Quotes & Sayings About Social Exchange Theory

In view of the importance of philanthropy in our society, it is surprising that so little attention has been given to it by economic or social theorists. In economic theory, especially, the subject is almost completely ignored. This is not, I think, because economists regard mankind as basically selfish or even because economic man is supposed to act only in his self-interest; it is rather because economics has essentially grown up around the phenomenon of exchange and its theoretical structure rests heavily on this process. — Kenneth E. Boulding

I believe that my theory is correct; for whatever be the question upon which I am arguing, whether it be religious, philosophical, political, or economical; whether it affects well-being, morality, equality, right, justice, progress, responsibility, property, labor, exchange, capital, wages, taxes, population, credit, or Government; at whatever point of the scientific horizon I start from, I invariably come to the same thing - the solution of the social problem is in liberty. — Frederic Bastiat

We now have a theory of effective collective action with decentralized authority. The theory is based on a conception of human nature as at once social, interdependent, justice-seeking, self-interested, and strategic. That conception is consistent with contemporary social science and with ancient Greek thought. The theory explains (through a mix of ideology, federalism, "altruistic" punishment, and existential threats) individual motivation to cooperate in the absence of a unitary sovereign as third-party enforcer. It provides (through information exchange) a mechanism that enables many individuals to accomplish common goals and to produce public goods without requiring orders from a master. — Josiah Ober

The older theories, which started from an erroneous conception of the social demand for money, could never arrive at a solution of this problem. Their sole contribution is limited to paraphrases of the proposition that an increase in the stock of money at the disposal of the community while the demand for it rClnains the same decreases the objective exchange-value of money, and that an increase of the demand with a constant available stock has the contrary effect, and so on. By a flash of genius, the formulators of the Quantity Theory had already recognized this. We cannot by any means call it an advance when the formula giving the amount of the demand for money (Volume of Transactions + Velocity of Circulation) was reduced to its elements. — Ludwig Von Mises