Morals and Markets

1. Front Matter

   Pages i-v

   PDF

2. Prologue

   • Daniel Friedman

   Pages 1-7

3. The Savanna Code

   • Daniel Friedman

   Pages 9-24

4. Bazaar and Empire

   • Daniel Friedman

   Pages 25-41

5. The Great Transformation

   • Daniel Friedman

   Pages 43-58

6. Utopias of Cooperation

   • Daniel Friedman

   Pages 59-71

7. Russia’s Transition to Kleptocracy

   • Daniel Friedman

   Pages 73-82

8. Japan’s Bubbles and Zombies

   • Daniel Friedman

   Pages 83-91

9. Towers of Trust

   • Daniel Friedman

   Pages 93-105

10. From Hudson’s Bay to eBay

    • Daniel Friedman

    Pages 107-124

11. Markets for Crime and Markets for Punishment

    • Daniel Friedman

    Pages 125-142

12. Mullahs’ Revenge

    • Daniel Friedman

    Pages 143-155

13. Cooling the Earth

    • Daniel Friedman

    Pages 157-168

14. Future Morals and Markets

    • Daniel Friedman

    Pages 169-181

15. Back Matter

    Pages 183-261

    PDF

In this book, economist and evolutionary game theorist Daniel Freidman demonstrates that our moral codes and our market systems, while often in conflict, are really devices evolved to achieve similar ends, and that society functions best when morals and markets are in balance with each other.

• communism
• conflict
• cooperation
• environment
• financial market
• financial markets
• Russia
• transformation
• transition
• trust

'Anyone interested in markets and morals, perhaps the central issue of our time, should read this very interesting and thoughtful book.' - Tyler Cowen, Professor of Economics, George Mason University, USA

'The message markets plus moral is excellent, it is consonant with behavioral game theory's results, including experiments with small-scale societies, and with McCloskey's recent book on bourgeois morality. But, Friedman's message is simpler and clearer.' - Herbert Gintis, Santa Fe Institute, Central Europe University (Budapest), Hungary

'I have been waiting for someone to write this book for a long time. Its use of historical anecdotes to explain why one cannot divorce a society's economics from its social contract is utterly convincing.' - Ken Binmore, Professor Emeritus, University College London, UK

'This book expertly addresses the most important issues confronting the continued evolution of morals and instituions for human socioeconomic betterment.' - Vernon L. Smith, George L. Argyros Chair in Finance& Economics, Chapman University, USA

DANIEL FRIEDMAN is Professor of Economics at UC Santa Cruz, USA.

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