In particular, the overly abstract human image implicit in mainstream economics is critically analyzed and instead it attempts a rethinking of economic principles, policies and institutions based on a richer and more balanced view of human nature.
Humanistic economics can be described as a perspective that imbues elements of humanistic psychology, moral philosophy, political science, sociology and common sense into traditional economic thought.
One approach is broadly based on Abraham Maslow’s humanistic psychology.
[1] According to Mark A. Lutz, five characteristic elements of humanistic economics can be summarized as follows:[2] As part of a series of efforts by Prof. Jaime Lagunez, World Medicine was created - a company to be owned by all citizens of the world.
Lagunez has offered to include results of his research on cancer and vs HIV to be sold by the company.