as a way to explore motives of cooperation versus competition; the determinants of happiness and the relationship between utility and well-being; the concept of social capital, including motivations for charity and being a responsible citizen; how trust and fairness relate to economic actions and the motivation to cooperate rather than compete; behavior such as crime, corruption and bribery from ethical, social and economic viewpoints; and, finally, the decision making process of collective choice and how societies develop rules for governing themselves.This is the first book to bridge economics, psychology, sociology and political sciences and explain the nuanced subtleties of decision making.




Karl Polanyi


Book Description

Karl Polanyi’s The Great Transformation is generally acclaimed as being among the most influential works of economic history in the twentieth century, and remains as vital in the current historical conjuncture as it was in his own. In its critique of nineteenth-century ‘market fundamentalism’ it reads as a warning to our own neoliberal age, and is widely touted as a prophetic guidebook for those who aspire to understand the causes and dynamics of global economic turbulence at the end of the 2000s. Karl Polanyi: The Limits of the Market is the first comprehensive introduction to Polanyi’s ideas and legacy. It assesses not only the texts for which he is famous – prepared during his spells in American academia – but also his journalistic articles written in his first exile in Vienna, and lectures and pamphlets from his second exile, in Britain. It provides a detailed critical analysis of The Great Transformation, but also surveys Polanyi’s seminal writings in economic anthropology, the economic history of ancient and archaic societies, and political and economic theory. Its primary source base includes interviews with Polanyi’s daughter, Kari Polanyi-Levitt, as well as the entire compass of his own published and unpublished writings in English and German. This engaging and accessible introduction to Polanyi’s thinking will appeal to students and scholars across the social sciences, providing a refreshing perspective on the roots of our current economic crisis.




Liberty and Security


Book Description

All aspire to liberty and security in their lives but few people truly enjoy them. This book explains why this is so. In what Conor Gearty calls our 'neo-democratic' world, the proclamation of universal liberty and security is mocked by facts on the ground: the vast inequalities in supposedly free societies, the authoritarian regimes with regular elections, and the terrible socio-economic deprivation camouflaged by cynically proclaimed commitments to human rights. Gearty's book offers an explanation of how this has come about, providing also a criticism of the present age which tolerates it. He then goes on to set out a manifesto for a better future, a place where liberty and security can be rich platforms for everyone's life. The book identifies neo-democracies as those places which play at democracy so as to disguise the injustice at their core. But it is not just the new 'democracies' that have turned 'neo', the so-called established democracies are also hurtling in the same direction, as is the United Nations. A new vision of universal freedom is urgently required. Drawing on scholarship in law, human rights and political science this book argues for just such a vision, one in which the great achievements of our democratic past are not jettisoned as easily as were the socialist ideals of the original democracy-makers.




The Political Economy of Human Happiness


Book Description

Data, methods and theories of contemporary social science can be applied to resolve how political outcomes in democratic societies determine the quality of life that citizens experience. Radcliff seeks to provide an objective answer to the debate between left and right over what public policies best contribute to people leading positive and rewarding lives. Radcliff offers an empirical answer, relying on the same canons of reason and evidence required of any other issue amenable to study through social-scientific means. The analysis focuses on the consequences of three specific political issues: the welfare state and the general size of government, labor organization, and state efforts to protect workers and consumers through economic regulation. The results indicate that in each instance, the program of the Left best contributes to citizens leading more satisfying lives and, critically, that the benefits of greater happiness accrue to everyone in society, rich and poor alike.




Free Market Fairness


Book Description

A provocative new vision of free market capitalism that achieves liberal ends by libertarian means Can libertarians care about social justice? In Free Market Fairness, John Tomasi argues that they can and should. Drawing simultaneously on moral insights from defenders of economic liberty such as F. A. Hayek and advocates of social justice such as John Rawls, Tomasi presents a new theory of liberal justice. This theory, free market fairness, is committed to both limited government and the material betterment of the poor. Unlike traditional libertarians, Tomasi argues that property rights are best defended not in terms of self-ownership or economic efficiency but as requirements of democratic legitimacy. At the same time, he encourages egalitarians concerned about social justice to listen more sympathetically to the claims ordinary citizens make about the importance of private economic liberty in their daily lives. In place of the familiar social democratic interpretations of social justice, Tomasi offers a "market democratic" conception of social justice: free market fairness. Tomasi argues that free market fairness, with its twin commitment to economic liberty and a fair distribution of goods and opportunities, is a morally superior account of liberal justice. Free market fairness is also a distinctively American ideal. It extends the notion, prominent in America's founding period, that protection of property and promotion of real opportunity are indivisible goals. Indeed, according to Tomasi, free market fairness is social justice, American style. Provocative and vigorously argued, Free Market Fairness offers a bold new way of thinking about politics, economics, and justice—one that will challenge readers on both the left and right.




