Departmental Bulletin Paper A new socio-economic framework to bring together economy, market, human being, and society

梅田, 徹  ,  Toru, Umeda

The goal of this paper is to present a framework to collectively study the economy, the market, the actor, and the society in order to overcome economism. To do so, we need to break the spells of two giant figures---Karl Polanyi and Adam Smith. what can and cannot we learn from these two great scholars? Theoretical refinement by economists has promoted the detachment of economics from economic realities and ethics. Typically, this results in a highly abstracted concept of market. A careful look at the substantive economy reveals that economic actors in the market are linked interdependently with each other to earn livelihoods. This viewpoint relates to my challenges against the conventional concepts of the homo economicus model and of the market. Two new concepts of market, hard and soft markets, are proposed : the former is less embedded in social systems, while the latter is deeply embedded in social systems. What is called homo socio-economicus is also introduced as a new human actor model. This multidimensional human actor model, which can behave selfishly and altruistically, and the two different market concepts are incorporated into an interactive framework to explain a relationship between actors and markets : a market is characterized by how actors behave in the market and actors’ behaviors are determined by the characteristics of the market.

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