FAQ - Frequently Asked Questions About Metaeconomics
What is Metaeconomics?
Metaeconomics is an empathy-based, science- and humanities-grounded alternative to mainstream Microeconomics. Instead of assuming only ego-based self-interest as in Single Interest Theory (SIT) in Microeconomics, Metaeconomics uses Dual Interest Theory (DIT), which explicitly includes empathy-based shared other-interest as an internal part of human behavior.
What is Dual Interest Theory (DIT)?
Dual Interest Theory (DIT) holds that human behavior arises from two interacting motivations: ego-based self-interest (relating to Incentive) and empathy-based shared other-interest (holding the Ethic). Economic stability depends on balancing ego and empathy, self and other(shared)-interest, incentive and ethic—rather than privileging one over the other.
How does Dual Interest Theory (DIT) in Metaeconomics relate to Adam Smith?
Adam Smith emphasized that moral sentiments—the Ethic—must temper self-interest. Metaeconomics formalizes Smith’s insight using modern behavioral science, treating Smith’s two major works as one integrated argument: Wealth and Sentiment, Self and Other(shared)-interest, Incentive and Ethic. The Ethic is essential for tempering the Incentive, and therefore for economic efficiency and market viability.
Writing convention?
In Metaeconomics, the symbol “&” is used deliberately to emphasize that paired terms are joint, interdependent, and nonseparable, not merely additive. Expressions such as ego & empathy, self & other(shared)-interest, wealth & sentiment, and incentive & ethic denote co-arising drivers of human behavior and economic outcomes, consistent with Dual Interest Theory (DIT). Where “and” appears, it carries this same strong meaning; the use of “&” simply makes the jointness more explicit.
Abstract representing the 2020 book Metaeconomics: Tempering Excessive Greed, which draws on the materials in this Metaeconomics.info Website
Metaeconomics presents a new economic framework built on Dual Interest Theory, which integrates ego-based self-interest with empathy-based shared other-interest. Rather than emphasizing only markets or only government, Metaeconomics shows that stable, fair, and sustainable societies emerge when these forces are balanced. Dual Interest Theory proposes that both self-interest and empathy are internal to every person, extending the original insight of Adam Smith that individuals pursue their own interest—while clarifying that true well-being requires balancing these joint motivations. Metaeconomics connects behavioral science, moral philosophy, and economics to explain why excessive focus on self-interest alone leads to inequality, instability, and social breakdown. The framework is applied to real-world issues such as elections, finance, family, health, education, natural resources, and extreme inequality. Metaeconomics ultimately argues that preserving capitalism requires bringing empathy back into both private and public decision-making, creating a more humane balance between market and government
Read more about the Metaeconomics Book at:
https://www.metaeconomics.info/post/just-in-time-for-xmas-presents
What is Metaeconomics?
Metaeconomics is a science and humanities grounded alternative to mainstream Microeconomics which models humans as having only self-interest. So, Microeconomics uses a Single Interest Theory (SIT), as in only ego-based self-interest driving the person, modeled as an Econ. Metaeconomics --- instead of seeing only the Econ --- models the Human as dual-motivated: Driven by both ego-based self-interest and empathy-based shared other-interest, as represented in Dual Interest Theory (DIT). Metaeconomics sees the Human working to strike good balance in the self-interest and other (shared with the other)-interest, striking balance in the Incentive and the Ethic needed to temper it.
Read the full Metaeconomics Overview:
https://www.metaeconomics.info/metaeconomics-an-overview
Read Metaeconomics in a Nutshell:
https://www.metaeconomics.info/metaeconomics-in-a-nutshell
Read the Formal Definition of Metaeconomics:
https://www.metaeconomics.info/definition-of-metaeconomics
Read about the book Metaeconomics: Tempering Excessive Greed at:
https://www.metaeconomics.info/post/just-in-time-for-xmas-presents
Is there more than one form of Metaeconomics?
The term "Metaeconomics" is used for different frames of reference, generally a more all encompassing economics, keying on the notion of "meta." Said frames do not have a specific theory of human behavior. The Metaeconomics represented here has a very specific analytical system represented in Dual Interest Theory (DIT).
Read more about the various forms of Metaeconomics at:
https://www.metaeconomics.info/other-metaeconomic-frames-no-theori
What is Dual Interest Theory (DIT) in Metaeconomics?
Dual Interest Theory (DIT) represents the two tendencies in Human nature, one driven by the ego-based self-interest and one driven by the capacity for empathy-with the other, as in the other (shared)-interest. DIT also recognizes the key role of self-control in tamping down, tempering the more primal self-interest (the incentive) with the shared other-interest (the ethic).
