On tragedy and hope: homo economicus, the invisible hand and reality

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cepal.articleNo3
cepal.bibLevelSección o Parte de un Documento
cepal.callNumberLC/PUB.2024/9-P
cepal.docTypeRevistas
cepal.jelCodeA13
cepal.jelCodeP0
cepal.jelCodeZ1
cepal.jobNumber03correa_REV-143E
cepal.physicalDescriptiontablas.
cepal.regionalOfficeSantiago
cepal.sdg1
cepal.topicEngSOCIAL INSTITUTIONALITY
cepal.topicEngCOMPETITION POLICY
cepal.topicEngMICROECONOMICS
cepal.topicSpaINSTITUCIONALIDAD SOCIAL
cepal.topicSpaPOLÍTICA DE COMPETENCIA
cepal.topicSpaMICROECONOMÍA
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaEngSOCIAL DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
cepal.workareaSpaDESARROLLO SOCIAL
dc.contributor.authorCorrea Delgado, Rafael
dc.date.accessioned2024-12-23T16:25:04Z
dc.date.available2024-12-23T16:25:04Z
dc.date.issued2024-08
dc.description.abstractThis article classifies goods according to their technical characteristics of rivalry and excludability, with the inclusion of new categories ranging from zero rivalry to infinite rivalry and from excludability to imposed access. The conceptual framework reveals concrete challenges in meeting the conditions of the first theorem of welfare economics, demonstrating that only private goods are the epitome of market theory, with an immense range of goods for which provision by means of free prices does not exist or is Pareto inefficient. A theoretical origin of externalities is proposed, as well as the technical or practical impossibility of completing markets and, through the price system, achieving their internalization. Lastly, the article demonstrates that many of the problems expected from market failures are fictitious because, rather than homo economicus, we are homo sapiens, the most cooperative beings in nature.
dc.formatTexto
dc.format.extentpáginas 51-61
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/PUB.2024/9-P
dc.identifier.urihttps://hdl.handle.net/11362/81137
dc.language.isoeng
dc.publisherECLAC
dc.publisher.placeSantiago
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo143
dc.relation.isPartOfSeriesCEPAL Review
dc.relation.translationLanguagespa
dc.relation.translationRecordDe tragedias y esperanzas: el homo oeconomicus, la mano invisible y la realidad
dc.relation.translationUrihttps://hdl.handle.net/11362/80845
dc.rights.coarDisponible
dc.subject.unbisEngECONOMIC DEVELOPMENT
dc.subject.unbisEngSOCIAL WELFARE
dc.subject.unbisEngWELFARE ECONOMICS
dc.subject.unbisEngMARKETS
dc.subject.unbisEngCONSUMER GOODS
dc.subject.unbisEngCOMPETITION
dc.subject.unbisEngSOCIAL ASPECTS
dc.subject.unbisSpaDESARROLLO ECONOMICO
dc.subject.unbisSpaBIENESTAR SOCIAL
dc.subject.unbisSpaECONOMIA DEL BIENESTAR
dc.subject.unbisSpaMERCADOS
dc.subject.unbisSpaBIENES DE CONSUMO
dc.subject.unbisSpaCOMPETENCIA
dc.subject.unbisSpaASPECTOS SOCIALES
dc.titleOn tragedy and hope: homo economicus, the invisible hand and reality
dc.type.coarartículo
dspace.entity.typePublication
relation.isAuthorOfPublication2ceb575d-abf3-4310-9844-96690dfb8299
relation.isAuthorOfPublication.latestForDiscovery2ceb575d-abf3-4310-9844-96690dfb8299
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