. . . this is a very ambitious book ranging over a great deal of territory and a great number of issues . . . the general perspectives offered are certainly engaging. Alan Hamlin, Journal of Economic Methodology . . . an illuminating book, informed by careful thought and wide-ranging scholarship. David Gordon, The Mises Review Economics claims to be a science of choice and its unintended consequences, but economists sneak moral judgments in through the back door. Ethics, on the other hand, often falters on the stilts of weak economic theories and assumptions. The result economics without ethics is often sterile, and ethics without economics is often incoherent. Severed from one another, each can be dangerously misleading, and each misses the opportunity to better understand the economic and moral complexity behind social cooperation. Ethics as Social Science helps reconcile the two disciplines, and represents years of seasoned, careful thinking on the topic. Using clear, straightforward language, Yeager argues that economists should be alert to their ethical positions, rather than preach tacitly behind the mask of social welfare analysis and the like. Calling for a comparative institutional analysis, Yeager himself advances an argument in favor of an indirect or rule utilitarianism, one that is sure to unleash debate among libertarians, classical liberals, and defenders of mainstream welfare economics, and among moral philosophers who follow the present state of economic theory. David L. Prychitko, Northern Michigan University, US With this important book, esteemed economist Leland B. Yeager grounds moral and political philosophy in the requirements of a well-functioning society, one whose members reap the gains from peaceful cooperation while pursuing their own diverse goals. This book explores the reasons an individual may have for helping to uphold such a society rather than seeking a free ride on the moral behavior of others. A work in the tradition of Hume, Smith, Mill, von Mises, Hayek and Hazlitt, it expounds a rules or indirect version of utilitarianism. It reviews criticisms of utilitarianism in detail, as well as alternative grounds of ethics including contractarianism, rights-based doctrines, and appeals to specific intuitions. Yeager brings the insights of economics to bear on a field usually dominated by philosophers and theologians. Ethics comes across as a subject amply open to the findings of economics and the other social and natural sciences. Economists, philosophers and other students and scholars of the social sciences will welcome this book. It will also appeal to any reader interested in exploring the ideas of ethics.

This textbook applies economic ethics to evaluate the free market system and enables students to examine the impact of free markets using the three main ethical approaches: utilitarianism, principle-based ethics and virtue ethics. Ethics and Economics systematically links empirical research to these ethical questions, with a focus on the core topics of happiness, inequality and virtues. Each chapter offers a recommended further reading list. The final chapter provides a practical method for applying the different ethical approaches to morally evaluate an economic policy proposal and an example of the methodology being applied to a real-life policy. This book will give students a clear theoretical and methodological toolkit for analyzing the ethics of market policies, making it a valuable resource for courses on economic ethics and economic philosophy.

Economics as a Social Science is a highly readable critique of economic theory, based on a wide range of research, that endeavors to restore economics to its proper role as a social science. Contrary to conventional economic theory, which assumes that people have no free will, this book instead bases economics on the realistic assumption that human beings can choose; that we are complex beings affected by emotion, custom, habit, and reason; and that our behavior varies with circumstances and times. It embraces the findings of history, psychology, and other social sciences and the insights from great literature on human behavior as opposed to the rigidity set by mathematical axioms that define how economics is understood and practiced today. Andrew M. Kamarck demonstrates that only rough accuracy is attainable in economic measurement, and that understanding an economy requires knowledge from other disciplines. The canonical hypotheses of economics (perfect rationality, self-interest, equilibrium) are shown to be inadequate (and in the case of "equilibrium" to be counterproductive to understanding the forces that dominate the economy), and more satisfactory assumptions provided. The market is shown to work imperfectly and to require appropriate institutions to perform its function reasonably well. Further, Kamarck argues that self-interest does not always lead to helping the general interest. Economics as a Social Science examines and revises the fundamental assumptions of economics. Because it avoids jargon and explains terms carefully, it will be of interest to economics majors as well as to graduate students of economics and other social sciences, and social scientists working in government and the private sector. Andrew M. Kamarck is former Director, Economic Development Institute, the World Bank.

