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Author: Vangelis Chiotis
Publisher: Routledge
ISBN: 135116886X
Category : Business & Economics
Languages : en
Pages : 144
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Book Description
The links between self-interest and morality have been examined in moral philosophy since Plato. Economics is a mostly value-free discipline, having lost its original ethical dimension as described by Adam Smith. Examining moral philosophy through the framework provided by economics offers new insights into both disciplines and the discussion on the origins and nature of morality. The Morality of Economic Behaviour: Economics as Ethics argues that moral behaviour does not need to be exogenously encouraged or enforced because morality is a side effect of interactions between self-interested agents. The argument relies on two important parameters: behaviour in a social environment and the effects of intertemporal choice on rational behaviour. Considering social structures and repeated interactions on rational maximisation allows an argument for the morality of economic behaviour. Amoral agents interacting within society can reach moral outcomes. Thus, economics becomes a synthesis of moral and rational choice theory bypassing the problems of ethics in economic behaviour whilst promoting moral behaviour and ethical outcomes. This approach sheds new light on practical issues such as economic policy, business ethics and social responsibility. This book is of interest primarily to students of politics, economics and philosophy but will also appeal to anyone who is interested in morality and ethics, and their relationship with self-interest.
Author: Vangelis Chiotis
Publisher: Routledge
ISBN: 135116886X
Category : Business & Economics
Languages : en
Pages : 144
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Book Description
The links between self-interest and morality have been examined in moral philosophy since Plato. Economics is a mostly value-free discipline, having lost its original ethical dimension as described by Adam Smith. Examining moral philosophy through the framework provided by economics offers new insights into both disciplines and the discussion on the origins and nature of morality. The Morality of Economic Behaviour: Economics as Ethics argues that moral behaviour does not need to be exogenously encouraged or enforced because morality is a side effect of interactions between self-interested agents. The argument relies on two important parameters: behaviour in a social environment and the effects of intertemporal choice on rational behaviour. Considering social structures and repeated interactions on rational maximisation allows an argument for the morality of economic behaviour. Amoral agents interacting within society can reach moral outcomes. Thus, economics becomes a synthesis of moral and rational choice theory bypassing the problems of ethics in economic behaviour whilst promoting moral behaviour and ethical outcomes. This approach sheds new light on practical issues such as economic policy, business ethics and social responsibility. This book is of interest primarily to students of politics, economics and philosophy but will also appeal to anyone who is interested in morality and ethics, and their relationship with self-interest.
Author: Amartya Sen
Publisher: Wiley-Blackwell
ISBN: 9780631164012
Category : Business & Economics
Languages : en
Pages : 148
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Book Description
In this elegant critique, Amartya Sen argues that welfare economics can be enriched by paying more explicit attention to ethics, and that modern ethical studies can also benefit from a closer contact with economies. He argues further that even predictive and descriptive economics can be helped by making more room for welfare-economic considerations in the explanation of behaviour.
Author: Peter Rona
Publisher: Springer
ISBN: 331953291X
Category : Business & Economics
Languages : en
Pages : 279
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Book Description
The book is reclaiming economics as a moral science. It argues that ethics is a relevant and inseparable aspect of all levels of economic activity, from individual and organizational to societal and global. Taking ethical considerations into account is needed in explaining and predicting the behavior of economic agents as well as in evaluating and designing economic policies and mechanisms. The unique feature of the book is that it not only analyzes ethics and economics on an abstract level, but puts behavioral, institutional and systemic issues together for a robust and human view of economic functioning. It sees economic “facts” as interwoven with human intentionality and ethical content, a domain where utility calculations and moral considerations co-determine the behavior of economic agents and the outcomes of their activities. The book employs the personalist approach that sees human persons – endowed with free will and conscience – as the basic agents of economic life and defines human flourishing as the final end of economic activities. The book demonstrates that economics can gain a lot in meaning and also in analytical power by reuniting itself with ethics.
Author: Peter Róna
Publisher: Springer Nature
ISBN: 3030526739
Category : Philosophy
Languages : en
Pages : 236
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Book Description
This open access book examines from a variety of perspectives the disappearance of moral content and ethical judgment from the models employed in the formulation of modern economic theory, and some of the papers contain important proposals about how moral judgment could be reintroduced in economic theory. The chapters collected in this volume result from the favorable reception of the first volume of the Virtues in Economics series and represent further contributions to the themes set out in that volume: (i) examining the philosophical and methodological fallacies of this turn in modern economic theory that the removal of the moral motivation of economic agents from modern economic theory has entailed; and (ii) proposing a return descriptive economics as the means with which the moral content of economic life could be restored in economic theory. This book is of interest to researchers and students of the methodology of economics, ethics, philosophers concerned with agency and economists who build economic models that rest in the intention of the agent.
