The paper argues that economism and, in particular, the individual drive to maximize utility and amass profit are not enough to ensure the efficient functioning of an economy; and that even for elementary economic activities, such as trade, exchange and contracting to occur smoothly, it is...

Social scientists often emphasize how ‘culture’ and ‘social norms’ can be important determinants of economic behavior and development. This raises questions of the relative importance of economic incentives and these other more social variables, like culture, and of how...