 Economics
of Sin
If money be the root
of all evil economics expert Dr Sam Cameron is playing with fire in his
new book 'The Economics of Sin'.
Sam, of the Bradford
Centre for International Development, examines the definition and evolution
of sin from the perspective of rational choice economics.
He argues that because
engaging in activities deemed to be sinful is an act of choice, it can
therefore be subject to the logic of choice in the economic model.
Sam said: "The book
should be of interest to anyone with a basic knowledge of economics as
it shows how economic models can be applied to a wide range of important
subjects. Even for those without any knowledge of economics, the book
should still be of considerable interest as the discussion is situated
in the context of both the history and literature of sin and the perspective
of many other subjects."
Sam has been interested
in the application of the rational choice model of economics to social
behaviour for over 20 years. His work has involved looking at marriage,
divorce, adultery, music consumption and production, prostitution, artificial
insemination, strikes, adoption of children, earnings, health, religious
attendance, sport and crime.
The book considers
the formation of religions, including the new-age revival of 'wicca',
as regulators of the quasi-market in sins, and goes on to appraise the
role of specific sins such as lying, envy, jealousy, greed, lust, sloth
and waste in individual markets and global economic growth.
Empirical evidence
on issues such as cannibalism, capital punishment, addiction, adultery
and prostitution is also explored. Sam concludes that a large percentage
of economic activity is intimately connected with forms of sin which are
in some circumstances highly beneficial to the functioning of markets,
particularly in the presence of market failure.
- 'The Economics
of Sin' published by Edward Elgar, 2002, can be purchased from Amazon
on
www.amazon.co.uk, priced £55.
11 February
2002
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