This contribution offers an introduction to the Special Issue 'Rethinking the European Social Market Economy'. It places the Special Issue against the background of the debate on free markets versus social protection in the European Union and the inclusion of the notion of 'social market economy' in the Treaty on European Union. It sketches the meaning and development of the social market economy concept, and introduces the key questions underlying this (...) Special Issue and the contributions included in it. (shrink)

The collapse of Communism in the regimes in Eastern Europe and the former Soviet Union has brought forth a plethora of alternative political and economic models for the reorganization of those societies. The vacuum that has been left could be regarded as an ideal laboratory for the testing of competing theories, and the temptations to experiment with the more benign forms of constructivist rationalism are likely to prove irresistible. If liberal capitalism is to be successfully created, it will clearly not (...) have the same biography as it has had in the Western European and Anglo-American countries, where its emergence was the result of slow evolution: often its appearance and survival were due to a quite fortuitous combination of circumstances. In those countries it was not the result of any deliberate democratic choice but the outcome of a happy confluence of traditional rules and customary practices, and the participants in them had little idea of the form of the system that they were creating. Indeed, ideological sanctification was almost an afterthought, and democratic approval was belated and in most cases not enthusiastic. Britain was a liberal capitalist society, and possessed the necessary body of private law, some time before the franchise was significantly democratized . It is, of course, recent theoretical and empirical research which has revealed that the political choice mechanisms that developed haphazardly after the success of the market are a potential threat to it. (shrink)

This article offers a synthesis of and conclusion to the contributions included in the Special Issue 'Rethinking the European Social Market Economy'. Based on different understandings of citizenship in the European Union and the roles of the EU and its member states in providing social protection arrangements, it develops a typology of four models of the EU's role in social protection. It then discusses the contributions to this Special Issue in light of this typology and (...) draws a number of overarching conclusions. (shrink)

The Civil Economy approach, as developed by Italian economists Luigino Bruni and Stefano Zamagni, aims at introducing reciprocity into the economy as a humanizing factor. Despite being presented as an innovative perspective, the CE approach shares many characteristics with the German model of Social Market Economy. The present paper compares both approaches, showing that they in fact share a normative basis and similar aims but address them from diverse points of view; namely, CE addresses them (...) from a virtue ethics perspective and SME from an institutional ethics one. This leads them to stress different aspects and to focus on diverse problems. Therefore, CE would not constitute an alternative to SME but a complement. Thus, a combination of both approaches should allow each to take advantage of their respective strengths and lead to a better result in terms of the common good. (shrink)

This book examines the theoretical foundations of order ethics and discusses business ethics problems from an order ethics perspective. Order ethics focuses on the social order and the institutional environment in which individuals interact. It is a well-established paradigm in European business ethics. The book contains articles written by leading experts in the field and provides both a concise introduction to order ethics and short summary articles homing in on specific aspects of the order-ethical paradigm. It presents contributions describing (...) fundamental concepts, historical roots, and the economic, social, and philosophical background of the theory. The second part of the handbook focuses on the theory's application in business, society, and politics, casting new light on an array of topics that loom large in contemporary ethical discourse.​. (shrink)

The dominant understanding of political corporate social responsibility suggests new, broader political roles for businesses in the globalized economy, challenging the classical liberal social order. In this paper, we show how the major framing of the political CSR discussion not only challenges the classical liberal social order but also goes against the more general political economic perspective of the regulated market economy. We argue that this latter tendency of the political CSR discussion is its (...) main weakness. We introduce a Rawlsian reframing of political CSR that is in line with the idea of a global-regulated market economy and compatible with some of the basic global ethical aims of the political CSR movement. (shrink)

This article introduces the special issue on “Relational Work in Market Economies” by explaining the origins of the concept and its value in illuminating a dimension of market activity that has not been systematically addressed by social scientists. It also explains why this focus on individual economic transactions could be relevant for those whose interest centers on broader questions of political economy. Finally, there are brief descriptions of the other six articles that make up this special (...) issue. (shrink)

