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The Review of Austrian Economics

, Volume 21, Issue 1, pp 103–106 | Cite as

Benedetto Gui, Robert Sugden (eds). Economics and Social Interaction: Accounting for Interpersonal Relations. Cambridge: Cambridge University Press, 2005, xv + 299 pages, ISBN 0-521-84884-9.

  • Thomas Marmefelt
Article

Economics and Social Interaction: Accounting for Interpersonal Relations, edited by Benedetto Gui and Robert Sugden, is based upon Sugden’s analysis of Smith’s fellow-feeling and Gui’s relational goods, which together provide a shared theoretical understanding of interpersonal relations that yields a coherent book consistent with the spontaneous order tradition, which includes David Hume, Adam Ferguson, Carl Menger, Friedrich von Hayek, and Robert Sugden, although that link is not explored. In particular, Robert Sugden’s rediscovery of Adam Smith’s concept of fellow-feeling provides a common denominator of the book, which definitely is of interest to Austrian economists, as it certainly sheds light on the emergence of morality of markets. However, some comparison with contributions of Austrian economics on that issue would have been appropriate. After all, Hayek (1973 [1982]) considers the spontaneous order to be what Adam Smith called ‘the Great Society’ and Karl Popper called ‘the...

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Copyright information

© Springer Science+Business Media, LLC 2007

Authors and Affiliations

  1. 1.Department of Social SciencesUniversity of SödertörnHuddingeSweden

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