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| Author: | Bowles, S. Gintis, H. |
| Title: | Social capital and community governance |
| Journal: | Economic Journal
2002 : NOV, VOL. 112:483, p. F419-F436 |
| Index terms: | Economic theory Social economics Social welfare |
| Freeterms: | Community governance |
| Language: | eng |
| Abstract: | Community governance is the set of small group social interactions that, with market and state, determine economic outcomes. The authors argue that community governance addresses some common market and state failures but typically relies on insider-outsider distinctions that may be morally repugnant and economically costly, and that the individual motivations supporting community governance are not captured by either selfishness or altruism; that communities, markets and states are complements, not substitutes; Communities will probably increase in importance in the future. |
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