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Joseph Stiglitz is one of the world’s greatest economists. He has made fundamental contributions to economic theory in areas such as inequality, the implications of imperfect and asymmetric information, and competition, and he has been a major figure in policy making, a leading public intellectual, and a remarkably influential teacher and mentor. This collection of essays influenced by Stiglitz’s work celebrates his career as a scholar and teacher and his aspiration to put economic knowledge in the service of creating a fairer world. Toward a Just Society brings together a range of essays whose breadth reflects how Stiglitz has shaped modern economics. The contributions to this volume, all penned by high-profile authors who have been guided by or collaborated with Stiglitz over the last five decades, span microeconomics, macroeconomics, inequality, development, law and economics, and public policy. Touching on many of the central debates and discoveries of the field and providing insights on the directions that academic economics could take in the future, Toward a Just Society is an extraordinary celebration of the many paths Stiglitz has opened for economics, politics, and public life.
In Toward a Good Society: A Relational Lens, authors Tian-jia Dong and Dongxiao Qin theorize a mutually empowering and growth-fostering society. The authors first demonstrate the feasibility of this society by grounding it in the framework of relational psychology. Departing from there, they travel along nine paths reconstructed from nine classic social science theories. In each chapter, they respectively reconstruct and find ways to move beyond Durkheimian structural-functionalism, de Tocqueville’s communalism, Mead’s symbolic interactionism, Freud’s psychoanalytic perspective, Simmel’s network theory, Smith’s “invisible hand”, Marx’s class theory, Hobbes’s contractarianism, and Weber’s rational-legal formulation. This leads them to propose a new Golden Rule that is as simple as it is profound and foundational to what makes a good society.
Nobel Prize-winning economist explains why we need to reclaim finance for the common good The reputation of the financial industry could hardly be worse than it is today in the painful aftermath of the 2008 financial crisis. New York Times best-selling economist Robert Shiller is no apologist for the sins of finance—he is probably the only person to have predicted both the stock market bubble of 2000 and the real estate bubble that led up to the subprime mortgage meltdown. But in this important and timely book, Shiller argues that, rather than condemning finance, we need to reclaim it for the common good. He makes a powerful case for recognizing that finance, far from being a parasite on society, is one of the most powerful tools we have for solving our common problems and increasing the general well-being. We need more financial innovation—not less—and finance should play a larger role in helping society achieve its goals. Challenging the public and its leaders to rethink finance and its role in society, Shiller argues that finance should be defined not merely as the manipulation of money or the management of risk but as the stewardship of society's assets. He explains how people in financial careers—from CEO, investment manager, and banker to insurer, lawyer, and regulator—can and do manage, protect, and increase these assets. He describes how finance has historically contributed to the good of society through inventions such as insurance, mortgages, savings accounts, and pensions, and argues that we need to envision new ways to rechannel financial creativity to benefit society as a whole. Ultimately, Shiller shows how society can once again harness the power of finance for the greater good.
Debating the Good Society probes two questions lying at the heart of the ongoing culture war incontemporary America: Where does goodness come from, and how is goodsocial order to be achieved? Through the ingenious means of a fictional Internet conversation among two dozen or so Americans from various walks of life and every shade of the ideological spectrum, Debating the Good Society probes two questions lying at the heart of the ongoing culture war in contemporary America: Where does goodness come from, and how is good social order to be achieved? Traditionalists and conservatives, who tend to view human nature as inherently sinful, argue that good order must be imposed from above, by parental authority and ruling powers, by the forces of law and tradition, and, ultimately, by God. Counterculturalists and liberals, who tend to believe in the inherent goodness of human nature, claim that well-supported children will develop into well-ordered adults and that adults empowered to make their own choices will form a healthy, well-ordered society. These opposing visions underlie a host of current controversies, including philosophies of child-rearing and education, social and political policy, sexual morality, and the evolution-creation debate. By exposing the limitations of both points of view, Andrew Bard Schmookler shows how the culture war presents a challenge to all Americans. This challenge is to integrate the half-truths advanced by both sides into a higher wisdom, one that promises to take the American experiment—to see whether humans can enjoy both the blessings of liberty and the fruits of good order—to the next level of its evolution, toward which it has been straining for the better part of a century.
