Market society as a place of value creation : A consideration of the compatibility between public and private interest by linking economic thought and information studies

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  • ANDO,Motohiro
    Graduate School of Interdisciplinary Information Studies, The University of Tokyo

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  • 価値創造の場としての市場社会 : 経済思想と情報学の接合による,私益と公益の両立の論理についての考察

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Abstract

The question of how private interest contributes to public interest in market society has been an important theme in the history of economic thought. However, even today, it is hard to say that we have enough answers to this question. One cause of this situation must be that economics after Neoclassicism has omitted the perspective of an individual sense of values, because of higher priority to the pursuit of the stringency as science. In this paper, I tackle this question firstly by analyzing how an individual makes a decision when he/she pursuits his/her own interest. In this part, I mainly examine the thoughts of C.Menger and F.A.Hayek. Secondly, I see the market society as an information system, and link Nishigaki's model of "Hierarchical Autonomous Communication System" and the theory of the market economy examined previously. This leads to my conclusion that the exchange in a market creates new value and an individual's pursuit of interest contributes to the maximization of social interest as a whole. This conclusion also suggests how the market society is highly influenced by the ongoing information technology today.

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