Economics for Humans

by Julie A. Nelson

At its core, an economy is about providing goods and services for human well-being. But many economists and critics preach that an economy is something far different: a cold and heartless system that operates outside of human control. In this impassioned and perceptive work, Julie A. Nelson asks a compelling question: If our economic world is something that we as humans create, aren’t ethics and human relationships—dimensions of a full and rich life—intrinsically part of the picture? Is it possible to take this thing we call economics and give it a body and a soul?

Economics for Humans argues against the well-ingrained notion that economics is immune to moral values and distant from human relationships. Here, Nelson locates the impediment to envisioning a more considerate economic world in an assumption that is shared by both neoliberals and the political left. Despite their seemingly insurmountable differences, Nelson notes that they both make use of the metaphor, first proposed by Adam Smith, that the economy is a machine. This pervasive idea, Nelson argues, has blinded us to the qualities that make us work and care for one another—qualities that also make businesses thrive and markets grow. We can wed our interest in money with our justifiable concerns about ethics and social well-being. And we can do so if we recognize that an economy is not a machine, but a living, beating heart that circulates blood to all parts of the body while also serving as an emblem of compassion and care. 

Nothing less than a manifesto, Economics for Humans will both invigorate and inspire readers to reshape the way they view theeconomy, its possibilities, and their place within it.

Genres: Economics, Nonfiction, Business

Paperback

First published January 1, 2006

Reviews

[Brian Gladish · Rating 1 out of 5]

This book was offered as a free eBook from the University of Chicago, and I thought I would give it a chance (I made it through chapter 1 and some spot reading). If you are a student of Austrian economics you will immediately recognize that the author is off on a value-laden tack that will add nothing to your knowledge of how the world works. The following is an example:

So how are human bodies actually doing in contemporary capitalist societies? Examining the evidence, you can find much that calls into question the idea that market functioning automatically brings about social well-being. Of course,the richer you are and the more you have benefited from the system, the more you may be likely to see the market system through rose-colored glasses. But at the other extreme, the World Health Organization says that fifteen thousand children per day die worldwide from malnutrition-related diseases.

So, the fact that fifteen thousand children per day die is a function of capitalist societies? Has the author noticed that the more capitalist a society becomes the fewer children die of malnutrition? Are the problems of the world to be solved overnight in places like the Congo?

All in all, I think the author imagines a utopia based upon her value system--a huge problem in the social sciences. She could certainly benefit from a dose of reality in the form of Mises and Hayek. Don't waste your time if those economists guide your thinking.

[Ali · Rating 5 out of 5]

Hani bir konuda bütün bildiklerinizi yeniden gözden geçirmenize neden olan bir kitap okursunuz ya. İşte Julie Nelson'un kitabı öyle bir kitap. Son yıllarda okuduğum en güzel ekonomi kitaplarından birisi diyebilirim. Feminist ideoloji ile ekonominin ve temel ekonomi kavramlarının yeniden yorumu. Kitabı hem ilk çıktığı ay, hem de bu yıl yeniden okudum. Şiddetle tavsiye ederim.

[Derek · Rating 4 out of 5]

A very short, very succinct, but very enlightening perspective on economics. Nelson rejects the classical economic model of the economy as a machine, which is accepted by both pro- and anti-market partisans, and which prevents any substantive discussion of the economy. She shows how this model is not based on any real world data, but merely on the assumptions of neo-classical economists. Nelson offers an alternative metaphor/model: that of the heart. This model integrates both the need for material provisioning and for more humanist caring values, offering a venue for cooperation between the two sides.

The book is brilliant in providing an alternative perspective on economics from one within the economics profession. Only the lack of detailed discussion of solutions for the problems of our economic structure--something seriously needed in our times--prevents a five-star rating.

[Jonathan · Rating 4 out of 5]

Concise, accessible, and well-argued case for rethinking economics. Central to Nelson's book is a criticism of the mechanistic metaphors at the heart of neoclassical economics. She traces the origin and consequences of the metaphors and offers an alternative metaphor of the "beating heart." She argues that values should not be treated as a separate sphere from economics, and their separation creates the stilted view of human nature & behavior common in economics.

[Eric · Rating 4 out of 5]

This text offers sharp, compassionate insights that reframe economic thinking in a way that feels practical and humane. Nelson’s arguments are so clear and compelling that they invite readers—especially those who shape economic narratives—to rethink long‑held assumptions.

[Doğa · Rating 2 out of 5]

sinavim icin okumak zorunda kaldim. anlatim baya kotuydu, ceviriden kaynakli olabilir. yazarin savundugu dusunceyi de hic benimseyemedim.

[Gökhan Gürgeç · Rating 4 out of 5]

As a person outside the domain, it was hard to figure out things but good for understanding the brief history of economy and her new offered academic view to economy.

[Du · Rating 4 out of 5]

This is a highly accessible look at economics from the social standpoint. It has the basics of economics covered and then throws in the affects the economy has on everyday society.

The ear of reading it, helps covey the message, and also makes this a fast and creative read.

[Brenda · Rating 4 out of 5]

Brief and essential. A discussion from the center by an economist who can articulate the middle ground between Smith and Marx.

[Simge Perçin · Rating 4 out of 5]

This book is a brief and fresh point of view about economy. Auther searchs different ways to see todays big corporate companies.

[elif kalafat · Rating 3 out of 5]

Çok iyi bir felsefi altyapıya sahip olduğunu düşünüyorum. Ekonomi bilgimin artmasıyla beraber tekrar okuyacağım kitapların başında kendisi. Kapak tasarımı mükemmeldi.