Humanomics: moral sentiments and the wealth of nations for the twenty-first century

While neo-classical analysis works well for studying impersonal exchange in markets, it fails to explain why people conduct themselves the way they do in their personal relationships with family, neighbours, and friends.

In 'Humanomics,' Nobel Prize-winning economist Vernon L.

Smith and his long-time co-author Bart J. Wilson bring their study of economics full circle by returning to the founder of modern economics, Adam Smith.

Sometime in the last 250 years, economists lost sight of the full range of human feeling, thinking, and knowing in everyday life.

Smith and Wilson show how Adam Smith's model of sociality can re-humanise 21st century economics by undergirding it with sentiments, fellow feeling, and a sense of propriety - the stuff of which human relationships are built.