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Between Rules and Incentives: Uncovering H ayek's Moral Economy
Author(s) -
Rodrigues João
Publication year - 2013
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/ajes.12018
Subject(s) - nonmarket forces , incentive , relation (database) , moral economy , economics , set (abstract data type) , positive economics , moral disengagement , political science , sociology , law , market economy , politics , factor market , database , computer science , programming language
This article uncovers H ayek's moral economy. It focuses on the relation between markets, as well as on the nonmarket institutions on which the former rely, and the motivations that guide individuals' behavior. Despite his epistemological admonitions, H ayek has a rich set of suggestions about the functional importance of particular individuals' motivation and moral makeup for the development of a market society. This contributes to undermine his claims that a market society can be neutral among different values.