Humanistic Economics: The New Challenge
by Mark A. Lutz, Kenneth Lux, Lux
Category: Business & Economics

Economics has long been imprisoned by a one-dimensional view of the person and the narrow assumption of self-interest that this entails. Humanistic Economics breaks out of this paradigm by proposing an alternative framework that is no longer incompatible with actions undertaken for the sake of deeply held values, compelling reasons, and higher interests. The new theoretical foundation makes it possible to discuss in a new light questions of social institutions, such as the relationship between government and the market, as well as social policy goals like full employment, industrial democracy, and balanced international trade. Equipped with this basic insight, the authors proceed to century-old ideologies of individualist capitalism and scientific socialism.