Economic explanations of inequality in liberal economies often appeal to social norms. This article argues that recent economic policies and institutional interventions, in favor of deregulation and away from participatory practices in both the political and economic spheres, have elicited norms that increasingly resemble those of the economic theory that has informed these interventions. This has altered the social ethos in an inegalitarian direction—individuals are more likely to conceive of themselves as acquisitive maximizers in their daily life, and (...) there has been a reduction in the number of institutional settings for people to deliberate on their values, commitments, and other priorities. (shrink)

This article seeks to subject Fred Block and Margaret Somers’ influential reconstruction of Karl Polanyi’s The Great Transformation to a systematic review. I show that Block & Somers’s central claim—that Polanyi’s thinking underwent a “theoretical shift” as he wrote his seminal book—is not supported by archival evidence. I demonstrate that all the narrative keys that Block & Somers advance to lend plausibility to their discovery of a “theory of the always-embedded market economy” in The Great Transformation, wither under (...) critical probing. While this article does not advance a comprehensive alternative reconstruction of Polanyi’s main work, the essential continuities it uncovers in his social thought suggest that Polanyi’s book is best understood as the culmination of his long-standing efforts to rebuild a radically transformative socialism on non-Marxist foundations. The recognition that Polanyi’s political purposes extend far beyond regulated capitalism or social-democracy, I conclude, makes it possible—and indeed necessary—to read The Great Transformation as an internally coherent work of social theory. (shrink)

It is a violation of legitimate academic freedom to attempt to link Catholicism to a particular school of economic thought and shut down all further debate. Whether the realm of human choice, which economics describes, is subject to an array of cause-and-effect relationships is obviously a matter for human reason to determine. From there, reason can then investigate these relationships. Although economic policy has a moral dimension, economics as a positive scienceconsists merely of an edifice of cause-and-effect relationships, and to (...) that extent is as autonomous as the purely descriptive sides of all other sciences. (shrink)

There is a move away from a market economy in health care in the United States and a move towards such a market in Germany.1 This article tries to make explicit what underlies the moral intuition that there is a tension between a market economy and health care. First, health care is analyzed in terms of the economic theory of the market and incompatibilities are described. The moral problem is identified as the danger of (...) liquefying the distinction between persons and things . The basic moral intuition seems to be the classical social contract: as a functioning market is governed by the principle of commutative justice , free riders have to be kept away, which is achieved by coercion that is not provided by the market; coercion can be justified by a social contract. The special moral problems of a social contract for health care are discussed. It is argued that public coercion in order to collect contributions for essential health care is justified. (shrink)

The current study sought to assess the mediating role of green market orientation dimensions in the relationship between social risk and new product performance among European Multinational Enterprises (EMNEs). We also assessed the moderating role of entrepreneurial orientation in the relationship between green market orientation and new product performance. The study was based on primary data gathered from 317 EMNEs in Ghana. After various validity and reliability checks, ordinary least squares (OLS) analysis was performed to estimate the (...) various relationships hypothesized in the study. The study finds that social risk has a negative effect on the success of EMNEs' new products. This negative effect is however nullified by the positive mediating effects of strategic green market orientation, tactical green market orientation and internal green market orientation. Entrepreneurial orientation also played a significant moderating effect in the relationship between green market orientation dimensions and EMNEs' new product performance. Based on this, theoretical and managerial contributions were made. (shrink)

In a market economy, members of professions—or at least those for whom their profession is a vocation—are vulnerable to a distinctive kind of objectionable exploitation, namely the exploitation of their vocational commitment. That they are vulnerable in this way arises out of central features both of professions and of a market economy. And, for certain professions—the care professions—this exploitation is particularly objectionable, since, for these professions, the exploitation at issue is not only exploitation of the professional’s (...) vocational commitment but also of her even more basic commitment to morality. (shrink)

