On the History of Social Economics: the British Contribution

Abstract

Social economics[l] is a small but growing school of thought in the United States. At first sight it appears as if “social economists” are a rather heterogeneous group defying satisfactory description. Yet we believe that there is a unity of focus: a deep concern with human needs rather than just a description of human preferences being co‐ordinated. We define “needs” as “necessary” wants and immediately the question imposes itself: necessary for what? Our answer is human life with its higher or lower qualities. Social economics seeks not only to enable and maintain life, but also to “enlarge” it and fulfil it. As a direct result values are hierarchical, from the lower (survival) values to the highest (ethical, aesthetic) values. Such is implicit in the generally acknowledged human‐values‐orientation of the field, since values can be seen as need satisfiers.

Citation

Lutz, M.A. (1980), "On the History of Social Economics: the British Contribution", International Journal of Social Economics, Vol. 7 No. 5, pp. 241-259. https://doi.org/10.1108/eb013870