The End of Individualism and the Economy: Emerging Paradigms of Connection and Community, 1st Edition (Hardback) book cover

The End of Individualism and the Economy

Emerging Paradigms of Connection and Community, 1st Edition

By Ann E. Davis


264 pages | 15 B/W Illus.

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Hardback: 9781138321267
pub: 2020-02-26
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Individualism has been one of the driving forces in the rise of modern capitalism, and methodological individualism has been dominant in social science for many years. In this paradigm the economy is seen as a machine to routinize production and improve efficiency, and the discipline of economics has come to focus on control and automation. Recent innovations in natural and social sciences, however, indicate a shift in thinking away from individualism and towards interconnectedness.

The End of Individualism and the Economy: Emerging Paradigms of Connection and Community traces the origins of “the individual” in history, philosophy, economics and social science. Drawing from linguistic philosophy, there is increasing attention to language as a social substrate for all institutions, including money and the market. One irony is that the "individual" is a key term, related to distinct institutions and associated expertise; that is, "the individual" is social. The book explores the influence of individualism in the subversion of class consciousness, the view of impersonality as a virtue, and the rise of financialization. The founding assumption of economics, the rational autonomous individual with exogenous tastes, undercuts social solidarity and blocks awareness of interconnections and interdependencies. The text looks forward and embraces the new paradigms and alternative forms of governance, economics, and science which can be developed based on collectives and communities, with new values, frameworks, and world views.

This work is suitable for academics, students, scholars, and researchers with an interest in economic and social collectives and methodological individualism, as well as those studying the connections between economics and other disciplines in the social and natural sciences.

Table of Contents

(1) The Individual as a Key Term

(2) Property and Reification

(3) The Public/Private Divide

(4) The Shaping of the Modern Liberal State

(5) The Economics of “Autophagy”: Implications of the Economy as “Machine”

(6) Methods of Social Science

(7) “Unique Individuals”

(8) The Property Paradigm

(9) Contradictions

(10) Backlash

(11) Alternatives

(12) Conclusions

About the Author

Ann E. Davis is Associate Professor of Economics at Marist College, USA, and author of Money as a Social Institution: The Institutional Development of Capitalism (Routledge, 2017).

About the Series

Routledge Frontiers of Political Economy

In recent years, there has been widespread criticism of mainstream economics. This has taken many forms, from methodological critiques of its excessive formalism, to concern about its failure to connect with many of the most pressing social issues. This series provides a forum for research which is developing alternative forms of economic analysis. Reclaiming the traditional 'political economy' title, it refrains from emphasising any single school of thought, but instead attempts to foster greater diversity within economics.

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Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Economic History
BUSINESS & ECONOMICS / Economics / General
BUSINESS & ECONOMICS / Economics / Theory