2021

DOI: 10.1007/s10818-021-09319-7

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Ordinaries

Terence C. Burnham

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Abstract: The Ordinaries column began in 2019 to promote a Neo-Darwinian synthesis of neoclassical and behavioral economics. This article places already-published, as well as upcoming, Ordinaries columns into a comprehensive framework for a new, biological economics. The goal remains to improve economics by utilizing natural science theory and methodologies.

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Cited by 7 publications

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“…In this article, we critique modern welfare economics from a natural science perspective, using the same approach used in previous Ordinaries articles (Burnham & Phelan, 2019, 2020a, 2020b, 2020c, 2021a, 2021b, 2021c, 2022a, 2022b, 2022c:…”

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Biological welfare economics: a natural science critique of normative economics

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2023

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Welfare economics analyzes societal well-being based on individual levels of selfevaluated happiness or "utility." All human emotions, including what economists label as utility, are evolutionary creations, shaped by natural selection for the sole purpose of altering individuals' behavior in ways that maximize their relative reproductive success. Because of the evolutionary origins and nature of human motivations, welfare economics has little to say about societal well-being. While welfare economics is not useful for normative statements, it nonetheless provides a measure of the difficulties in implementing policy.

“…In this article, we critique modern welfare economics from a natural science perspective, using the same approach used in previous Ordinaries articles (Burnham & Phelan, 2019, 2020a, 2020b, 2020c, 2021a, 2021b, 2021c, 2022a, 2022b, 2022c:…”

mentioning

confidence: 99%

Biological welfare economics: a natural science critique of normative economics

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,

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2023

Self Cite

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Welfare economics analyzes societal well-being based on individual levels of selfevaluated happiness or "utility." All human emotions, including what economists label as utility, are evolutionary creations, shaped by natural selection for the sole purpose of altering individuals' behavior in ways that maximize their relative reproductive success. Because of the evolutionary origins and nature of human motivations, welfare economics has little to say about societal well-being. While welfare economics is not useful for normative statements, it nonetheless provides a measure of the difficulties in implementing policy.

Ordinaries 8

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2022

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Ordinaries 9: How to write a biological economics article

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2022

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This paper outlines an approach for writing biological economic articles. There is a schism within economics between neoclassical and behavioral schools. Biology holds the promise of a modern synthesis of these apparently competing theories. Natural selection favors maximization analogous to the sort assumed by neoclassical economics. Behavior, however, is produced by specific physiologic machinery that sometimes produces non-maximizing behavior, primarily in evolutionarily novel settings, such as modern cities.Ordinary: "With no special or distinctive features; normal. Not interesting or exceptional; commonplace."-Oxford English dictionary. Economics and the potential role of biologyHow does one write a biological economics article? The goal of biological economics is to synthesize, reconcile, and improve the two main economic schools of thought: neoclassical and behavioral. And while the guidelines for writing a neoclassical or behavioral economics article are clear, there is no similar guide for biological economics. This paper fills that void by creating a template -a "how-to" guide -for writing a biological economics article.The instructions for writing a neoclassical economics article have been described as: "The combined assumptions of maximizing behavior, market equilibrium, and

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