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Books > History > History of specific subjects > Economic history
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Economics and the Virtues - Building a New Moral Foundation (Hardcover)
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Economics and the Virtues - Building a New Moral Foundation (Hardcover)
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While ethics has been an integral part of economics since the days
of Adam Smith (if not Aristotle), many modern economists dismiss
ethical concerns in favor of increasing formal mathematical and
computational methods. But recent financial crises in the real
world have reignited discussions of the importance of ethics to
economics, including growing calls for a new approach to
incorporating moral philosophy in economic theory, practice, and
policy. Ironically, it is the ethics of virtue advocated by
Aristotle and Adam Smith that may lead to the most promising way to
developing an economics that emphasizes the virtues, character, and
judgment of the agents it models. In Economics and the Virtues,
editors Jennifer A. Baker and Mark D. White have brought together
fifteen leading scholars in economics and philosophy to offer fresh
perspectives on integrating virtue into economics. The first
section covers five major thinkers and schools in the virtue
tradition, tracing historical connections and suggesting new areas
of cooperation. The second section applies the ethics of virtue to
modern economic theory, delving into its current practices and
methodology to suggest areas for integration with moral philosophy.
Finally, the third section addresses specific topics such as
markets, profits, and justice in the context of virtue and vice,
offering valuable applications of virtue to economics. With
insights that are novel as well as rooted in time-tested ethical
thought, Economics and the Virtues will be of interest to
economists, philosophers, and other scholars in the social sciences
and humanities, as well as professionals and policymakers in the
fields of economics and finance, and makes an invaluable
contribution to the ongoing discussion over the role of ethics in
economics.
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