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The Invisible Heart by Nancy Folbre β€” book cover

The Invisible Heart

by Nancy Folbre
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Overview

In this brilliant new book, MacArthur Award-winning economist Nancy Folbre reveals startling truths about our society and how much importance we actually place on family values.

Most economists share Adam Smith's confidence that the "invisible hand" of the market transforms selfish behavior into benefits for all. But Folbre challenges this confidence. In a pioneering reevaluation of the competitive market, she explains why the invisible hand, if it reaches too far, can undermine the "invisible heart" -- the values of love, reciprocity, and obligation on which our families and communities depend.

The Invisible Heart addresses an often-neglected yet basic problem in our society: blancing economic pursuits with care for others, particularly children, the elderly, and the infirm. Historically, most societies guaranteed care by maintaining strict limits on women's freedom. But as these limits give way and society is increasingly dominated by the market, we need to develop more democratic and egalitarian rules for sharing care responsibilities.

Economically, it should be worthwhile to take responsibility not only for ourselves but for those who depend on us -- including the children whom we expect to, in the future, keep our society going.

Written in a lively, personal style flavored by Molly lvins as well as John Kenneth Galbraith, The Invisible Heart reinterprets policy issues such as welfare reform, school finance, and progressive taxation, and confronts the challenges of globalization, outlining strategies for developing an economic system that rewards both individual achievment and care for others.

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Editorials

American Prospect

[W]ritten with clarity and simplicity of style...a pleasure to read.

Chronicle of Higher Education

A rallying cry for change.

Emma Rothschild

Important and illuminating....an outstandingly provocative book about the economics of care and reciprocity.

Publishers Weekly - Publisher's Weekly

As the "invisible hand" of the free market and the competitive individualism it engenders increasingly dominate public life, contends UMass-Amherst economist and MacArthur fellow Folbre (Who Pays for the Kids?), we risk losing the other necessary component of a healthy society: "the invisible heart," a care system for children, the aged and the infirm. The market does not provide such support, and in the prescribed labor divisions of old, women fulfilled this need for little or no recompense. But now that women have begun to shuck off this enforced role, where, asks Folbre, will care come from? In seeking an answer, she delivers an incisive, informed social critique. Government, she contends, provides a bureaucratic hodgepodge of programs that serves few well and punishes the poor. Regressive taxation assures that some will be able to afford more care than others; unequal school funding guarantees some will become better educated than others. Corporations neglect social responsibilities in favor of the bottom line. In the end, Folbre concludes, we are all responsible for one another, but only radical changes in how we live and work democratic control of the economy, a dramatic redistribution of wealth and so on will strengthen the ethic of solidarity and reciprocity that is a prerequisite for such care. Folbre makes an important contribution to the discussion of what our society could be, and her humor and insight elevate her book above mere political diatribe. (Apr. 1) Forecast: Folbre's progressive/feminist response to "compassionate conservatism" should spark lively debate and sales. This is perfect for the sociology or cultural crit classroom and will also appeal to fans of fellow MacArthur recipient Mike Davis (Prisoners of the American Dream). Copyright 2001 Cahners Business Information.

Library Journal

MacArthur Award winner Folbre (economics, Univ. of Massachusetts) specializes in the interaction of feminist theory and political economy. In this readable, well-documented, and thought-provoking work, she discusses the invisible heart of caring labor, which is not easily put in terms of dollars. She explains how this concept relates to Adam Smith's notion of the invisible hand with regard to supply and demand and the pursuit of self-interests. For centuries, women provided care for free in the home. Now, with more of them working outside the home, what used to be a priority for them is in the hands of institutions that do not obtain the funding priorities other endeavors have in the global economy. The ability to provide personal and loving care is being eroded. Folbre discusses how government, society, and employers can look at economic theory and practice to prioritize what individuals and institutions can do for the care of children, the sick, and the elderly. A good choice for academic and large public libraries.--Steven J. Mayover, formerly with the Free Lib. of Philadelphia Copyright 2001 Cahners Business Information.

Booknews

Arguing that caring labor (paid and unpaid) has been unfairly ignored by most economists, Folbre (economics, U. of Massachusetts) attempts to link economics with the values of caring, sharing, and reciprocity, which she terms "family values." She argues that, historically, most societies guaranteed caring labor by maintaining strict limits on women's freedom. She contends that as these limits give way and society is increasingly dominated by the market, we need to develop more democratic and egalitarian rules for sharing care responsibilities. She looks at economic theory, current policy, and strategies for the future and concludes that some kind of market socialism is preferable to runaway capitalism. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Book Details

Published
April 1, 2001
Publisher
New York : New Press, 2001.
Pages
288
Format
Hardcover
ISBN
9781565846555

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