“Challenge[s] all of us to think deeply about what kind of society we and our children and our children’s children will want to live in.” (Margaret L. Huang, former Executive Director, Amnesty International USA) A rights revolution is under way. Today the range of nonhuman entities thought to deserve rights is exploding. Changes in norms and circumstances require the expansion of rights: What new rights, for example, are needed if we understand gender to be nonbinary? Does living in a corrupt state violate our rights? When biotechnology is used to change genetic code, whose rights might be violated? What rights, if any, protect our privacy from the intrusions of sophisticated surveillance techniques? Drawing on their vast experience as human rights advocates, William Schulz and Sushma Raman challenge us to think hard about how rights evolve with changing circumstances, and what rights will look like ten, twenty, or fifty years from now. The Coming Good Society details the many frontiers of rights today and the debates surrounding them. Schulz and Raman equip us with the tools to engage the present and future of rights so that we understand their importance and know where we stand. “Thoughtful and provocative.” —Human Rights Quarterly “[A] trail-blazing map through the new frontiers of rights . . . downright riveting.” —Gloucester Times “An accessible primer for anyone who wishes to understand the current limitations in our notions of rights and the future challenges for which we must prepare.” —Kerry Kennedy, President, Robert F. Kennedy Human Rights “Schulz and Raman outline brilliantly where [human rights] growth may take rights in the generations to come.” ―Zeid Ra’ad al-Hussein, former United Nations High Commissioner for Human Rights
Denmark and Switzerland are small and successful countries with exceptionally content populations. However, they have very different political institutions and economic models. They have followed the general tendency in the West toward economic convergence, but both countries have managed to stay on top. They both have a strong liberal tradition, but otherwise their economic strategies are a welfare state model for Denmark and a safe haven model for Switzerland. The Danish welfare state is tax-based, while the expenditures for social welfare are insurance-based in Switzerland. The political institutions are a multiparty unicameral system in Denmark, and a permanent coalition system with many referenda and strong local government in Switzerland. Both approaches have managed to ensure smoothly working political power-sharing and economic systems that allocate resources in a fairly efficient way. To date, they have also managed to adapt the economies to changes in the external environment with a combination of stability and flexibility.
This book calls for a bold forward-looking social policy that addresses continuing austerity, under-resourced organisations and a lack of social solidarity. Based on a research programme by the Webb Memorial Trust, a key theme is power which shows that the way forward is to increase people’s sense of agency in building the society that they want.
THE GOOD SOCIETY examines how many of our institutions- from the family to the government itself- fell from grace, and offers concrete proposals for revitalizing them.
Promoting care, a sense of personal responsibility for the welfare of others, is one of society's primary moral challenges. A caring society is one in which care penetrates all major social institutions including the family, schools, places of work, and worship. The purpose of this book is to present pragmatic guidelines for individuals and groups who want to enhance the caring quality of the social institutions in which they participate. The authors propose principles whereby care can be infused in routine contexts and give real-life examples to illustrate how they have been successfully applied in a variety of social settings.
For all of their focus on asset prices, financial economists rarely ask if assets are priced ethically—that is, if their prices are compatible with the public good. Yet in a world facing major, possibly catastrophic problems—global warming, for instance, and growing inequality—it is now more important than ever that we allocate capital to projects that will benefit society as a whole, not just today but far into the future. In this book, Christian Gollier develops a powerful method for transforming our societal goals of collective prosperity into the cornerstone of our financial decision making. Ethical Asset Valuation and the Good Society starts by stating transparent moral principles and, from these, derives simple rules that can be used to evaluate saving and investment decisions in terms of the public good. Rather than trying to explain observed asset prices, Gollier derives what these prices ought to be in order to direct capital toward socially desirable investments. He focuses especially on the two prices that drive most financial decisions—the price of time as reflected in the interest rate and the price of risk—and explores the role these play in our long-term planning. If investment projects in renewable energy could be financed at a lower interest rate than those linked to fossil fuels, for instance, the energy transition would be easier to accomplish. Building on criticism of the short-term thinking of financial markets, Gollier suggests ways to shift investment toward the future through the discounting of the valuation of assets and investments with long-term benefits. In this sophisticated but accessible work, Gollier builds a bridge between welfare economics and finance theory to provide a framework for ethical valuation capable of establishing what asset prices should be on the basis of our shared moral values.