Altruism Morality And Economic Theory

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.

A critical perspective on the foundations of economic theory showing the importance of ethical considerations and focusing in particular on altruism, cooperation and equity. Mainstream neoclassical economics is analysed and challenged from a moral and socio-economic perspective, emphasizing the relationship between economics, ethics and politics. Throughout the book the nature of homo economicus is contrasted with that of homo ethicus. Their different moral principles, behavioural rules and values are compared and the importance of this battle for a good and civilised society is emphasised.

This volume contains 34 articles on the economics of altruism published after 1975. The articles are grouped under 6 headings: the emergence of altruistic behaviour, varieties of altruism, the relevance of altruism and selfishness, altruism and allocation of resources, evolutionary dynamics of altruism, extended rationality and altruistic behaviour. It should be welcomed by all those with an interest in economics, philosophy, psychology and sociology.

"Ricardo, Marx, Jevons and Wicksteed all feature prominently in the following twelve essays - and, indeed, a number of other economists of the past, from Cantillon onwards, will be found to play a role. Nevertheless, these essays do not, for the most part, constitute history of thought for the genuine historian of thought; they are, rather, attempts to broach more general issues via a tolerably close study of particular texts. The first six essays concern issues in classical political economy, particularly - though not exclusively - that of Ricardo and Marx. The previously unpublished essay 7 provides a bridge to the second half of the volume, discussing Wicksteed's first work in political economy, his 1884 J evonian critique of Marx, and some of the debates which that work provoked. Jevons and Wicksteed are also central to essays 8-10. The final three essays (of which 10 and 11 were previously not readily available) are all concerned with various aspects of preferences and of the complex motivations lying behind economic actions. Are the following essays, then, to be classified as 'history of economic thought' or as 'economic theory'? No, they are not: such classification would be futile. What matters is whether or not they are honest in the rendering of other writers' works, accurate in reasoning and both stimulating and enjoyable to read."

Economics is often accused of being "a-ethical" - lacking a moral perspective - if not altogether immoral. Its detractors criticize economic models of pure and perfect competition, and claim that economics should be concerned with social effects and strive to be equitable. Yet, these critics fail to understand that the discipline has many dimensions. Economics has also developed a group of concerns directly related to ethics. The presence of practical ethics is evident in the economic analysis of behaviour that incorporates ethical preference, altruism, and a responsible calculation based on norms. It is fair today that economics differentiates ethics from purely financial matters, and the discipline can be associated with morality in man's daily life. Volume 14 of the distinguished "Praxiology" series, examine the concept of positive ethics in economics. While normative ethics moralizes economics, trying to render it more "just," positive ethics is first and foremost a model for the construction of theoretical economic reasoning: it reflects on ethical practices within economics, and introduces a model of reasoning that takes individual ethical behaviour and its after-effects into account. The book is divided into three parts. In "Altruism," the contributors discuss the notion of unselfish concern for the welfare of others, and its place in economic practice. In "Commitment," the authors discuss reason as being central to economic theory, as well as the position of ethical behaviour. In "Responsibility," the idea that man is not an island unto himself, but a being involved in a set of relationships, is examined. If a person is simultaneously responsible for himself and others, then how far does his responsibility extend? "Essays on Positive Ethics in Economics" is thought-provoking volume that will be of interest to economists, policymakers, philosophers, and students of ethics and morality.

This timely book offers a nuanced critique of the nudge narrative, and demonstrates why and how ethical behaviour can have significant positive economic and wellbeing outcomes. Morris Altman models a complex alternative to the expectations of ethical behaviour and shows how this behaviour can be consistent with competitive market economies, contrary to what conventional economic theory suggests.

Comprising cutting-edge work on the state of social economics today, this theoretically diverse book includes strong emphasis on the role of ethics, morality, identity, and society in economic theorizing. Much existing economic theory overlooks ethics. Rather than situating the market and values at separate extremes of a continuum, Ethics and the Market contends that the two are necessarily and intimately related. This volume brings together some of the best work in the social economics tradition, with strong contributions and pedagogy, and a cross-national blend of economics, philosophy, and policy. The contributors embed the economic within the social, rather than viewing 'the economy' and 'society' as separable spheres of life activity, and in so doing, three key themes are illuminated, corresponding to the volume's tripartite structure: Morality and Markets Redefining the Boundaries of Economics Social Economics in Transition. Ethics and the Market illuminates the diverse and dynamic theoretical approaches that are employed in social economics, reflecting on their continuously evolving relationship with neoclassical economics. Taking an innovative approach, this integrative book challenges traditional ways of thinking, and will prove vital reading for students and academics in the fields of Economics, Sociology, Gender Studies, and Public Policy.