Plastic consumption is an important aspect of contemporary living, and studies that systematically examine consumers’ plastic waste recycling intentions from an ethical perspective are scarce. Considering the severity of plastic waste recycling problems globally based on the stimulus-organism-response paradigm, this study analyses how the information publicity influences consumers’ plastic waste recycling intentions from an ethical perspective in an emerging market economy. We investigate this link by focusing on the indirect effect of perceived social pressure and the moderating (...) role of media disposition (i.e., media richness and content trustworthiness). Data from a three-wave field survey of 469 household consumers from China showed that social pressure mediated the positive relationship between information publicity and ethical recycling intentions. Additionally, media richness and content trustworthiness moderate the link between information publicity and consumers’ perceptions of social pressure. These findings provide encouraging evidence for applying the SOR paradigm to explain the ethical recycling intention of consumers. The findings may assist policymakers in motivating consumers to think ethically about plastic waste recycling. (shrink)

Morality and economic rationality: integrative economic ethics as the rational ethics of economic activity; Part II. Reflections on the Foundations of Economic ...

In lieu of an abstract, here is a brief excerpt of the content:DESIRED POSSESSIONS: KARL POLANYI, RENÉ GIRARD, AND THE CRITIQUE OF THE MARKET ECONOMY Mark R. Anspach CREA, Paris! f '""phe most radical critique of liberal capitalism ever:" that is how JL Louis Dumont describes 7Ae Great Transformation, Karl Polanyi's classic work on the rise of the market system. But the French anthropologist goes on to observe that, when one confronts this same critique with the ethnography (...) of tribal societies, "one may ask whether Polanyi did not in fact come up short; having criticized the economy as an idea, he thought he could retain it as a thing..." (Dumont xiv, xvi). Is the economy indeed a "thing" that has always existed in some form everywhere, and if so, what manner of thing is it? In a word, what is an economyfor? Is there a particular aim that any economy must serve? A specific motive that it necessarily brings into play? We will begin by looking at Polanyi's answer to this question. "No human motive is per se economic," Polanyi tells us. "There is no such thing as a sui generis economic experience in the sense in which man may have a religious, aesthetic, or sexual experience." It is market society, with its dependence on a disembedded economic system, which fosters the illusion that the "economic" motives of hunger and gain necessarily underlie every economic system (1968, 63-4). In reality, however, "human beings will labor for a large variety of reasons as long as things are arranged accordingly." For example, "Monks traded for religious reasons... The KuIa trade ofthe Trobriand islanders... is mainly an aesthetic pursuit. Feudal economy was run on customary lines. With the Kwakiutl," industry appears to have been "a point of honor," and 1 82Mark R. Anspach so on (1968, 68). The trick, it seems, is to "arrange things accordingly." An economic system can be "run on noneconomic motives," Polanyi explains, without linking the process of production or distribution "to specific economic interests attached to the possession of goods," as long as "every single step in that process is geared to a number of social interests which eventually ensure that the required step be taken" (2001, 48). Now, there is a danger in this presentation. It could lead a reader to conclude that other societies arrange things cunningly so that all these social interests are harnessed to ensure the performance of the steps necessary to economic processes in a kind ofelaborate ruse—a ruse which the out-in-the-open operation ofthe economy in our society gives us the ability to see through. Very well, such a reader might acknowledge, the economy is an "instituted process," and, yes, the act of instituting it "shifts the place ofthe process in society" (Polanyi 1968, 148), but ifyou track it down to its hiding place and strip away the social contrivances in which it has been embedded, what you will find is still the economy as we know it—indeed, the economy which market society alone lays bare. In this reading, or rather misreading, the "real" economic aims that market society achieves directly are elsewhere accomplished only in the most cumbersomely indirect fashion. This kind of erroneous conclusion will likely be difficult to counter as long as one posits an opposition between multiple, variable and diffuse social interests, on the one hand, and the apparently straightforward individual interest in the possession of goods, on the other. Wherever the economy is submerged in social relationships, Polanyi says, a man "does not act so as to safeguard his individual interest in the possession ofmaterial goods; he acts so as to safeguard his social standing, his social claims, his social assets" (2001, 48). The problem with such an opposition between individual and social is that a market-minded theorist can overcome it simply by broadening the individual interest in the possession ofgoods to include the possession ofreified social goods. Once social interests are conceptualized as "social assets," to use Polanyi's own expression—or as "symbolic capital," to cite a more recent formulation—they lend themselves to "economizing" even in the formal sense, and Polanyi's carefully constructed distinction between the substantive and the formal collapses, apparently confirmingthe universality of the market... (shrink)

