The Cordial Economy - Ethics, Recognition and Reciprocity

Cham: Springer Verlag (2018)
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Abstract

This book proposes, from a civil perspective —such as that developed by Stefano Zamagni— and a cordial perspective —such as that developed by Adela Cortina—, orientations to design an economy in tune with what the historical moment demands. Among other things, this comes from encouraging institutions, organisations and companies to include in their designs aspects as important for carrying out their activities as cordial reciprocity, mutual recognition of the communicative and affective capacities of the linked or linkable parties, public commitment and the active participation of civil society. The book first shows the conceptualisation of the process of self-interest as operating for one’s own benefit and its inclusion in the orthodox economic model. In Chapter 2 it then displays some of the logical/formal and experimental limits of the axiomatic economics model to discover the possibility of building bridges between theoretical modelling and factual validation. Chapter 3 demonstrates the fragility of a rationality model based on the paradigmatic figure of homo oeconomicus. Chapter 4 reflects on the critical process that has identified reciprocity as a determining factor for human cooperation, turning this behaviour into a paradox in which the lack of a reasonable explanation from the selfish perspective becomes inconsistent in the predominant economic theory. Chapter 5 is from a moral point of view it describes and criticises the different approaches to reciprocity observed by sociologists, biologists, psychologists and economists. Chapter 6 analyses three mutual recognition proposals as possible foundations for human cooperation, highlighting one of them –cordial recognition, developed by Cortina– because it is more closely related to studies of reciprocity, particularly the most recent contributions from the neurosciences. Chapter 7 proposes cordial reciprocity as a horizon of meaning for the various approaches to reciprocity observed. Chapter 8 explores the possible emergence and development of cordial goods, a type of relational and communicative good that enables joint actions to take place in different contexts of human activity. Chapter 9 analyses the application and implementation of cordial reciprocity at the macro, meso and micro levels of the economy. And finally, it proposes guidelines for designing a monitoring and compliance system which, based on the communication, storage and processing of big data and the committed participation of stakeholders, offers businesses the possibility of inspecting their underlying dimensions of morality, emotions and responsibility.

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Chapters

Cordial Big Data: Managing the Cordial Dimension of a Business

The big data era represents a challenge for businesses, but also a great opportunity for them. Big Data, and increasingly advanced, versatile and accessible data analysis tools, offer businesses the chance to develop and systemise extraordinary quantities of data from many and varied sources, as wel... see more

Economic Selfishness: The Architecture of Homo Oeconomicus

Cordial Reciprocity: The Ethical Basis of Human Cooperation

Reciprocity is one of the main challenges for twenty-first-century Economic science because of its leading role in specifying and developing human cooperation. Beyond the exchange of equivalents controlled by contracts and guaranteed by Law, reciprocity, in the many forms it takes, allows us to thin... see more

Economic Theory. The Axiomatisation of Homo Oeconomicus

Reciprocity Approaches: The Possibility of Human Cooperation

Finding an explanation for human cooperation in highly competitive contexts has become one of the main challenges for economics. Many field studies and laboratory experiments with strategy games have shown that human beings are predisposed to cooperate with their peers in a competitive context like ... see more

Cordial Recognition: The Communicative and Affective Link in Human Relationships

Evolutionary and Neuronal Game Theory depicts an emotional and moral anchorage for human cooperationHuman cooperation. The ligatioLigatio that ob-ligesOb-liges the parties requires critical reflection that validates both the stimuli that engenders and promotes it and their sense of being. This appro... see more

Cordial Economics: The Participation of Civil Society in the Economy

As previous chapters have shown, no single source of motivation lies behind economic behaviour, which is more likely the result of many causes, most importantly maximising one’s own benefitBenefits, as well as prosocial feelingsFeelingsProsocial feelings, and moral principles and values. These quest... see more

Economic Racionality. The Reciprocity Paradox

Self-interest, as the constant maximisation of personal benefit, is one of the fundamental concepts of rational choice theory. Axiomatised through certain assumptions, like those corresponding to Greed and Insatiability, it has managed to confine the economic agentEconomic agents within the paradigm... see more

Cordial Rationality: The Language of Human Cooperation

The role played by reciprocity and other intangible assets for the economy, as well as the confirmation of the motivationalMotivation heterogeneity and moral commitment that underlie them, demonstrate the need to extend the margins of economic rationalityEconomic rationality in an affective and comm... see more

Cordial Goods: The Role of Intangibles in Economics

Extending the margins of economic rationality in an effective and ethical-critical sense through Cordiality opens the door to the possibility of managing and promoting the intangible capital which, just like reciprocity, Trust, affinity or Reputation, is a condition of the possibility of economic pr... see more

Economic Theory. The Axiomatisation of Homo Oeconomicus

One of the main aspirations of the science of economics throughout history has been the formal modelling of its theories. This desire has led to approaches including William Petty’s political arithmetic, William JevonsJevons, W.S.’ marginal calculusMarginal calculusCalculus and the general equilibri... see more

Economic Selfishness: The Architecture of Homo Oeconomicus

Self-interest is one of the fundamental aspects of the traditional theory of economics. Interpreted today as the constant search for one’s own maximum benefit, it is a perspective that is rooted in the psychological selfishness of the seventeenth century, opening into economic thought through the wo... see more

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