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Books > Business & Economics > Business & management > Business ethics
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Ethics, Rationality, and Economic Behaviour (Hardcover, New)
Loot Price: R6,504
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Ethics, Rationality, and Economic Behaviour (Hardcover, New)
Expected to ship within 12 - 17 working days
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The connection between economics and ethics is as old as economics
itself, and central to both disciplines. It is an issue that has
recently attracted much interest from economists and philosophers.
The connection is, in part, a result of the desire of economists to
make policy prescriptions, which clearly require some normative
criteria. More deeply, much economic theory is founded on the
assumption of utility maximization, thereby creating an immediate
connection between the foundations of economics and the
philosophical literature on utilitarianism and reasons for action.
In fact, some influential contemporary approaches to ethics
advocate decision-theoretic or game-theoretic foundations of some
sort for moral principles, while several economic theorists are now
prepared to take into account the ethical dimensions of rational
decisions. As a result, it appears that economics and ethics are
somehow inextricably linked through theories of rational
decision-making. This book, the outcome of a joint workshop of
economists and philosophers, offers an overview of the current
academic debate on the connections between economics and ethics,
ranging through three main themes: the moral standing of
utilitarianism, the notion of fairness and equity and its formal
treatment, and the coherence and scope of the rationality postulate
underlying standard models of economic behaviour. In particular,
the essays included in the volume provide a detailed analysis of
disclosed contradictions and possible convergences between the
prescriptions of rationality and the requirements of moral
'rightness', as viewed from several different, sometimes
conflicting, perspectives. While the book points mainly to theneed
for a more rigorous appraisal of the moral underpinnings of
economic discourse, it also highlights the open-ended nature of
ethical reasoning. There is much that economists, and especially
welfare economists, can learn from these papers - not least
circumspection.
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