Read more about how Dual Interest Theory goes beyond mere Invidualism (Self-interest only) at:
https://www.metaeconomics.info/individualism
Read more about how Dual Interest Theory reflects the Ich and Du --- I and Thou, I and We --- of Martin Buber at:
https://www.metaeconomics.info/what-is-the-i-thou-relationship
Read more about the technical details of Dual Interest Theory (DIT) in Metaeconomics:
https://www.metaeconomics.info/what-is-dual-interest-theory
Read about how to get started using Dual Interest Theory (DIT) in Metaeconomics:
https://www.metaeconomics.info/post/teach-me-some-basic-economics-so-i-can-make-sense-of-the-blog
Does Metaeconomics favor a particular political ideology and/or religious theology?
In contrast to mainstream Microeconomics, which is a political ideology and theology favoring self-interest only, no, absolutely not. Metaeconomics using Dual Interest Theory is empirical, so it is neutral to both ideology and theology. It uses serious and systematic inquiry in science and humanities to help form and rigorously test null hypotheses about the content of the shared other-interest wherein ideology and theology reside. It uses the scientific method to explore alternative ideologies and theologies, and favors none.
Read more about how Metaeconomics can be used to examine the political spectrum on the continuum from pure communism to pure capitalism at:
https://www.metaeconomics.info/conservative-progressive-sensibilit
What is Empathy Conservation?
Dual Interest Theory (DIT) grew out of a rigorous 3-4 decade long effort to find out what motivated farmers in the United States to conserve soil and water. The testing led to proposing the notion of Empathy Conservation, as empathy-with the other downstream of the farm was a major influence. It also led to proposing Empathy Recycling, as the same finding was found for consumer recycling. More recent testing shows that empathy-with based other-interest is a key variable in virtually every economic choice.
Read more on the Empirical Testing of Dual Interest Theory (DIT), on the way to pointing to Empathy Conservation --- and all other Manner of Enhanced Explanatory Power in a Variety of Puzzles and Paradoxes that cannot be explained using Single Interest Theory (SIT):
https://www.metaeconomics.info/empirical-support-for-metaeconomics
How Well is Dual Interest Theory Withstanding the Critiques?
The main critique has been that it looks too much like standard Single Interest Theory (SIT) in Microeconomics, using similar analytical machinery. That point always goes to claiming the shared other-interest is just another kind of self-interest, so, one standard SIT based utility or production function is all that is necessary. Not. Shared other-interest is a distinct part of the Human, joint but not the same as the self-interest.
Read more about the Questions and Critiques of Dual Interest Theory in Metaeconomics at:
https://www.metaeconomics.info/questions-and-critiques
How Does Metaeconomics Relate to Humanomics?
The notion of Humanomics is that "an economics with the Human and their ethics left in" is needed, as stated by Deirdre McCloskey. Metaeconomics is such an economics with the Human in view, represented in a Dual Interest Theory at the core.
Read more about the relation between Metaeconomics and Humanomics at:
https://www.metaeconomics.info/profane-sacred-and-the-law
How Does Neoinstitutionalism Relate to Metaeconomics?
The Neoinstitutionalism in Metaeconomics traces back to the old, mainline Institutional Economics as in Thorstein Veblen and John R Commons. It does not point to the Neoinstutionalism of some modern contributors like Douglas North, which is an Institutional Economics in mainstream Microeconomics disguise. Why? Well, because it sees only self-interest driving the formation of institutions. Metaeconomics is consistent with mainline Institutional Economics which sees the key role of the shared other-interest, the Ethic. As a true Neoinstitutional Economist represented in Daniel Bromley says it, "The Ethic is key."
The key role of the Ethic is left out of the Neoinsitutionalism of Douglas North et al.
Read more about what Neoinstitutionalism means in Metaeconomics at:
https://www.metaeconomics.info/neoinstitutionalism-is-not-metaeconomics
What Sciences Underly Dual Interest Theory in Metaeconomics?
Metaeconomics integrates empirical findings coming from mainstream microeconomics, institutional economics, economic psychology, social psychology, evolutionary biology, behavioral and neuroeconomics, neuroscience, and moral philosophy to explain why ethical balance is essential for stable, efficient, and humane economic systems.
Read more about the Integration of the Sciences and Humanities in Metaeconomics:
https://www.metaeconomics.info/evolutionary-biology
Read about the empirical, scientific evidence from both the sciences and humanities supporting Dual Interest Theory:
https://www.metaeconomics.info/scientific-evidence-for-metaeconomi
Read how Metaeconomics does not relate to Newtonian Mechanics (like Microeconomics) but is based in Thermodynamics:
https://www.metaeconomics.info/thermodynamic-reality
Is Metaeconomics Just Another Form of Behavioral Economics?
