How Social Forces Impact the Economy

Social forces are essential determinants of behavior,macroeconomic outcomes,and the effectiveness of economic policies. How Social Forces Impact the Economy emphasizes the need for a broader conception of social economics to understand how economies work. It explores how people form preferences,learn from others,and the consequences of considering social factors in policy.

Format: Paperback / softback
Length: 244 pages
Publication date: 01 February 2022
Publisher: Taylor & Francis Ltd

Social forces play a crucial role in shaping the behavior of individuals, the functioning of economies at the macroeconomic level, and the effectiveness of economic policies. However, this dimension is often overlooked in mainstream economics.
In How Social Forces Impact the Economy, author Markus Heinrichs argues that a broader conception of social economics is necessary to gain a comprehensive understanding of how economies operate. He suggests that adopting a social approach to economics can help us explore how individuals form preferences, learn from others, and behave in ways that are influenced by social norms and institutions.

The book is organized into three parts. Part I focuses on microeconomics, bringing individual behaviors and entrepreneurs into a social context. It explores how social interactions and networks influence decision-making, market outcomes, and the distribution of resources. Part II delves into macroeconomic topics, such as the social nature of money and quasi-monies like Bitcoin. It examines how money developed as a social institution and how social forces play a significant role in economic development. Part III examines the consequences of considering social factors in policy-making, including environmental policy, industrial policy, and policies promoting greater equality.

Each chapter contributor highlights the new insights and possibilities that arise from a fuller understanding of social economics. The book is valuable reading for anyone interested in the relationship between economics and sociology, the impact of social forces on policy effectiveness, human behavior, and the overall economy.

By integrating social forces into economic analysis, we can gain a more holistic understanding of how economies function and develop more effective policies that address social and economic challenges. This book serves as a valuable contribution to the field of social economics and provides a roadmap for future research and policy-making.

Weight: 449g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032235684