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Sir Thomas More's Utopia : An overlooked economic classic
Author(s) -
Mangeloja Esa,
Ovaska Tomi
Publication year - 2019
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/ecaf.12326
Subject(s) - utopia , sketch , common property , property (philosophy) , work (physics) , sociology , term (time) , neoclassical economics , law and economics , economics , law , political science , philosophy , engineering , epistemology , property rights , computer science , mechanical engineering , physics , algorithm , quantum mechanics
Sir Thomas More's Utopia , published in 1516, is a classic work of how to organise a society based on common property. With a unique mix of common property, institutions and sound economic insights, we argue that More built a framework for a society that could be viable in the long run. While the conditions that make Utopia work are quite restrictive, it does provide a sketch of a society where common property may not stifle long‐term development, but is associated with productive workers and people content with their lives.