Economic theory of the emotions, pleasure and pain (An Institute for Economic & Financial Research library book)
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Economic theory of the emotions, pleasure and pain (An Institute for Economic & Financial Research library book)

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Published by American Classical College Press .
Written in English


  • Aspect psychologique,
  • Douleur,
  • Économie politique,
  • Émotions,
  • Plaisir,
  • Psychologie

Book details:

The Physical Object
FormatUnknown Binding
ID Numbers
Open LibraryOL11055732M
ISBN 100866541128
ISBN 109780866541121

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the psychology of the emotions. In fact, references to economic theory by emo-tion theorists are perhaps even rarer than references to emotion theory by economists. The two fields seem to exist in near-complete isolation from each other. One reason for this state of affairs may have to do with the different expla-nanda of the two disciplines. Aristotle offered in Rhetoric II his own theory of the emotions, which was neither the mere preliminaries to developing such a theory, nor a theory appropriated from a predecessor such as Plato. In his theory, to have an emotion is to experience pain, pleasure or both, where this pain or pleasure is intentional and representational. An emotion is pain or pleasure at the emotion's object, where Author: Jamie Dow.   Abstract. This chapter has three parts. It first identifies what the sociology of emotions offers to understanding economies and how that understanding might be extended. It then considers prominent figures in both sociology and economics—Smith, Spencer, Durkheim, Veblen, Weber and Marshall as well as Keynes and various contemporaries—and their treatment of emotional factors. Emotions in Economic Theory and Economic Behavior by George Loewenstein. Published in vol issue 2, pages of American Economic Review, May

  By focusing the theory on simple pleasure and pain devolves human thinking to animalistic needs. As a corollary Karl Marx, in Das Kapital, criticised utilitarianism on the grounds that the principle failed to afford attention to the phenomenon that people from different socioeconomic context perceive joy differently.   In today’s post, I want to review the role of emotion in economic behaviour as emotions used to play an important part in Economics. Jeremy Bentham, for example, who is regarded as the founder of modern utilitarianism, gave emotions a prominent role in the decision process and viewed the concept of utility as the sum of emotions. See additionally Loewenstein () for a review of the role and importance of emotions in economic theory and economic behavior. The role of emotions in financial decision-making is recognized. Asymmetry between pain and pleasure. Thomas Szasz, the late Professor of Psychiatry Emeritus at the State University of New York Health Science Center in Syracuse, New York, explored how pain and pleasure are not opposites ends of a spectrum in his book, "Pain and Pleasure .

The book takes the reader from everyday conceptions of pleasure and emotion through to the latest insights into thenature and functions of emotions at the interface of psychology and neuroscience, before exploring topics such as the nature of subjective experience and future possibilities including emotions . Pleasure, joy and delight [laetitia] involve passing to state of greater perfection, that is, to greater power. Pain, displeasure, and sorrow [tristitia], in contrast, involve passing to state of lesser perfection and power. Joy and sadness, however, are simply species of . the pain experience to be negative passion which had to be conquered by reason. He believed that pain was conveyed by blood to the heart, but excluded it from his classification of the five senses, describing it as 'a quale {meaning emotional quality) of the soul; a state of . Emotions in Economic Theory and Economic Behavior By GEORGE LOEWENSTEIN* When Jeremy Bentham () first proposed the construct of utility, emotions figured prom-inently in his theory. Because Bentham viewed utility as the net sum of positive over negative emotions, he devoted a substantial part of his treatise on utility to a discussion of.