Economic Analysis, Moral Philosophy, and Public Policy
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Economic Analysis, Moral Philosophy, and Public Policy

Daniel Hausman, Michael McPherson, Debra Satz

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eBook - PDF

Economic Analysis, Moral Philosophy, and Public Policy

Daniel Hausman, Michael McPherson, Debra Satz

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About This Book

This book shows through argument and numerous policy-related examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral philosophy together can inform public policy. Part I explores the idea of rationality and its connections to ethics, arguing that when they defend their formal model of rationality, most economists implicitly espouse contestable moral principles. Part II addresses the nature and measurement of welfare, utilitarianism and cost-benefit analysis. Part III discusses freedom, rights, equality, and justice - moral notions that are relevant to evaluating policies, but which have played little if any role in conventional welfare economics. Finally, Part IV explores work in social choice theory and game theory that is relevant to moral decision making. Each chapter includes recommended reading and discussion questions.

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Information

Publisher
Cambridge University Press
Year
2016
ISBN
9781316944530
Edition
3
Topic
Économie
Subtopic
Politique économique
Rationality, 
Morality, 
and 
Markets
54
morality 
and 
preference? 
Can 
one 
(or 
should 
one) 
develop 
a 
conception 
of 
economic 
rationality 
that 
permits 
a 
distinction 
between 
acting 
morally 
and 
maximizing 
utility? 
If 
the 
two 
diverge, 
is 
it 
then 
sometimes 
irrational 
to 
act 
morally 
or 
immoral 
to 
act 
rationally?
Chapter 6 
shiſts 
focus 
from 
questions 
concerning 
the 
bearing 
of 
morality 
on 
individual 
behavior 
to 
the 
bearing 
of 
morality 
on 
markets 
themselves. 
Some 
things 
should 
not 
be 
for 
sale. 
Which? 
For 
what 
reasons? 
How 
do 
markets 
affect 
the 
social 
relations 
among 
individuals 
and 
their 
morals? 
Is 
participation 
in 
competitive 
markets 
corrupting, 
or 
does 
it 
encourage 
hon-
esty 
and 
trustworthiness? 
How 
large 
a 
role 
should 
markets 
play 
in 
social 
relations?

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