Author: Bernard Hodgson
Publisher: Springer Science & Business Media
ISBN: 9783540410621
Category : Business & Economics
Languages : en
Pages : 410
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Book Description
Economics as Moral Science investigates the problem of the ethical neutrality of "mainstream" economic theory within the context of the methodology of economics as a science. Against the conventional wisdom, the author argues that there are serious moral presuppositions to the theory, but that economics could still count as a scientific or rational form of inquiry. The basic questions addressed - the ethical implications of economics, its status as a scientific mode of theory-construction, and the relation between these factors - are absolutely fundamental ones for an understanding of contemporary economics, the philosophy of the human sciences, and our current market culture. Moreover, the study provides a thorough philosophical analysis of the critical issues at stake from the inside, from the credible perspective of a particular, but foundational economic theory - the neoclassical theory of rational choice.
Author: Society for Economic Anthropology (U.S.). Meeting
Publisher: Rowman & Littlefield
ISBN: 9780759112025
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
In Economics and Morality, the authors seek to illuminate the multiple kinds of analyses relating morality and economic behavior in particular kinds of economic systems.
Author: Edmund S. Phelps
Publisher: Russell Sage Foundation
ISBN: 1610446798
Category : Business & Economics
Languages : en
Pages : 243
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Book Description
Presents a collection of papers by economists theorizing on the roles of altruism and morality versus self-interest in the shaping of human behavior and institutions. Specifically, the authors examine why some persons behave in an altruistic way without any apparent reward, thus defying the economist's model of utility maximization. The chapters are accompanied by commentaries from representatives of other disciplines, including law and philosophy.
Author: Samuel Bowles
Publisher: Yale University Press
ISBN: 0300221088
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
Should the idea of economic man—the amoral and self-interested Homo economicus—determine how we expect people to respond to monetary rewards, punishments, and other incentives? Samuel Bowles answers with a resounding “no.” Policies that follow from this paradigm, he shows, may “crowd out” ethical and generous motives and thus backfire. But incentives per se are not really the culprit. Bowles shows that crowding out occurs when the message conveyed by fines and rewards is that self-interest is expected, that the employer thinks the workforce is lazy, or that the citizen cannot otherwise be trusted to contribute to the public good. Using historical and recent case studies as well as behavioral experiments, Bowles shows how well-designed incentives can crowd in the civic motives on which good governance depends.
Author: Paul J. Zak
Publisher: Princeton University Press
ISBN: 1400837367
Category : Business & Economics
Languages : en
Pages : 387
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Book Description
Like nature itself, modern economic life is driven by relentless competition and unbridled selfishness. Or is it? Drawing on converging evidence from neuroscience, social science, biology, law, and philosophy, Moral Markets makes the case that modern market exchange works only because most people, most of the time, act virtuously. Competition and greed are certainly part of economics, but Moral Markets shows how the rules of market exchange have evolved to promote moral behavior and how exchange itself may make us more virtuous. Examining the biological basis of economic morality, tracing the connections between morality and markets, and exploring the profound implications of both, Moral Markets provides a surprising and fundamentally new view of economics--one that also reconnects the field to Adam Smith's position that morality has a biological basis. Moral Markets, the result of an extensive collaboration between leading social and natural scientists, includes contributions by neuroeconomist Paul Zak; economists Robert H. Frank, Herbert Gintis, Vernon Smith (winner of the 2002 Nobel Prize in economics), and Bart Wilson; law professors Oliver Goodenough, Erin O'Hara, and Lynn Stout; philosophers William Casebeer and Robert Solomon; primatologists Sarah Brosnan and Frans de Waal; biologists Carl Bergstrom, Ben Kerr, and Peter Richerson; anthropologists Robert Boyd and Michael Lachmann; political scientists Elinor Ostrom and David Schwab; management professor Rakesh Khurana; computational science and informatics doctoral candidate Erik Kimbrough; and business writer Charles Handy.
Author: Henry C. Clark
Publisher: Capitalist Thought: Studies in Philosophy, Politics, and Economics
ISBN: 9780739192504
Category : Capitalism
Languages : en
Pages : 0
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Book Description
This volume provides an integrated and wide-ranging set of primary-source readings on the relationship between moral values and economic activity, as articulated by some of the leading figures in Western civilization. From the ancient Greeks to the present, Economic Morality: Ancient to Modern Readings offers substantial coverage to each major period of history: classical Antiquity, the Middle Ages, the Renaissance and Reformation, the Enlightenment, the Industrial Revolution, and the modern era. Everything from Aristotle to Adam Smith, from Marx to Hayek, and from Proudhon to Nozick has been brought together in one comprehensive survey. The perspectives represented in our volume include those of Christians and Muslims; Protestants, Catholics, and Jews; believers and non-believers; capitalists and socialists; conservatives and libertarians. They emphasize both law and mores, as well as history, philosophy, religion, and economics. This is a genuinely interdisciplinary volume, and one that invites a catholic and humanistic conversation. In preparing this collection, the contributors aim to recover something of the range of moral opinion that first accompanied the rise of "economics" in the eighteenth-century Enlightenment. The loss of that range of opinion has left a troubling void in our academic and public discourse. Those who broadly embrace the modern economic project tend to view it pragmatically but not morally, while those who are more critical of it often end up in a moral monologue that is unsatisfying to all sides. By showing the optimistic pragmatists the rich tradition of moral criticism and the pessimistic critics the equally rich tradition of (qualified) moral approbation, this volume seeks to facilitate conversation and bring much-needed mutual comprehension to a perennial debate.
