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The Company of Strangers: A Natural History of Economic Life (Revised Edition) [Paperback]

Paul Seabright
5.0 out of 5 stars  See all reviews (7 customer reviews)
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Book Description

12 April 2010 0691146462 978-0691146461 Revised edition

The Company of Strangers shows us the remarkable strangeness, and fragility, of our everyday lives. This completely revised and updated edition includes a new chapter analyzing how the rise and fall of social trust explain the unsustainable boom in the global economy over the past decade and the financial crisis that succeeded it.

Drawing on insights from biology, anthropology, history, psychology, and literature, Paul Seabright explores how our evolved ability of abstract reasoning has allowed institutions like money, markets, cities, and the banking system to provide the foundations of social trust that we need in our everyday lives. Even the simple acts of buying food and clothing depend on an astonishing web of interaction that spans the globe. How did humans develop the ability to trust total strangers with providing our most basic needs?


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Product details

  • Paperback: 368 pages
  • Publisher: Princeton University Press; Revised edition edition (12 April 2010)
  • Language: English
  • ISBN-10: 0691146462
  • ISBN-13: 978-0691146461
  • Product Dimensions: 15.2 x 2.6 x 22.9 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (7 customer reviews)
  • Amazon Bestsellers Rank: 400,090 in Books (See Top 100 in Books)
  • See Complete Table of Contents

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Review

A brilliant book. (Martin Wolf Financial Times )

The Company of Strangers is a model of how different disciplines can enrich each other to explain human progress. (George Peden Times Literary Supplement )

[A] clear, thought-provoking, and elegant book. (Howard Davies Times Higher Education )

Why is everyday life so strange? Because, explains Mr. Seabright, it is so much at odds with what would have seemed, as recently as 10,000 years ago, our evolutionary destiny. (Economist )

An important and timely book. . . . It starts in the mists of prehistory but ends emphatically in the here and now. (Giles Whittell Times )

A welcome and important contribution. . . . The Company of Strangers exemplifies a new breed of economic analysis, seeking answers to fundamental questions wherever they are found and ignoring disciplinary boundaries. . . . [It] is highly readable and will be accessible to a wide audience. (bert Gintis," Nature )

There seems to be no place where Seabright is a stranger. He obviously feels as much at home among classical economists as among evolutionary biologists, quotes modern literature and ancient history with equal aplomb, jumps from experimental psychology to political philosophy and draws liberally on his personal memories of places from Ukraine to India. . . . [His] book is obviously not meant as an exercise in planned economy, but as an excursion, without blinkers and without apprehension, through a tumultuous crowd of ideas. (Karl Sigmund American Scientist )

An entertaining, wide-ranging account about how the economy evolved in a way that allowed strangers, even potentially hostile strangers, to cooperate and even collaborate within market-based institutions. Seabright tells the story of how human beings, despite their genetic predisposition toward violent and even murderous behavior, have managed to produce a complex civilization through market-based institutions. (Choice )

We now depend on the efforts of many strangers for our lives. In these days of terror and conflict, Seabright's stunning exploration of this human social experiment is timely. . . . This is a book every concerned citizen should read, along with anybody in business who ever has to tangle with government regulations or the law, and who wants to understand why those relationships are so complex. (Diane Coyle Strategy and Business )

In his absorbing book, Seabright . . . marvels at how easily we 'entrust our lives to the pilot of an aircraft, accept food from a stranger in a restaurant, enter a subway train packed full of our genetic rivals.' It's not often that an economist provides nuggets for cocktail party conversation. (Peter Young Bloomberg News )

Few economists are so sweeping in their ideas as Seabright, and few so anxious to make us look freshly at the world. . . . In The Company of Strangers, Seabright has produced one of those books that lie low, speak quietly, but work a change on the reader. (Robert Fulford National Post )

Paul Seabright contends that the Neolithic revolution, which saw the beginning of farming, changed not only the environment but also human nature. Settling down to tend fields promoted societies based on trust. Today, he says, all our economic institutions rely on trust. . . . [I]t is a provocative read. (Maggie McDonald New Scientist )

Human civilisation is the result of a magnificent collaborative effort, the unwitting by-product of countless individuals working together. . . . Drawing on history, biology, literature, anthropology and economics, his argument is subtle and compelling. (Guardian )

So what does it take to become truly global? In a nutshell, it means learning how to live in The Company of Strangers. In [this] illuminating book . . . Paul Seabright, himself an economist, brings together insights from history, biology and sociology to explain the concept of modern civilization. (Korea Herald )

Review

No one, economist or civilian, could turn the pages of this book without spotting, time and again, some unexpected and arresting idea that really wants to be thought about. Paul Seabright takes the evolutionary point of view seriously and asks how human institutions make social life possible at all, especially when the many people on whom we depend for our subsistence are strangers. From biology to banking, it is a lively landscape.
(Robert M. Solow, Institute Professor Emeritus, Department of Economics, Massachusetts Institute of Technology, and Nobel Laureate in Economic Sciences ) --This text refers to an out of print or unavailable edition of this title.

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Most Helpful Customer Reviews
11 of 11 people found the following review helpful
5.0 out of 5 stars Packed with Knowledge! 30 Mar 2005
By Rolf Dobelli TOP 500 REVIEWER
Format:Hardcover
Credit author Paul Seabright's achievement on several scores. First, he is an economist who thinks outside the supply-and-demand box, and whose thoughts actually are comprehensible to the average reader. Second, his ideas are original, blending evolution, economics and sociology. In his view, the daily trusting interaction of complete strangers is a marvel that is unprecedented in the animal kingdom. Moreover, this high degree of non-familial social cooperation has only arisen in the past 10,000 years or so, despite the six to seven-million-year existence of 'Homo sapiens'. Although the average businessperson probably has no direct application for Seabright's book, it's interesting, worthwhile reading anyway. In a world where the need for global cooperation is greater, and its existence more fragile, we recommend this book for its unique, valuable perspective.
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17 of 18 people found the following review helpful
5.0 out of 5 stars The Future of Reciprocity 26 May 2004
Format:Hardcover
Very briefly, the book is extremely illuminating on the strangeness of economic communities, on what in our nature makes these possible, and therefore very suggestive on the implications for future communities and future roots of conflict. It is also very well written and purposely avoids economic jargon - a light touch on a deep subject.
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17 of 19 people found the following review helpful
5.0 out of 5 stars Is everything for sale? 28 Jun 2004
Format:Hardcover
This book ranges from the role of delegated decision-making to the auction of dancing girls at Sotheby's. In between it explains how we can exist in a world full of strangers without being mugged, robbed and cheated every time we enter into a transaction.

Economic theory can be dry and the examples used be economists often leave the rest of us cold, but Paul Seabright brings to life some of the arid territory of abstract reasoning and shows that once it is well watered with insight from other disciplines, it can be a fascinating area of study. The writing is lively and well sprinkled with vivid examples that make you grin, rather than grimace.

But this is more than just a treatise - the final section of the book shows how fragile this 'great experiment' could be. Seabright deals with the threats to our life among strangers in a way that could almost make you begin to appreciate the way your credit card company chases you for a payment every month!

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