The study presented is the result of a field survey conducted in Latvia in 1991. The brief of this research was to trace the role of the ‘private’ farm sector that has begun to emerge in the wake of the transition from a central-command to a market-oriented economy. Thus a look at the legislative acts embodying the agrarian reform is ccompanied by an analysis of the recent developments in local production systems. The study of ‘production systems’, or that (...) part of economic analysis that comes under the rubric of ‘farm systems’, was employed here for the first time to analyze a Soviet-type economic system in transition. The first and second sections, which focus on the historical evolution of Latvia's agriculture and the economics underpinning it, range in compass from the ‘first’ agrarian reform to collectivization and on to the present situation. This is followed by a look at the current, or ‘third’, land reform initiative (section 3), particular emphasis being accorded the emergence of new production structures and the problems posed by the transformation of the old ones (sections 4 and 5). The next section includes a discussion of the links between the farms of the socialized sector and of the nascent private one (section 6). The concluding remarks provide a recapitulation of the study's main findings. (shrink)

The problem that I present in this paper concerns the issue of ethical evaluation of algorithms, especially those used in social media and which create profiles of users of these media and new technologies that have recently emerged and are intended to change the functioning of technologies used in data management. Systems such as Overton, SambaNova or Snorkel were created to help engineers create data management models, but they are based on different assumptions than the previous approach in machine (...) learning and deep learning. There is a need to analyze both deep learning algorithms and new technologies in database management in terms of their actions towards a person who leaves their digital footprints, on which these technologies work. Then, the possibilities of applying the existing deep learning technology and new Big Data systems in the economy will be shown. The opportunities offered by the systems mentioned above seem to be promising for many companies and—if implemented on a larger scale—they will affect the functioning of the free market. (shrink)

The aim of this analysis was to examine the effects on stature in two nationally representative samples of Polish 19-year-old conscripts of maternal and paternal education level, and of degree of urbanization, before and after the economic transition of 1990. Data were from two national surveys of 19-year-old Polish conscripts: 27,236 in 1986 and 28,151 in 2001. In addition to taking height measurements, each subject was asked about the socioeconomic background of their families, including paternal and maternal education, and the (...) name of the locality of residence. The net effect of each of these social factors on stature was determined using four-factor analysis of variance. The secular trend towards increased stature of Polish conscripts has slowed down from a rate 2·1 cm per decade across the period 1965–1986 to 1·5 cm per decade between 1986 and 2001. In both cohorts, mean statures increase with increasing size of locality of residence, paternal education and maternal education. The effect of each of these three social factors on conscript height is highly significant in both cohorts. However, the effect of maternal education has increased substantially while that of size of locality of residence and paternal education diminished between 1986 and 2001. These results imply that the influence of parental education on child growth cannot be due solely to a relationship between education and income, but is also perhaps a reflection of household financial management which benefits child health and growth by better educated parents, regardless of level of income. In addition they suggest that, irrespective of whether there are one or two breadwinners in the family, it is the mother, more so than the father, who is principally responsible for the extent to which such management best favours child health and growth. The asymmetry between the importance of maternal as against paternal education for child growth, clearly seen in the 1986 cohort, became more accentuated in 2001, after the abrupt transition from a command to a free-market economy in the early 1990s. (shrink)

