Brennan and Pettit, The Hidden Economy of Esteem

Question 1

Overview

Answer 1

Authors argue that there is a hidden economy of esteem, drawing parallels between the pursuit of social approval and the traditional economy of material goods and services

Question 2

What are the criteria for something to function as an economic good and how do Brennan and Pettit argue esteem fits these criteria?

Answer 2

• For something to function as an economic good, it must be in limited supply and significant demand.
• The authors argue that esteem meets these conditions because individuals deeply value social approval and are willing to adjust their behavior to gain it.
• Additionally, esteem is limited in supply because it is inherently comparative – being respected or admired depends on outperforming others or exceeding community standards – esteem is often granted based on relative performance within a social context.

Question 3

Esteem is inherently ___

Answer 3

Comparative

Question 4

Why is esteem a hidden economy?

Answer 4

• Since people care about how others perceive them, they engage in strategic behavior to gain social approval, just as they would in a traditional market to gain material goods.
• However, the ‘economy of esteem’ operates subtly and often unconsciously.

Question 5

What do the authors argue are the two constraints on an economy of esteem?

Answer 5

• Constrained competition
• Constrained exchange

Question 6

Constrained competition

Answer 6

• Seeking esteem is counterproductive, much like trying to achieve spontaneity or pleasure by consciously pursuing them.
• Explicitly aiming for esteem tends to undermine its achievement, so people are less likely to offer genuine esteem when they perceive someone as actively trying to impress others.

Question 7

Constrained exchange

Answer 7

• Esteem cannot be exchanged or bartered like material goods.
• One cannot simply give or withhold esteem – it is something that must be given or received covertly to be valid.