This book is a collection of critical engagements with Andrew Sayer, one of the foremost postdisciplinary thinkers of our times, with responses from Sayer himself. Sayer’s ground-breaking contributions to the fields of geography, political economy and social theory have reshaped the terms of engagement with issues and debates running from the methodology of social science through to the environment, and industrial development to the ethical dimensions of everyday life. Transatlantic scholars across a wide range of fields explore his work across four main areas: critical realism; moral economy; political economy; and relations between social theory, normativity and class. This is the first full-length critical assessment of Sayer’s work. It will be of interest to readers in sociology, economics, political economy, social and political philosophy, ethics, social policy, geography and urban studies, from upper-undergraduate levels upwards.

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.

The Political Economy of Business Ethics in East Asia: A Historical and Comparative Perspective deals with modes of ethical persuasion in both public and private sectors of the national economy in East Asia, from the periods of the fourteenth century, to the modern era. Authors in this volume ask how, and why, governments in pre-modern Joseon Korea, modern Korea, and modern Japan used moral persuasion of different kinds in designing national economic institutions. Case studies demonstrate that the concept of modes of exchange first developed by John Lie (1992) provides a more convincing explanation on the evolution of pre-modern and modern economic institutions compared with Marx's modes of production as historically-specific social relations, or Smith's free market as a terminal stage of human economic development. The pre-modern and modern cases presented in this volume reveal that different modes of exchange have coexisted throughout human history. Furthermore, business ethics or corporate social responsibility is not a purely European economic ideology because manorial, market, entrepreneurial, and mercantilist moral persuasions had widely been used by state rulers and policymakers in East Asia for their programs of advancing dissimilar modes of exchange. In a similar vein, the domination of the market and entrepreneurial modes in the twenty-first century world is also complemented by other competing modes of change, such as state welfarism, public sector economies, and protectionism. - Compares Chinese, Japanese, and Korean business ethics from a comparative and historical context - Explores recent theoretical approaches to capitalist development in modern history in non-Western regions - Discusses the theoretical usefulness of new institutionalism, modes of exchange, and neoclassical discussions of business ethics - Evaluates historical texts in their own languages in its attempt to compare Chinese, Japanese, and Korean business ethics in the pre-modern and modern times

This book provides an introduction to the relationship between economics and ethics, explaining why ethics enters economics, how ethics affects individual economic behaviour and the interactions of individuals, and how ethics is important in evaluating the performance of economies and of economic policies.

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.

For over a century the economics profession has extended its reach to encompass policy formation and institutional design while largely ignoring the ethical challenges that attend the profession's influence over the lives of others. Economists have proven to be disinterested in ethics. Embracing emotivism, they often treat ethics a matter of mere preference. Moreover, economists tend to be hostile to professional economic ethics, which they incorrectly equate with a code of conduct that would be at best ineffectual and at worst disruptive to good economic practice. But good ethical reasoning is not reducible to mere tastes, and professional ethics is not reducible to a code. Instead, professional economic ethics refers to a new field of investigation-a tradition of sustained and lively inquiry into the irrepressible ethical entailments of academic and applied economic practice. The Oxford Handbook of Professional Economic Ethics explores a wide range of questions related to the nature of ethical economic practice and the content of professional economic ethics. It explores current thinking that has emerged in these areas while widening substantially the terrain of economic ethics. There has never been a volume that poses so directly and intensively the question of the need for and content of professional ethics for economics. The Handbook incorporates the work of leading scholars and practitioners, including academic economists from various theoretical traditions; applied economists, beyond academia, whose work has direct and immense social impact; and philosophers, professional ethicists, and others whose work has addressed the nature of "professionalism" and its implications for ethical practice.

Increasingly, consumers in North America and Europe see their purchasing as a way to express to the commercial world their concerns about trade justice, the environment and similar issues. This ethical consumption has attracted growing attention in the press and among academics. Extending beyond the growing body of scholarly work on the topic in several ways, this volume focuses primarily on consumers rather than producers and commodity chains. It presents cases from a variety of European countries and is concerned with a wide range of objects and types of ethical consumption, not simply the usual tropical foodstuffs, trade justice and the system of fair trade. Contributors situate ethical consumption within different contexts, from common Western assumptions about economy and society, to the operation of ethical-consumption commerce, to the ways that people’s ethical consumption can affect and be affected by their social situation. By locating consumers and their practices in the social and economic contexts in which they exist and that their ethical consumption affects, this volume presents a compelling interrogation of the rhetoric and assumptions of ethical consumption.