Hands, hearts and hybrids: economic organization, individual motivation and public benefit

Le Grand, Julian ORCID: 0000-0002-7864-0118 and Roberts, Jonathan ORCID: 0000-0003-4827-867X (2021) Hands, hearts and hybrids: economic organization, individual motivation and public benefit. LSE Public Policy Review, 1 (3). ISSN 2633-4046

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Abstract

Should policy makers rely upon firms motivated by profit and guided by the invisible hand of the market to promote public benefit or upon government agencies or nonprofits motivated by the compassionate heart? In this article we examine how the motivational assumptions implicit in these forms of economic organisation impact on their ability to promote the public good in key areas of the economy. We argue that in many circumstances it would be better to for policy makers to work with hybrid organisations: organisations that aim for both social and economic returns and whose stakeholders display the true complexity of individual motivation.

Item Type:	Article
Additional Information:	© 2022 The Author(s).
Divisions:	Social Policy Marshall Ins for Philanthropy & Soc Entr
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences
JEL classification:	M - Business Administration and Business Economics; Marketing; Accounting > M0 - General > M00 - General
Date Deposited:	14 Nov 2022 15:33
Last Modified:	12 Dec 2024 03:24
URI:	http://eprints.lse.ac.uk/id/eprint/117335

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