Metaeconomics draws heavily on the empirical research framed by Behavioral Economics. It goes beyond Behavioral Economics in the sense that it draws on many other fields, especially the modern version of Institutional Economics represented in Neoinstitutional Economics.
Read more about the relationship between Metaeconomics and Behavioral Economics at:
https://www.metaeconomics.info/what-is-underlying-behavioral-theor
https://www.metaeconomics.info/part-of-behavioral-economics
What is the Relationship Between Dual Motive Theory and Dual Interest Theory?
Collaborators Gerald A. Cory, Jr. and Gary D. Lynne jointly suggested the dual nature of human nature would be represented in what both referred to as Dual Motive Theory. Due to deciding the content needed to be somewhat different in order to better align with the notion of "interest" as in the self-interest focus in economics, Lynne decided to add the Dual Interest Theory designation. The Theories overlap, but have a somewhat different emphasis.
Read more about the relationship between Dual Motive Theory and Dual Interest Theory at:
https://www.metaeconomics.info/dual-motives-or-dual-interests
What is the Role of the Invisible Hand?
Rather than treating ethics (and the moral frame of each person working to form that ethic) as somehow coming through some "invisible hand" to moderate the market, Metaeconomics shows that empathy-based concern with and for others on the way to an ethic is coming from a variety of sources, not just the market. Religion is one source. The talk, talk, talk among people in all manner of human interaction --- not just religious talk --- is the source of the Community-wide, ultimately Nation-wide shared interest, as in We the People. The invisible hand construct is inadequate to the task of either understanding or evolving the moral and ethical content of that shared other-interest.
Read more about how Metaeconomics Represents the Invisible and Not So Invisible Hand:
https://www.metaeconomics.info/invisible-or-visible-hand
How Does Metaeconomics Relate to the Adam Smith Claim About Moral Sentiment Tempering the Pursuit of Wealth?
Duals Interest Theory formalizes ideas anticipated by Adam Smith, who emphasized the role of moral sentiments in tempering self-interest. Said moral sentiments --- the ethic --- give content to the shared other-interest. The self-interest responds to incentive. The other (shared) interest tempers it. As Adam Smith proposed, and empirical testing guided by DIT confirms, the ethic held in the other-interest must temper the incentive priming the self-interest. Economic efficiency in a truly wealthy nation needs a balance, as in self and other-interest, incentive and ethic. Adam Smith was the first Metaeconomist --- so, in tha sense, Metaeconomics is old but refreshing news, bringing the true Adam Smith back into view === seeing the need to consider both the Moral Order and the Moral Community, the latter holding the Ethic.
Read more about how Adam Smith saw the ego-incentive needing to be tempered by the empathy-sentiment at:
https://www.metaeconomics.info/empathy-economy
https://www.metaeconomics.info/moral-order-or-moral-community
https://www.metaeconomics.info/speculation
https://www.metaeconomics.info/empathy-economy
Who Developed Dual Interest Theory in Metaeconomics?
It was first proposed by Gary D. Lynne, Professor Emeritus, and has evolved over the past 3-decades with the help of many graduate students and other colleagues. The empirical credibility of DIT was especially helped with the Behavioral and Experimental Laboratory testing designed by Professors Natalia Czap and Hans Czap. Also, it is important to realize DIT is not new news, as Adam Smith laid the groundwork 250+ years ago. The contribution by Lynne et al. is represented in the integration across the 200+ years of serious and systematic inquiry in the sciences and humanities as represented in Metaeconomics, and the fact that the integration and empirical testing of it confirms the Adam Smith claims.
Read more about Gary D Lynne including the list of Published Articles, Book Chapters, and Books at:
https://www.metaeconomics.info/about
What Inspired Dual Interest Theory?
Metaeconomics addresses the empirical failures of single-interest models and provides a foundation for what Lynne calls “Good Capitalism” which is only possible if attention is paid to the shared interest, the ethic. An economy that aligns incentives with ethics, supports cooperation and trust, and promotes long-run social and economic well-being can be sustained. Focusing strictly on incentive --- the focus of Single Interest Theory (SIT) in Microeconomics --- assures economic inefficiency and a less wealthy Nation because it leaves out explicit consideration of the ethical (and moral) dimension. DIT brings the ethic back into the formal analytical structure of economics.
Read more about what inspired Dual Interest Theory in Metaeconomics at:
https://www.metaeconomics.info/inspiration