Among business ethicists, Adam Smith is widely viewed as the defender of an amoral if not anti-moral economics in which individuals’ pursuit of their private self-interest is converted by an ‘invisible hand’ into shared economic prosperity. This is often justified by reference to a select few quotations from The Wealth of Nations. We use new empirical methods to investigate what Smith actually had to say, firstly about the relationship between free market institutions and individuals’ moral virtues, and secondly about (...) the further relationship between virtues and societal flourishing. We show with more quantitative precision than traditional scholarship that the invisible hand reading dramatically misrepresents both the nuance and the sum of Smith’s analysis. Smith paid a great deal of attention to a flourishing society’s dependence on virtues, including the non-self-regarding virtues of justice and benevolence, and he worried also about their fragility in the face of the changed incentives and social conditions of commercial society. (shrink)

This article considers the possibility of attaining equality in principle. It begins by proposing the degree of equality that we can expect or hope to achieve in the foreseeable future. It defines the two grand strategies for achieving equality in the last century: socialism and social democracy. Markets are necessary in any complex society, and they perform both a coordination function and an incentive function. It is argued that an understanding of the relative importance of these functions is necessary (...) in order to assess the degree to which economic equality can be achieved. The two most important institutions for achieving equality are redistributive taxation and the reduction in the variation of human capital through public education. The article discusses whether democracy can be expected to implement the kind of educational finance policies which would be necessary to eliminate dynastic variation in the distribution of human capital. (shrink)

Despite the growing public awareness of social sustainability issues, little is known about what drives firms to emphasize social criteria in their supplier management practices and what the precise benefits of such efforts are. This is especially true for relationships with international suppliers from the world's emerging economies in Asia, Latin America, and Eastern Europe. Building on stakeholder theory, we address the issue by examining how pressures from customers, the government, and employees as primary constituencies of the firm (...) determine the extent to which firms consider social aspects in the selection of emerging economy suppliers. Further, we analyze how such socially sustainable supplier selection relates to the capabilities of the firm's suppliers, its market reputation, and the learning in its supply management organization. We test the developed research framework empirically using data from 244 U. S. and German corporations. Our findings, consistent with our hypothesized model, suggest that middle-level supply managers as internal stakeholders play a major driving role for firms' socially sustainable supplier selection, and that strong positive links exist between that selection and the investigated outcomes. (shrink)

This study examines the moderating effects of corporate social responsibility (CSR) on the association between market orientation and firm performance in the context of an emerging economy. The results from a sample of firms that operate in Dubai indicate that CSR has a synergistic effect on the impact of market orientation on business performance. The results of our research on the moderating effects of CSR on market orientation subsets reveal that although CSR moderates the association (...) between customer orientation and business performance, it does not moderate the association between competitive orientation and interfunctional coordination and performance. The results of this study are discussed, and implications for practitioners and researchers are presented. (shrink)

The "justice of markets" is intricately connected to the treatment of the poor and the disadvantaged in market economies. The increased interest of multinational corporations in low-income market segments affords, on one hand, the opportunity for a more inclusive capitalism, and on the other, the threat of greater exploitation of poor and disadvantaged consumers. This article traces the contributions of Catholic Social Teaching and its basic principles toward providing insight into what constitutes "justice" in such "marketing to (...) the impoverished" situations. (shrink)

In this paper I examine Axel Honneth’s normative reconstruction of the market as a sphere of social freedom in his 2014 book, Freedom’s Right. Honneth’s position is complex: on the one hand, he acknowledges that modern capitalist societies do not realise social freedom; on the other hand, he insists that the promise of social freedom is implicit in the market sphere. In fact, the latter explains why modern subjects have seen capitalism as legitimate. I will (...) reconstruct Honneth’s conception of social freedom and investigate how it is realised in the sphere in which Honneth sees it most successfully at work, the sphere of interpersonal relations. I then move on to the sphere of the market economy and discuss two related problems of this view that stem from his interpretation of Hegel. Next, I consider Honneth’s method of “normative reconstruction” and his reconstructions of the sphere of consumption and, finally, the labour market. My conclusion will be that market institutions cannot realise social freedom, and that this insight should orient the philosophical direction of critical social theory. (shrink)

