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Title:Moralische Gefühle als Grundlage einer wohlstandschaffenden Wettbewerbsordnung: ein neuer Ansatz zur Erforschung von Sozialkapital und seine Anwendung auf China PDF Logo
Authors:Herrmann-Pillath, Carsten
Issue Date:2009
Series/Report no.:Working paper series // Frankfurt School of Finance & Management 110
Abstract:In his comprehensive critique of current economic approaches to social capital, Durlauf (2002) recommends a stronger reliance on methods of experimental economics and social psychology. This paper surveys different notions of social capital and submits an alternative conceptual approach based on the economics of identity (Akerlof and Kranton 2000), which is supplemented by recent interdisciplinary insights into the role of emotions in coordinating human interactions. I claim that this perspective goes back to Adam Smith and his Theory of Moral Sentiments. A new definition of social capital is proposed that puts shared framed emotions into the central place. I apply this new approach on China, especially with reference to the notion of guanxi (networks).
Subjects:Social capital
Adam Smith
economics of identity
shared framed emotions
China
JEL:A12
D03
Persistent Identifier of the first edition:urn:nbn:de:101:1-2009021926
Document Type:Working Paper
Appears in Collections:Frankfurt School - Working Paper Series, Frankfurt School of Finance and Management

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