This book, published in 1986, addresses questions concerned with a central normative principle in contemporary assessments of economic policies and systems. What does 'consumer sovereignty' mean? Is consumer sovereignty an appropriate principle for the optimization and evaluation of the design and performance of economic policies, institutions and systems? If not, what is a more appropriate principle? The author argues that the conception of consumer sovereignty has to be broadened so that it is not limited to the market mechanism but includes environmental, work and social preferences. However, even this version runs into serious difficulties as the principle of consumer sovereignty still relies on too subjectivist a conception of the interests of individuals to be suitable for the evaluation of economic institutions. An alternative basis for such evaluation is 'human interests' that are not contingent on particular economic systems, After considering various possibilities, a basic-needs approach is proposed and its use in economic evaluation illustrated.

Introduction -- Abiding issues -- Argumentation of the courts and contemporary legal scholarship -- Making behavioralism work -- Fashioning consumer cognitive capability -- Open approaches to promoting innovation and economic growth -- From market access to cumulative innovation -- Conclusion

According to mainstream economics, it is the self-interest motive (the invisible hand) that leads firms in competitive markets to supply what consumers want (consumer sovereignty). When markets function ideally, the result is said to maximize the net benefits to society. The purpose of this paper is to explain why, contrary to mainstream economics, competitive markets, for important noneconomic reasons, often fail to serve the best interests of society. Akerlof and Shiller (A&S) in Phishing for Phools (2015) have given considerable thought to why markets too often fail. They fail when business people behaving in a purely self-serving way utilize manipulation, deception, and trickery to take advantage of their customers. This happens when buyers act foolishly for psychological reasons, for lack of information, and because they do not know what they want. Businesses learn about these unsophisticated buyers, prime them, and set a trap for them. The result is behavioral market failure: consumers wind up paying too much for products they do not need.The A&S perspective needs integration with dual motive theory (DMT). According to DMT, self-interest derives from humans' reptilian brain. Empathy derives from humans' mammalian brain. According to a recent, important interpretation, self-interest is primal, and a person's empathic capacity plays a restraining or conditioning role with respect to self-interest, especially when self-interest is excessive. Too often business people act out of excessive self-interest leading them to take unfair advantage of customers. The DMT perspective suggests this is not inevitable as humans can develop their empathic capacities and become less self-interested. If so, a business might develop a socially responsible orientation and overcome its negatively opportunistic orientation. Integrating the A&S and DMT perspectives improves greatly understanding of why markets often fail for behavioral reasons and what can be done about it.

The “interest contiguity theory,” which is the book’s centerpiece, holds that rather than a smooth, one-way cruise through history, humankind’s journey from the inception to the present has brought him/her face to face with broadly three types of interests. The first is the individual interest, which, strange as it may sound, tends to be internally contradictory. The second is society’s (or “national”) interest which, due to the clash of wills, is even more difficult than personal interest to harmonize. The third is the interest espoused to justify the establishment and maintenance of supranational institutions. Though conflicting, some interests are, due to their relative closeness (or contiguity), more easily reconcilable than others. In tracing the links between and among the three broad types of interests, the book begins with a brief philosophical discussion and then proceeds to examine the implications of human knowledge for individual liberty. Against the backdrop of the epistemological and ontological questions raised in the first chapter, the book examines the contending perspectives on the theory of the state, and in particular, the circumstances under which it is justified to place the interest of society over that of the individual. The focus of the fourth chapter is on the insertion of the supranational governance constant in the sovereignty equation, and on the conflict between idealist and realist, and between both and the Kantian explanations for the new order. The adequacy or otherwise of the conflicting explanations of the change from anarchy to a ‘new world order’ is the subject taken up in the succeeding chapters. Besides suggesting a new analytical tool for the study of politics and international relations, the contiguity theory offers statespersons new lenses with which to capture the seismic, perplexing and sometimes disconcerting changes unfolding before their eyes.

Utility-based theory and the fallback choice-theoretic framework are shown to be biased, irremediably flawed and misleading. A radically different theory of value and of consumer behaviour is proposed based on existential interpretations of scarcity, value and self-interest. For self-conscious mortals, only time is scarce. All other is derivative scarcity. Value is in the life, as a knowledge extract of time, which goes into commodities as direct human labour and depreciated capital, through their production. By structuring their preferences, consumers try to confiscate more of such value per unit of expended income, extending their social presence, soothing their angst and gaining power over each other. This raises output and makes gains cancel out. Negative psychological externalities preclude any well-being or social-welfare type conclusion. These resolve a number of long-standing issues: endogenously generated growth, the micro-macro connection, the price mechanism, crises, unemployment, etc. Equilibrium is of a low-potential kind, not of a force-balancing one, and it is unique, reachable and stable. The relevant analytics involve purely economic, non-psychological entities. Consumer behaviour is grounded on a well-defined, structure-based decision criterion and on observably measurable magnitudes, only. The social ramifications of the two juxtaposed perspectives are discussed at length.

We seem to be in the middle of a paradigm shift in consumer protection. For decades, regulators understood their mission as “preserving choice” through more effective informational remedies. In the past decade -- and more decisively during the Biden Administration -- a growing appreciation for the limits of consumer choice and market competition has led bureaucrats and scholars to shift toward interpreting consumers interests and thinking pragmatically about how to shape regulation to further those interests. The Article describes the change in historical context and provides a theoretical grounding for it, articulating a pluralist theory of consumer protection under the label “moral economy.” The central legal focus of the Article is the statutory authority that has grounded much of the recent regulatory activity: the prohibition on “unfair acts or practices” shared by many federal and state agencies with consumer protection jurisdiction. The descriptive and normative arguments of this Article explain why it is now at the center of the action -- and why that should be welcomed.

`This book was radically challenging when it was first published, and is only more so today as the concept of consumer collapses under the weight of its many meanings' - Madeleine Bunting, Columnist, The Guardian Western-style consumerism appears unstoppable. Yet it is has failed to deliver greater happiness and is now facing major environmental, population and political challenges. This book examines the key Western traditions of thinking about and being a consumer. Each chapter posits a consumer model with examples from the international community. Readers are invited to enter an exciting and radical analysis of contemporary consumerism which suggests that consumerism is fragile and consumers unpredictable. Updated with new material, this Second Edition looks at the impact of new technologies on consumerism and the consolidation of consumerism and 'consumer' language in spheres like education and health. The authors discuss the spread of consumerism to developing countries like India and the effect of demographic change and migration. The fallout from 9/11 and United States military hegemony is examined, as is the influence on consumerism of Islamic fundamentalism, the anti-globalization movement, environmental concerns and depleting natural resources. This book is of interest to advanced undergraduate, postgraduate and MBA students taking courses on behaviour, buyer behaviour, customer behaviour, consumers and society and retailing. Any one interested in better understanding consumerism will also find this book a fascinating read.

If God is in control, are people really free? This question has bothered Christians for centuries. And answers have covered a wide spectrum. Today Christians still disagree. Those who emphasize human freedom view it as a reflection of God's self-limited power. Others look at human freedom in the order of God's overall control. David and Randall Basinger have put this age-old question to four scholars trained in theology and philosophy. John Feinberg of Trinity Evangelical Divinity School and Norman Geisler of Dallas Theological Seminary focus on God's specific sovereignty. Bruce Reichenbach of Augsburg College and Clark Pinnock of McMaster Divinity College insist that God must limit his control to ensure our freedom. Each writer argues for his perspective and applies his theory to two practical case studies. Then the other writers respond to each of the major essays, exposing what they see as fallacies and hidden assumptions. A lively and provocative volume.