Patrick Spread

Old Member (1963)

‘After Trinity I worked as a business economist in London for a few years, then went to the Solomon Islands as government economist. I continued to work mostly overseas, including stints as Director of Economic Planning in Fiji and advisor to the Minister of Economy in Georgia. Other overseas assignments included work in Indonesia, Ethiopia, Kiribati, Papua New Guinea and Sierra Leone.

‘I realised early on that the standard fare of economic theory taught around the world was seriously misleading for anyone advising on economic policies that might actually be applied. I took time out at the London Business School, starting in 1980, to research an idea of support-bargaining and money-bargaining as a better explanation not just of how economies function but how societies as a whole function.

‘My first book, A Theory of Support and Money Bargaining (1984) was an outcome of this research. I returned to the theory some time later, publishing Getting It Right in 2004. Support-Bargaining: The Mechanics of Democracy Revealed (2008) is a more comprehensive statement of the theory. The three books published with Routledge are concerned sequentially (2013, 2016, 2019) with the connection of support-bargaining to Darwin’s theory of natural selection, the evolutionary nature of economics (as opposed to the equilibrium concept of neoclassical theory) and the central role of information. The Starter (2019) is an easy overview of the whole theory. Aspects of Support-Bargaining and Money-Bargaining comprises a selection of journal articles in an e-book from the World Economics Association (free to members). The aim is to convince the world that the theory of support-bargaining and money-bargaining gives a far superior explanation of human social, political, economic, and intellectual behaviour than any other theory. It provides a better foundation for the formulation of economic policy. PPE needs a new curriculum!’

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Featured Publications

A Starter on Support-Bargaining and Money-Bargaining in Twenty-Eight Digestible Bites

A Starter on Support-Bargaining and Money-Bargaining in Twenty-Eight Digestible Bites

Publisher: Palgrave Macmillan

Publication date: February 2019

This is a restatement of the theory in abbreviated and easily accessible form. It is intended, as the title suggests, to lead into the other material on support-bargaining and money-bargaining. http://www.palgrave.com/gb/book/9783030052300

Economics for an Information Age: Money-Bargaining, Support-Bargaining and the Information Interface

Economics for an Information Age: Money-Bargaining, Support-Bargaining and the Information Interface

Publisher: Routledge

Publication date: 2019

This book explains the essential role of information in a system of money-bargaining and support-bargaining. The explanation makes plain the fundamental deficiencies of mainstream theory in a system that depends so much on the dissemination and manipulation of information. http://www.routledge.com/9781138611283

The Evolution of Economies: Money-Bargaining, Economic Change and Industrial Revolution

The Evolution of Economies: Money-Bargaining, Economic Change and Industrial Revolution

Publisher: Routledge

Publication date: 2016

The process of support-bargaining and money-bargaining involves situation-related selection, so that there is an inherent evolutionary dynamic. The book contrasts the evolution portrayed in terms of support-bargaining and money-bargaining with existing formulations of evolutionary economic theory, based largely on analogies to Darwinian natural selection. A central chapter identifies the company formats crucial to the evolution of the British economy in the period of the industrial revolution. www.routledge.com/9781138122918

Aspects of Support-Bargaining and Money-Bargaining

Aspects of Support-Bargaining and Money-Bargaining

Publisher: World Economics Association (E-Book)

Publication date: 2015

This is a selection of eight articles, six of which were previously published in academic journals. It includes two articles previously published in the Cambridge Journal of Economics on situation-related selection and the nature of companies. An article on ‘Asymmetric information’, first published in the Real World Economics Review (RWER), focuses on the efforts of economists to modify the neoclassical paradigm to accommodate information issues. www.worldeconomicsassociation.org/books/

Support-Bargaining, Economics and Society: A Social Species

Support-Bargaining, Economics and Society: A Social Species

Publisher: Routledge

Publication date: 2013

This book establishes a ‘backward’ link of support-bargaining to Darwin’s theory of natural selection. It is suggested that Darwin underestimated the importance of the human instinct for self-preservation, with an excessive emphasis on human aggression. Concern for self-preservation gives rise to a sense of insecurity and a search for reassuring support. Cultural evolution is explained as a process of support-bargaining. ‘Money’ is conceived as a creation of support-bargaining, and money-bargaining shares much of the dynamic of support-bargaining. www.routledge.com/9780415641128

Support-Bargaining: The Mechanics of Democracy Revealed

Support-Bargaining: The Mechanics of Democracy Revealed

Publisher: Book Guild

Publication date: 2008

This elaborates on and refines ideas introduced in Getting It Right. It spells out in detail how informal and formal support-bargaining functions, and how a support convention is established. It also goes into detail on the formation of theories through intellectual support-bargaining. Theory formation is conceived as an essential part of the support-bargaining process, and hence an essential part of the mechanics of democracy. This book provides the basic account of support-bargaining and money-bargaining.

Getting It Right: Economics and the Security of Support

Getting It Right: Economics and the Security of Support

Publisher: Book Guild

Publication date: 2004

This presents the objections to the neoclassical model and seeks to establish money-bargaining as a more realistic theory of economic exchange. It develops the idea of situation as the basis of consumer choice. It identifies companies as the specialist money-bargaining agencies of money-bargaining systems. It also develops the idea of support-bargaining in its political context and extends it to intellectual support-bargaining.

A Theory of Support and Money Bargaining

A Theory of Support and Money Bargaining

Publisher: Macmillan

Publication date: 1984

This presents the theory of support-bargaining and money-bargaining in the early stages of its development. It was written on a PhD programme at the London Business School and covers extensively academic work that has a bearing on the theory. It introduces many of the main components of support-bargaining and money-bargaining.