In the research presented in this interview, the idea of adaptive preferences is applied to the co-evolution of democracy and market economy. CARL CHRISTIAN VON WEIZSÄCKER explains that the ideal of democracy and market economy though somehow antithetic are inter-dependent in a normative sense: While democracy provides freedom and stability, progress is only ensured by a market economy that allows for innovation.
Initially founded as a Max Planck institute that investigates the provision of collective goods, the institute has developed into an international hub that focuses in its research mainly on applied economics and on behavioral law. Moreover, the institute hosts three independent research groups on “moral courage”, “economic cognition”, and “mechanisms of normative change”. The set of researchers from various disciplines, such as economics, law, psychology, and sociology, constitutes a truly interdisciplinary environment that facilitates a cross-fertilization of ideas.
Die normative Ko-Evolution von Marktwirtschaft und Demokratie
ORDO, Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft
Published in 2014
The Architecture of Complexity
Proceedings of the American Philosophical Society
Published in 1962
De Gustibus Non Est Disputandum
American Economic Review
Published in 1977