Crisis


Book Description

We are living in a time of crisis which has cascaded through society. Financial crisis has led to an economic crisis of recession and unemployment; an ensuing fiscal crisis over government deficits and austerity has led to a political crisis which threatens to become a democratic crisis. Borne unevenly, the effects of the crisis are exacerbating class and gender inequalities. Rival interpretations – a focus on ‘austerity’ and reduction in welfare spending versus a focus on ‘financial crisis’ and democratic regulation of finance – are used to justify radically diverse policies for the distribution of resources and strategies for economic growth, and contested gender relations lie at the heart of these debates. The future consequences of the crisis depend upon whether there is a deepening of democratic institutions, including in the European Union. Sylvia Walby offers an alternative framework within which to theorize crisis, drawing on complexity science and situating this within the wider field of study of risk, disaster and catastrophe. In doing so, she offers a critique and revision of the social science needed to understand the crisis.




Democracy and Economic Planning


Book Description

Devine begins with an analysis of the theory and practice of capitalist planning, central planning and 'market socialism'. He argues that, while market socialism is currently favoured by many economists who reject both capitalism and the command planning of the Soviet model, it cannot fulfil the promises held out for it. In the remainder of the bo




Pluralism, Democracy and Political Knowledge


Book Description

The political discontent or malaise that typifies most modern democracies is mainly caused by the widely shared feeling that the political freedom of citizens to influence the development of their society and, related to this, their personal life, has become rather limited. We can only address this discontent when we rehabilitate politics, the deliberate, joint effort to give direction to society and to make the best of ourselves. In Pluralism, Democracy and Political Knowledge, Hans Blokland examines this challenge via a critical appraisal of the pluralist conception of politics and democracy. This conception was formulated by, above all, Robert A. Dahl, one of the most important political scholars and democratic theorists of the last half century. Taking his work as the point of reference, this book not only provides an illuminating history of political science, told via Dahl and his critics, it also offers a revealing analysis as to what progress we have made in our thinking on pluralism and democracy, and what progress we could make, given the epistemological constraints of the social sciences. Above and beyond this, the development and the problems of pluralism and democracy are explored in the context of the process of modernization. The author specifically discusses the extent to which individualization, differentiation and rationalization contribute to the current political malaise in those countries which adhere to a pluralist political system.




Undoing Depression


Book Description

The bestselling approachable guide that has inspired thousands of readers to manage or overcome depression — fully revised and updated for life in the 21st century. Depression rates around the world have skyrocketed in the 20‑plus years since Richard O'Connor first published his classic book on living with and overcoming depression. Nearly 40 million American adults suffer from the condition, which affects nearly every aspect of life, from relationships, to job performance, physical health, productivity, and, of course, overall happiness. And in an increasingly stressful and overwhelming world, it's more important than ever to understand the causes and effects of depression, and what we can do to overcome it. In this fully revised and updated edition — which includes updated information on the power of mindfulness, the relationship between depression and other diseases, the risks and side effects of medication, depression’s effect on thinking, and the benefits of exercise — Dr. O'Connor explains that, like heart disease and other physical conditions, depression is fueled by complex and interrelated factors: genetic, biochemical, environmental. But Dr. O'Connor focuses on an additional factor that is often overlooked: our own habits. Unwittingly we get good at depression. We learn how to hide it, and how to work around it. We may even achieve great things, but with constant struggle rather than satisfaction. Relying on these methods to make it through each day, we deprive ourselves of true recovery, of deep joy and healthy emotion. Undoing Depression teaches us how to replace depressive patterns with a new and more effective set of skills. We already know how to "do" depression—and we can learn how to undo it. With a truly holistic approach that synthesizes the best of the many schools of thought about this painful disease, and a critical eye toward medications, O'Connor offers new hope—and new life—for sufferers of depression.