The functions of the family in the great society

unpublished ms., St. Lawrence University, 2007

Review of Economics of the Household, 2007

Over the past two hundred years, large, modern firms have tended to replace small, family businesses. In parallel, the family has declined as a social institution. We suggest that these developments are interrelated. Because information of cheating in market transactions spreads only gradually in large markets, the reputation of the family firm could support contractual performance only in small, traditional markets. As markets grew in size, this reputational mechanism could no longer operate. The small, family firm was then replaced by the large, modern firm. This transition led to a decrease in the importance of the family.

Rose is a rose is a rose is a rose. -Gertrude Stein

Economic History of Developing Regions, 2016

International Journal of Health, Economics, and Social Sciences (IJHESS)

The concept of the family has been established in Indonesian economic theory ever since the republic's declaration. There is controversy over how the family principle should be employed as the foundation of the Indonesian economy, though the notion is still not comprehended. Thus, the aim of this research is to describe in what way the family principle in Indonesia’s Economy has been regarded and understood in order to avoid misconception or multi-interpretations to comprehend it. Qualitative approach which is based on literary studies is used in this research. This approach considers being appropriate for studies in the environment of economic theory since researchers attempt to comprehend the understanding and thoughts of significant figures in the Indonesia economy. The findings show that there are two critical and similarly important elements of the family principle to comprehensively understand the concept namely cooperation and competition. The research suggests that both ...

Institutions, Communication and Values, 2009

The relationship between market and society is a hotly debated issue in the social sciences. At the level of theory, this discourse dates back to considerations of social order in which Thomas Hobbes, Adam Smith, and David Hume were among the most important early contributors. The discussion has considerable ideological overtones as well, where the contribution of the market to welfare and well-being is at stake. Welfare is usually conceptualized in material terms, and we surmise that both market and society can contribute to welfare and well-being. There are spheres outside of the domain of the market that contribute to well-being, and a certain accomplishment in the market can contribute to well-being that is not captured in welfare. In this paper we do not deny that. We conceptualize the relation between market and society, focusing more specifically on periods of reform. Reforms in the health care sector are a case in point. Expanding and Purifying Markets Views on how market and society relate to each other may be classified according to figures 1 through 3. There are three broad ways in which to perceive the relation between the two spheres. First is to see market(s) and society as two separate realms (figure 1). Obviously, the neoclassical economic view, specifically the Walrasian approach, 347

The Review of Austrian Economics, 2015

Tenth Annual Conference of the European Society for the History of Economic Thought (ESHET), Porto, 2006

Is modern society shaped primarily by man's will and wishes or is it the result of a development which is not the result of human intentions and, therefore, cannot be changed by conscious design? The answer which liberal economists offered at the beginning of the 20 th century is completely different, even contrary, to the answer which we got at the end of the century. The leading figures of economic liberalism at the end of the 19 th and the beginning of the 20 th century-the authors of the so-called subjective value theory-based their campaign against the naturalism of post-Ricardian classical theory on the idea of human capacities and abilities. Not only economic value was regarded as a subjective category expressing human desires, needs and wishes. The Economic Society-or Capitalism, if you prefer-as a whole was understood as the result of a historical progress which realized essentially human desires and aspirations. As Leon Walras had stated in his 'Elements of Pure Economics or the Theory of Social Wealth': "The appropriation of scarce things or of social wealth is a phenomenon of human contrivance and not a natural phenomenon. It has its origins in the exercise of the human will and in human behaviour and not in the play of natural forces … it is within our power to determine whether this appropriation shall be carried on in one way rather than in another. Obviously,