On the resolution of the boundary problem through the wealth maximization criterion: a critique of Posner

Article Abstract:

A theory of entitlements is needed in order to resolve the boundary problem. This runs counter to the ideas of Richard Posner which lack consistency and give rise to ethical problems. Entities are classified as part of society in relation to their rights to resources such as physical assets. Solutions have been developed by some theorists like Hayek. No clear answer to this issue can be provided. Posner has studied entitlement in relation to transaction costs but an ethical theory of entitlement is needed.

Economic aspects, Equality

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Notes on evolution, rationality and norms

Article Abstract:

Economists have become increasingly aware of the significance of evolution over recent years. This trend is also closely linked with growing interest in norms and institutions. Against this background, recent research has focused on evolutionary game theory, looking particularly at the origin of rational behaviour and social norms. It is argued that economists have failed to consider how the biologist's model of evolution must be amended before it can be applied to the human context.

Models, Evolution (Biology), Evolution

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Evolution and self-organization

Article Abstract:

Recent research has considered the view that evolutionary economics can serve as an approach to economic and social sciences. Evolutionary economics is made up of methodological individualism and holism, and may therefore be useful in analysing economic and social phenomena, structures and patterns. Furthermore, it may offer a unifying conception which can bring together a range of theoretical concepts.

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