The article posits the concept of economy of mutuality as an intellectual mediation space for shifts in emphasis between market and social structures within economic theory and practice. Economy of mutuality, it is contended, provides an alternative frame of reference to the dichotomy of market economy and social economy, for inquiry about what business is for and what values it presupposes and creates. The article centers around the objective of gaining a broadened (...) understanding of business so as to include not just market economy, but social enterprise and social economy. In pursuit of this objective, a range of various archetypes of business enterprise are considered in light of higher ends of economic life. The highest telos of business encompassing all such archetypes, it is argued, is founded on reciprocity and integral human development. The article concludes that, compared to market economy per se, economy of mutuality provides a better conceptual framework for business in undertaking the challenges of sustainability. (shrink)

Recent decades have seen a resurgence of contractarian thinking about the nature and origins of the state. Scholars in this tradition ask what constraints rational, self-interested actors might deliberately impose upon themselves. In response, Hobbes, Rousseau, Locke, and other early contractarians answered that laws of property were an attractive alternative to “the war of all against all.” More recently, James Buchanan, Russell Hardin, Mancur Olson, Gordon Tullock, and others have used contractarian principles to justify laws that solve a variety of (...) Prisoner's Dilemmas and other collective-action problems. And in the distributional realm, John Rawls and others have applied contractarian analysis to investigate how material wealth ought to be allocated among people. (shrink)

This study attempts to fill in two research gaps in the extant literature concerning the ecosystem for social innovation in the context of emerging market economies such as India. The study first attempts to assess the potential of corporate social responsibility (CSR) in not-for-profit entities such as technology business incubators (TBIs) to stimulate social innovations in the prevalent ecosystems in emerging markets. Further, using a random-effects Tobit model, the study examines the characteristics of firms that spend (...) higher percentages of CSR expenditure on not-for-profit TBIs/societies/trusts in India. The study provides policy suggestions to create an entrepreneurial ecosystem for promoting social innovation in emerging markets such as India. (shrink)

The discussions about the reform of state-owned enterprises are so far dominated by economic and legal considerations while the ethical dimension of this highly complex problem is being barely addressed explicitly, much less developed systematically and integrated into a broader analytical framework for companies in China. This paper is a proposal to introduce this kind of ethical considerations. First, the main features of the reform of state-owned enterprises are briefly summarized and a number of critical issues are identified. Second, the (...) "balanced concept of the firm" is presented and compared with other approaches to corporate ethics in chiefly Western literature (discussions on "corporate social responsibility", the stakeholder approach, and social contract theories). Finally, the relevance of this "balanced concept of the firm" for the reform of state-owned enterprises is briefly discussed. (shrink)

This book provides a systematic commentary on the first two books of the Bible: Genesis and Exodus. Drawing on these two essential books, it subsequently offers new readings of several issues relevant for today’s economic and social life. Western Humanism has its own founding cultural and symbolic codes. One of them is the Bible, which has for millennia provided a wealth of expressions on politics and love, death and economy, hope and doom. Biblical stories have been revived and (...) reinterpreted by hundreds of generations, and have informed many of our most beautiful works of art, not to mention the dreams of children and adults alike. And they have given us hope during the many painful times of exile and oppression that we have gone through, and are going through still. Among the books of the Bible, in both the Jewish and Christian traditions, Genesis and Exodus represent the true foundation of biblical theology and anthropology, but in them we also find the roots of the culture of markets, money and commerce, which would go on to flourish during the Middle Ages and ultimately form the ‘spirit of capitalism’ or the ‘religion of capitalism’ in the modern era. This book examines the Biblical foundations of our conception of social relations, and offers new insights on the present economic and social discourse. (shrink)

