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The Moral Economy

Author: Samuel Bowles

Publisher: Yale University Press

Published: 2016-05-28

Total Pages: 200

ISBN-13: 0300221088

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.

Economic Morality

Author: Henry C. Clark

Publisher: Capitalist Thought: Studies in Philosophy, Politics, and Economics

Published: 2014

Total Pages: 0

ISBN-13: 9780739192504

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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.

Altruism, Morality, and Economic Theory

Author: Edmund S. Phelps

Publisher: Russell Sage Foundation

Published: 1975-05-21

Total Pages: 243

ISBN-13: 1610446798

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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.

The Morality of Economic Behaviour

Author: Vangelis Chiotis

Publisher: Routledge

Published: 2020-05-25

Total Pages: 144

ISBN-13: 135116886X

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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.

On Moral Business

Author: Max L. Stackhouse

Publisher: Wm. B. Eerdmans Publishing

Published: 1995-09-05

Total Pages: 1002

ISBN-13: 9780802806260

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An invaluable resources for the study of the relation of business, economics, ethics, and religion.

On Ethics and Economics

Author: Amartya Sen

Publisher: Wiley-Blackwell

Published: 1991-01-08

Total Pages: 148

ISBN-13: 9780631164012

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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.

A Moral Political Economy

Author: Federica Carugati

Publisher: Cambridge University Press

Published: 2021-06-24

Total Pages: 151

ISBN-13: 1108873421

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Economies - and the government institutions that support them - reflect a moral and political choice, a choice we can make and remake. Since the dawn of industrialization and democratization in the late eighteenth century, there has been a succession of political economic frameworks, reflecting changes in technology, knowledge, trade, global connections, political power, and the expansion of citizenship. The challenges of today reveal the need for a new moral political economy that recognizes the politics in political economy. It also requires the redesign of our social, economic, and governing institutions based on assumptions about humans as social beings rather than narrow self-serving individualists. This Element makes some progress toward building a new moral political economy by offering both a theory of change and some principles for institutional (re)design.

Economic Inequality and Morality

Author: Richard Madsen

Publisher: Brookings Institution Press

Published: 2019-08-27

Total Pages: 332

ISBN-13: 0815737203

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Examining inequality through the lenses of moral traditions Rising inequality has attracted a great deal of attention in recent years from scholars and politicians, but the moral dimensions of inequality tend to be ignored. Is inequality morally acceptable? Is it morally permissible to allow practices and systems that contribute to inequality? Is there an ethical obligation to try to alleviate inequality, and if so, who is obligated to take that action? This book addresses these and similar questions not through a single lens of morality but through a comparative study of ethical traditions, both secular and religious, Western and non-Western. The moral and political traditions considered are: liberalism, Marxism, natural law, feminism, Buddhism, Judaism, Islam, Christianity, and Confucianism. The types of inequality examined include property, natural resources, products, wealth, income, jobs, and taxation. The editors open the book with an introduction providing information on contemporary dimensions of the problem of economic inequality, and the book concludes with a summary of the perspectives represented. Economic Inequality and Morality is unusual in that it addresses similarities and differences on the questions of inequality within and across moral traditions. Authors of the individual studies answer a common set of topic-related questions, giving the reader a broad perspective on how a broad range of traditions view and respond to inequality.

Virtue and Economy

Author: Andrius Bielskis

Publisher: Routledge

Published: 2016-03-09

Total Pages: 264

ISBN-13: 1317001516

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Interest in Aristotelianism and in virtue ethics has been growing for half a century but as yet the strengths of the study of Aristotelian ethics in politics have not been matched in economics. This ground-breaking text fills that gap. Challenging the premises of neoclassical economic theory, the contributors take issue with neoclassicism’s foundational separation of values from facts, with its treatment of preferences as given, and with its consequent refusal to reason about final ends. The contrary presupposition of this collection is that ethical reasoning about human ends is essential for any sustainable economy, and that reasoning about economic goods should therefore be informed by reasoning about what is humanly and commonly good. Contributions critically engage with aspects of corporate capitalism, managerial power and neoliberal economic policy, and reflect on the recent financial crisis from the point of view of Aristotelian virtue ethics. Containing a new chapter by Alasdair MacIntyre, and deploying his arguments and conceptual scheme throughout, the book critically analyses the theoretical presuppositions and institutional reality of modern capitalism.