The wealth of humans: core, periphery and frontiers of humanomics

Abstract

ABSTRACT Among the various attempts to re-humanize economics, the ‘humanomics’ proposed by Vernon Smith and Bart Wilson stands out. We contribute to the “humanomics project” by mapping its territory – core, periphery and frontiers – with an eye, also, on future explorations. First, we critically study the core: Smith and Wilson’s interpretation and experimental application of Adam Smith’s ideas on beneficence and injustice. Using the distinction between reciprocal cooperation and reciprocal kindness, we provide a different interpretation of Smith which helps to better understand the difference between exchange and trust, based on mutual advantage, and (reciprocal) beneficence proper. Secondly, we turn to the periphery, going beyond the ‘dichotomous representation of the human personality’ – personal-social/impersonal-economic – and showing other possible worlds: nuances of humans equally worthy of study, such as the personal-economic and the impersonal-social. Thirdly, we argue that the humanomics project should keep its frontiers as open as possible to human diversities and frailties.