This chapter analyzes European social policy as a test case to comment on both the originality and the weakness of a unique supranational legal order, such as the one created in 1957 with the Treaty of Rome. Regulatory measures in social policy, related to equal treatment, nondiscrimination, and working conditions were implemented via hard law measures aiming at the harmonization of standards. The chapter also looks at the latest innovations in social policy brought about by the Lisbon (...) Treaty. Article 3 of the Treaty on European Union (TEU) mentions full employment among the objectives to be pursued in a social market economy. The economic and financial crisis has accentuated the problems of supranational coordination versus national initiatives and has given rise to exceptional austerity actions that have departed from the methods provided for in the treaty. (shrink)

Like nature itself, modern economic life is driven by relentless competition and unbridled selfishness. Or is it? Drawing on converging evidence from neuroscience, social science, biology, law, and philosophy, Moral Markets makes the case that modern market exchange works only because most people, most of the time, act virtuously. Competition and greed are certainly part of economics, but Moral Markets shows how the rules of market exchange have evolved to promote moral behavior and how exchange itself may (...) make us more virtuous. Examining the biological basis of economic morality, tracing the connections between morality and markets, and exploring the profound implications of both, Moral Markets provides a surprising and fundamentally new view of economics--one that also reconnects the field to Adam Smith's position that morality has a biological basis. Moral Markets, the result of an extensive collaboration between leading social and natural scientists, includes contributions by neuroeconomist Paul Zak; economists Robert H. Frank, Herbert Gintis, Vernon Smith, and Bart Wilson; law professors Oliver Goodenough, Erin O'Hara, and Lynn Stout; philosophers William Casebeer and Robert Solomon; primatologists Sarah Brosnan and Frans de Waal; biologists Carl Bergstrom, Ben Kerr, and Peter Richerson; anthropologists Robert Boyd and Michael Lachmann; political scientists Elinor Ostrom and David Schwab; management professor Rakesh Khurana; computational science and informatics doctoral candidate Erik Kimbrough; and business writer Charles Handy. (shrink)

Purpose of the article is to partially describe underpinning economics for the circular economy. A circular economy is an advancement from the linear economy which behaves according to the hierarchy of 6R, preferring reuse, remanufacture or recycle solutions insead of disposal. This new approach is a trigger of new business models seeking many times vor various kinds of support from the side of government. However, governmental support is not neither the only option nor the most functional one. (...) Underpinning economics for the circular economy can be based also at market-based tools. What we have in mind under this term for the purspose of this paper is the game in the market being played between buyers and sellers. Methodology: We have analyzed this interaction using game theory tool. The scietific goal of our paper was to suggest a quick market-based solution how to support circular economy business models whilst helping to the society to solve certain social problems. Our findings have led to a newly proposed way, how the current game in pricing could be changed. An emphasis shall be placed on strategies how to rise prices of linear economy products whilst offering wider social benefits to small sellers of such products. The price increase of linear economy products is considered in this paper as a market-based incentive to support recycled, remanufactured ones, whilst circular economy products are becoming more economically feasible in comparison with more expensive linear economy products. (shrink)

This article discusses the value of gift exchange in online social media. In the first part, the authors show how most of the commentators have considered online gifting as an alternative to the classical market economy. Yet the recent territorialization of the web challenges this perspective. As a consequence, the internet can no longer be considered a reply to capitalism. In the second part, the authors argue that in anthropology and social philosophy the term ‘gift’ has (...) often been used improperly, and that gift exchange has nothing to do with goods exchange, but with mutual recognition. In the third part, they use this definition to stress the importance of gift circulation through Facebook’s ‘Like’ button and the Twitter feature called ‘Mention’. In conclusion, the authors deal with the ‘Like economy’, i.e. the interference between gift exchange and market economy which is daily at work online. (shrink)