Some New Books To Add to Your List This Spring

|Peter Boettke|

The series I edit with Timur Kuran at Cambridge -- Cambridge Studies in Economics, Choice and Society -- will be adding two new books this spring -- Humanomics by Vernon Smith and Bart Wilson, and Persecution and Toleration by Noel Johnson and Mark Koyama.

While neo-classical analysis works well for studying impersonal exchange in markets, it fails to explain why people conduct themselves the way they do in their personal relationships with family, neighbors, and friends. In Humanomics, Nobel Prize-winning economist Vernon L. Smith and his long-time co-author Bart J. Wilson bring their study of economics full circle by returning to the founder of modern economics, Adam Smith. Sometime in the last 250 years, economists lost sight of the full range of human feeling, thinking, and knowing in everyday life. Smith and Wilson show how Adam Smith's model of sociality can re-humanize twenty-first century economics by undergirding it with sentiments, fellow feeling, and a sense of propriety - the stuff of which human relationships are built. Integrating insights from The Theory of Moral Sentiments and the Wealth of Nations into contemporary empirical analysis, this book shapes economic betterment as a science of human beings.

And,

Religious freedom has become an emblematic value in the West. Embedded in constitutions and championed by politicians and thinkers across the political spectrum, it is to many an absolute value, something beyond question. Yet how it emerged, and why, remains widely misunderstood. Tracing the history of religious persecution from the Fall of Rome to the present-day, Noel D. Johnson and Mark Koyama provide a novel explanation of the birth of religious liberty. This book treats the subject in an integrative way by combining economic reasoning with historical evidence from medieval and early modern Europe. The authors elucidate the economic and political incentives that shaped the actions of political leaders during periods of state building and economic growth.

 

I should also point out that my book with Paul Aligica and Vlad Tarko will also be out in 2019.

 

 

Classical liberalism entails not only a theory about the scope of government and its relationship with the market but also a distinct view about how government should operate within its proper domain of public choices in non-market settings. Building on the political economy principles underpinning the works of diverse authors such as Friedrich Hayek, James Buchanan and Vincent and Elinor Ostrom, this book challenges the technocratic-epistocratic perspective in which social goals are defined by an aggregated social function and experts simply provide the means to attain them. The authors argue that individualism, freedom of choice, and freedom of association have deep implications on how we design, manage and assess our public governance arrangements.
The book examines the knowledge and incentive problems associated with bureaucratic public administration while contrasting it with democratic governance. Aligica, Boettke, and Tarko argue that the focus should be on the diversity of opinions in any society regarding "what should be done" and on the design of democratic and polycentric institutions capable of limiting social conflicts and satisfying the preferences of as many people as possible. They thus fill a large gap in the literature, the public discourse, and the ways decision makers understand the nature and administration of the public sector.