Publication details
Special Issue: “The Community of Advantage”
| Authors | |
|---|---|
| Year of publication | 2021 |
| Type | Article in Periodical |
| Magazine / Source | International Review of Economics |
| MU Faculty or unit | |
| Citation | |
| web | https://link.springer.com/content/pdf/10.1007/s12232-021-00369-x.pdf |
| Doi | http://dx.doi.org/10.1007/s12232-021-00369-x |
| Keywords | editorial article |
| Attached files | |
| Description | The publication of The Community of Advantage (2018) was an important event for scholars working in the research avenues opened by Robert Sugden in the last 40 years. At the core of Sugden’s theoretical system are the nature and function of the market and the economy, which are refected by J. S. Mill’s expression chosen as the title of this book. From this perspective, the market is a dense network of mutually benefcial relationships that are richer the more people difer from one another. Sugden aims to show that the cornerstone of the market economy is not self-interest, as Adam Smith and almost all modern economists believed, nor the pursuit of the common good, but rather the mutual beneft between the individuals involved in the exchange. In today’s rhetoric that increasingly relies on sports or militaristic language to present the market as a race or a fght, Sugden reminds us of the ancient idea that the market is the greatest form of cooperation that human beings are capable of and have achieved across the globe. |
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