Social Norms
نویسندگان
چکیده
Social norms and customs shape many economic decisions, but they have not always been at the forefront of economic analysis. Indeed, social influences were more prominently acknowledged by the founders of the discipline than by neoclassical theorists of the last century. J.S. Mill, for example, argued that custom was a potent force in setting the terms of contracts and also the wages paid to labor: “[T]he division of produce is the result of two determining agencies: competition and custom. It is important to ascertain the amount of influence which belongs to each of these causes, and in what manner the operation of one is modified by the other...Political economists in general, and English political economists above others, have been accustomed to lay almost exclusive stress upon the first of these agencies; to exaggerate the effect of competition, and to take into little account the other and conflicting principle.” (Mill, 1848, Book II, Chapter IV).
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