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A Model of Dynamic Balance among the Three Spheres of Society – Markets, Governments, and Communities – Applied to Understanding the Relative Importance of Social Capital and Social Goods


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Title: A Model of Dynamic Balance among the Three Spheres of Society – Markets, Governments, and Communities – Applied to Understanding the Relative Importance of Social Capital and Social Goods
Authors: Wicks, Rick
Issue Date: 10-Mar-2008
University: University of Gothenburg. School of Business, Economics and Law
Institution: Department of Economics
Publication type: report
Series/Report no.: Working Papers in Economics
292
Keywords: meta-economic efficiency
social capital
communities
social goods
Relational Models theory
three spheres
Abstract: This paper revisits old questions of the proper subject and bounds of economics: Does economics study “provisioning”? or markets? or a method of reasoning, self-interested rational optimization? A variety of scholars and others in many fields make use of a taxonomy of society consisting of three “spheres”: markets, governments, and communities. It is argued here that this tripartite taxonomy of society is fundamental and exhaustive. A variety of ways of understanding this taxonomy are explored, ... more
ISSN: 1403-2465
URI: http://hdl.handle.net/2077/9680
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