Reorienting trends in the study of man and economy
International outreach of the journal
Theoretical and empirical studies
Special attention to methodology
Broad economical topics covered by the best researchers
Objective When modern economics was born in the 18th century, Adam Smith made it a historical study of man and the rising commercial society. For Smith, economics is first and foremost concerned with wealth-creation, where the division of labor is the key organizing principle. In the next century, David Ricardo shifted the focus of economics from production to distribution. Over the course of the 20th century, economics has gradually metamorphosed into the logic of choice and taken mathematics as its language. These two transformations have together made economics a towering discipline in the social sciences. But this achievement comes with a heavy price. Economics has largely become a theory-driven subject, severed from the ordinary business of life. Rather than seeing this disconnection as a fatal flaw undermining the vitality of the discipline, many economists take pride in that economics is no longer confined to any subject matter, but stands as a versatile, subject-free analytical approach.
The Coase Society aims to reorient economics as a study of man and the economy. The human economy is a man-made, evolving complex system of cooperation and competition. The defining character of the market economy is its continuous innovation, churning out novel products from the constantly adapting structure of production. This dynamics is kept alive by entrepreneurship and the growth of knowledge. To understand how this open system works requires both empirical and theoretical efforts. But theory-building, unless informed and disciplined by facts on the ground, can easily degenerate into "blackboard economics". Empirical work is most valuable only when it changes the way we look at the problem. The paucity of systematic interaction and mutual learning between empiricists and theorists and the lack of competition in research methodology in modern economics have severely sterilized the discipline.
Man and the Economy is not to replace the prevailing paradigm in economics with what the Society believes as a different and superior one. Such a paradigm simply does not exist yet. But economics as currently practiced ought to change. Working with students of economies across disciplines and all over the world, and bringing diversity and competition into the marketplace for economics ideas, Man and the Economy can help to make it happen. We welcome empirical (historical, qualitative, statistical, experimental) investigations and theoretical explorations that deepen our understanding of how the economy works and how it changes over time. Man and the Economy is keen to publish articles that examine how the market economy spreads throughout the globe and adapts to local conditions as well as studies that cross disciplinary boundaries and/or integrate diverse methods to shed light on the working of the economy.
Click Here to read the newly-published interview with Dr. Ronald Coase!
Economy and its changes over time
Local and global contexts
Article formats Original Articles (regular research papers), Research Notes (interesting ideas and findings not fully developed), Voices from the Field (contributions from practitioners in the business and policy community that are of interest to scholars), Marketplace for Ideas (interviews with leading scholars and other game-changers in the field), Wisdom of the Past (insights on man and the economy that have been forgotten), and Letters from Readers. We expect to open more columns in the future and welcome suggestions from readers and contributors alike.
Once your article is accepted you have the option to publish it open access
Our repository policy allows you to distribute 30 PDF copies of your published article to colleagues (the PDF has to include the information that it is an author's copy). Please also feel free to distribute the link to the online abstract
Founding Editor Ronald H. Coase, University of Chicago, USA
Editor-in Chief Ning Wang, Ronald Coase Institute and Zhejiang University, USA
Associate Editors Meir Kohn, Dartmouth College, USA Sam Peltzman, University of Chicago, USA Guang-Zhen Sun, University of Macau, China
Editorial Board Richard Epstein (law), New York University, USA Robert Frank (economics), Cornell University, USA Tom Ginsburg (law and political science), University of Chicago Law School, USA Michael Hechter (sociology and political science), Arizona State University, USA Philip Keefer (economics), World Bank, USA Janet Landa (economics), York University, Canada Stephen Littlechild (economics), Cambridge University, UK Deirdre McCloskey (economics and history), University of Illinois at Chicago, USA Douglass North (economics), University of Washington at St. Louis, USA Richard Sandor, Environmental Financial Products LLC, USA Mary Shirley (economics), Ronald Coase Institute, USA Richard Shweder (anthropology), University of Chicago, USA Chenggang Xu (economics), University of Hong Kong, China
Man and the Economy aims to be a general scholarly journal for students of the economy, while accessible and relevant to the concerned public, policy-makers, as well as the business and legal professionals who look up to economics as a study of man as he is and the economy as it exists in the real world.