What Price the Moral High Ground?
Ethical Dilemmas in Competitive Environments New edition
By (author) Robert H. Frank
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What Price the Moral High Ground? by Robert H. Frank
Book DescriptionFinancial disasters - and stories of the greedy bankers who precipitated them - seem to underscore the idea that self-interest will always trump concerns for the greater good. Indeed, this idea is supported by the prevailing theories in both economics and evolutionary biology. But is it valid? In "What Price the Moral High Ground?", economist and social critic Robert Frank challenges the notion that doing well is accomplished only at the expense of doing good. Frank explores exciting new work in economics, psychology, and biology to argue that honest individuals often succeed, even in highly competitive environments, because their commitment to principle makes them more attractive as trading partners. Drawing on research he has conducted and published over the past decade, Frank challenges the familiar homo economicus stereotype by describing how people create bonds that sustain cooperation in one-shot prisoner's dilemmas. He goes on to describe how people often choose modestly paid positions in the public and nonprofit sectors over comparable, higher-paying jobs in the for-profit sector; how studying economics appears to inhibit cooperation; how social norms often deter opportunistic behavior; how a given charitable organization manages to appeal to donors with seemingly incompatible motives; how concerns about status and fairness affect salaries in organizations; and, how socially responsible firms often prosper despite the higher costs associated with their business practices. Frank's arguments have important implications for the conduct of leaders in private as well as public life. Tossing aside the model of the self-interested homo economicus, Frank provides a tool for understanding how to better structure organizations, public policies, and even our own lives.
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Book DetailsISBN: 9780691124018
(216mm x 140mm x 13mm)
Imprint: Princeton University Press
Publisher: Princeton University Press
Publish Date: 1-Aug-2005
Country of Publication: United States
Books By Author Robert H. Frank
Principles of Macroeconomics, Paperback (May 2015)
With questions, explanations and exercises, the authors help students relate economic principles to a host of everyday experiences such as going to the ATM or purchasing airline tickets. They encourage students to become "economic naturalists:" people who employ basic economic principles to explain what they observe in the world around them.
Principles of Microeconomics, Paperback (April 2015)» View all books by Robert H. Frank
With questions, explanations and exercises, the authors help students relate economic principles to a host of everyday experiences such as going to the ATM or purchasing airline tickets. They explain students to become "economic naturalists:" people who employ basic economic principles to explain what they observe in the world around them.
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Author Biography - Robert H. Frank
Robert H. Frank is Henrietta Johnson Louis Professor of Economics at Cornell University's Johnson School of Management. He is the author of "Choosing the Right Pond, Passions Within Reason", and "Luxury Fever" (Princeton), and he is the coauthor of "The Winner-Take-All Society". Frank is also a regular contributor to the Economic Scene column in the "New York Times".
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