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May you sell your vote? May you sell your kidney? May gay men pay surrogates to bear them children? May spouses pay each other to watch the kids, do the dishes, or have sex? Should we allow the rich to genetically engineer gifted, beautiful children? Should we allow betting markets on terrorist attacks and natural disasters? Most people shudder at the thought. To put some goods and services for sale offends human dignity. If everything is commodified,...
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This book explains why moral beliefs can and likely do play an important role in the development and operation of market economies. It provides new arguments for why it is important that people genuinely trust others-even those whom they know don't particularly care about them-because in key circumstances institutions are incapable of combating opportunism. It then identifies specific characteristics that moral beliefs must have for the people who...
6) What Adam Smith knew: moral lessons on capitalism from its greatest champions and fiercest opponents
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What exactly is capitalism, and why do its advocates support it? What are the main objections to capitalism that have been raised by its critics? Are there moral reasons to support capitalism, or to oppose it? In this time of globalization and economic turbulence, these questions could not be more timely or more important. This book provides some answers through seminal readings on the nature, purpose, and effects of capitalism as understood by its...
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"In Ethics in Economics, Jonathan B. Wight provides an overview of the role that ethical considerations play in economic debates. Whereas much of the field tends to focus on welfare outcomes, Wight calls for a deeper examination of the origin and evolution of our moral norms. He argues that economic life relies on three interrelated ethical systems: outcome-based, duty- and rule-based, and virtue-based. Integrating contemporary theoretical and applied...
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"Is it possible for businesses to have a bottom line that is not profit and endless growth, but human dignity, justice, sustainability and democracy? Or an alternative economic model that is untainted by the greed and crises of current financial systems? Christian Felber says it is. Moreover, in Change Everything he shows us how. The Economy for the Common Good is not just an idea, but has already become a broad international movement with thousands...
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At its core, an economy is about providing goods and services for human well-being. But many economists and critics preach that an economy is something far different: a cold and heartless system that operates outside of human control. In this impassioned and perceptive work, Julie A. Nelson asks a compelling question: If our economic world is something that we as humans create, aren't ethics and human relationships--dimensions of a full and rich life--intrinsically...
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Using Rand's biography to illuminate the policies that led to the economic crash in the U.S. and in Europe and the global financial crisis of 2008, Cunningham shows how her philosophy continues to affect today's politics and policies, starting with her most noted disciple, economist Alan Greenspan (former chairman of the Federal Reserve). Cunningham also shows how right-wing conservatives, libertarians, and the Tea Party movement have co-opted Rand's...
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"The modern world is the marriage of morals and markets. Marital frictions between these two seemingly divergent forces can bring financial meltdowns, environmental disasters, criminal gangs, terrorism and war. Yet sometimes the marriage works well and spreads health and wealth across the globe. The book draws on recent academic research in evolutionary game theory and behavioral economics, and tells familiar stories like the rise of Google as well...
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"In the moral economy, John P. Powelson argues that laws do no more than consolidate what a society has realized culturally. No major historic reform has lasted more than a few decades unless consensus on it had been achieved. Instead, reform arises our of the many positive-sum potentials in the world social order, which intelligent people will find so long as no one can stop them. As citizens defy central authority to seek mutual goals at grassroots...
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"Should we pay children to read books or to get good grades? Should we allow corporations to pay for the right to pollute the atmosphere? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars? Auctioning admission to elite universities? Selling citizenship to immigrants willing to pay? In What Money Can't Buy, Michael J. Sandel takes on one of the biggest ethical questions of...
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"From almost its beginnings economics has been shadowed by 'anti-economics'; a negative twin, which has mocked, denigrated and wished ill on the ideas of Smith, Ricardo, Mill, Walras, Keynes, Hicks and current economic thinkers. This book tells the story of anti-economics from the eighteenth century to the present day, and analyses its many forms: Right, Left, nationalist, historicist, irrationalist, moralist and environmentalist."--Jacket.
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'In this hard-hitting but measured and carefully reasoned book, Burke contends that the economic marketplace should be completely free from government regulation, except for third-party effects, such as the environment. No Harm illuminates the economic issues with insightful emphasis on the moral dimension. Using the Principle of Mutual Benefit and the Principle of No Harm, both developed in much detail, together with an analysis of the concept of...
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Intended as an interfaith clarification of the relationship between the material and the spiritual world, this volume first inspects secular beliefs about the relationship between economics and ethics before investigating the attitudes of three major religions toward this interplay. Exploring the contrasts and similarities between the treatment of economic issues in each of the great monotheistic religions, Rodney Wilson reveals how each tradition...
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