The economic explanation of individual behaviour, even behaviour outside the traditional province of the market, projects a distinctively economic image on the minds of the agents involved. It suggests that, in regard to motivation and rationality, they conform to the profile of homo economicus. But this suggestion, by many lights, flies in the face of common sense; it conflicts with our ordinary assumptions about how we each feel and think in most situations, certainly most non-market situations, and about how that (...) feeling and thought manifests itself in action. What, then, to conclude? That common sense is deeply in error on these matters? That, on the contrary, economics is in error—at least about non-market behaviour—and common sense sound? Or that some form of reconciliation is available between the two perspectives? This paper is an attempt to defend a conciliationist position. (shrink)

The economic explanation of individual behaviour, even behaviour outside the traditional province of the market, projects a distinctively economic image on the minds of the agents involved. It suggests that, in regard to motivation and rationality, they conform to the profile of homo economicus. But this suggestion, by many lights, flies in the face of common sense; it conflicts with our ordinary assumptions about how we each feel and think in most situations, certainly most non-market situations, and about how that (...) feeling and thought manifests itself in action. What, then, to conclude? That common sense is deeply in error on these matters? That, on the contrary, economics is in error—at least about non-market behaviour—and common sense sound? Or that some form of reconciliation is available between the two perspectives? This paper is an attempt to defend a conciliationist position. (shrink)

Can we decide to trust? Sometimes, yes. And when we do, we need not believe that our trust will be vindicated. This paper is motivated by the need to incorporate these facts into an account of trust. Trust involves reliance; and in addition it requires the taking of a reactive attitude to that reliance. I explain how the states involved here differ from belief. And I explore the limits of our ability to trust. I then turn to the idea of (...) trusting what others say. I suggest that we sometimes decide to trust people to be sincere and knowledgeable; and that having taken this attitude towards them, we come to believe what they say. I spell out some consequences that this has for an account of testimony, and for van Fraassen's decision theoretic principle of Reflection. (shrink)

The notion of a spontaneous social order, an order in human affairs which operates without the intervention of any directly ordering mind, has a natural fascination for social and political theorists. This paper provides a taxonomy under which there are two broadly contrasting sorts of spontaneous social order. One is the familiar invisible hand; the other is an arrangement that we describe as the intangible hand. The paper is designed to serve two main purposes. First, to provide a pure account (...) of the invisible hand, with some indication of the varieties of invisible hand (and, indeed, backhand) available. Second, to develop and motivate the unfamiliar conception of the intangible backhand. We believe that a recognition of the availability of this latter sort of spontaneous organising mechanism — and the mechanism is implicitly recognised in many traditions — is of great importance in political theory; it is of particular importance nowadays when the usual focus is entirely on the invisible hand. (shrink)