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asked ago in General Economics Questions by (120 points)
Microeconomics sees only wealth, self-interest, and the market, resulting in extreme inequality, low economic performance, and inefficiency. Metaeconomics means to "transcend, transform" and otherwise go beyond just the self-interest of Microeconomics.  Metaeconomics  builds on Adam Smith, who saw the need to balance the wealth&sentiments, ego&empathy-based ethics, self&other(shared, internalized)-interest, market&government.  Each was deemed essential to the other.  In order to maximize the own-interest, as Adam Smith made clear, it was essential to balance the joint, nonseparable, absolutely interdependent self&other-interest.   New book is now available:  Metaeconomics:  Tempering Excessive Greed.(Google It; Try It; You might like it!).
commented ago by (100 points)
I find this idea extremely interesting, and I would first like to thank you for arising my interest in it, as I spent about an hour scrolling through your website, learning about the field of metaeconomics. But as much as I enjoyed the learning process, I feel that while microeconomics is based on self-interest, a majority of human decisions could be argued to be in self interest. As such, I feel that microeconomics does a better job at encompassing metaeconomics, as opposed to being a supplement.  The classic example would be charity, where we selflessly donate money in an act of reasonability. But we don't simply like our money disappearing. Because we know it's going to a good cause, we get marginal benefit that we deem to be higher than anything else we could use our money for. Because we mostly use made up and unquantifiable numbers in analyzing marginal benefit, it's no stretch to say that such a concept is covered in microeconomics. Obviously, I feel like the explanation I provided is too simple, and you are the foremost expert on the topic in the world, and as such I am most likely wrong. As such, I would really appreciate further explanation as to what sets metaeconomics apart from microeconomics, beyond the broader mission statement. I find this topic super intriguing!

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