The Economy of Esteem

The Economy of Esteem

The Economy of Esteem is a book by Geoffrey Brennan and Philip Pettit describing the role of self-esteem and honour in the economy. It was published in 2005 by Oxford University Press.

According to Brennan, others who have historically paid attention to the role of esteem in motivation include:"from Cicero and Polybius through Thomas Aquinas to Hobbes, Locke, Montesquieu, Hume, the American Founding Fathers, Kant, and notably Adam Smith"THE ESTEEM ENGINE: A RESOURCE FOR INSTITUTIONAL DESIGN. by Geoffrey Brennan [http://www.assa.edu.au/Publications/op/op12005.pdf] ] Though Brennan argues that modern 'invisible hand' economics neglects the importance of esteem.

Evidence:
"the behavior of suicide bombers in terrorist cadres; or the enthusiasm with whichsoldiers volunteer in situations of imminent warfare; or the stability ofapparently perverse norms, like the caste system in India. What of the intensetraining, commitment and effort expended by athletes – even amateurathletes?"

What is unique about esteem among currencies
*esteem can't be traded- "esteem is necessarily produced under conditions of autarky"
*esteem is subject to the paradox of hedonism

ISBN 9780199289813

References


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