This open access book examines from a variety of perspectives the disappearance of moral content and ethical judgment from the models employed in the formulation of modern economic theory, and some of the papers contain important proposals about how moral judgment could be reintroduced in economic theory. The chapters collected in this volume result from the favorable reception of the first volume of the Virtues in Economics series and represent further contributions to the themes set out in that volume: (i) examining the philosophical and methodological fallacies of this turn in modern economic theory that the removal of the moral motivation of economic agents from modern economic theory has entailed; and (ii) proposing a return descriptive economics as the means with which the moral content of economic life could be restored in economic theory.
This book is of interest to researchers and students of the methodology of economics, ethics, philosophers concerned with agency and economists who build economic models that rest in the intention of the agent.
This open access book examines from a variety of perspectives the disappearance of moral content and ethical judgment from the models employed in the formulation of modern economic theory, and some of the papers contain important proposals about how moral judgment could be reintroduced in economic theory. The chapters collected in this volume result from the favorable reception of the first volume of the Virtues in Economics series and represent further contributions to the themes set out in that volume: (i) examining the philosophical and methodological fallacies of this turn in modern economic theory that the removal of the moral motivation of economic agents from modern economic theory has entailed; and (ii) proposing a return descriptive economics as the means with which the moral content of economic life could be restored in economic theory.
This book is of interest to researchers and students of the methodology of economics, ethics, philosophers concerned with agency and economists who build economic models that rest in the intention of the agent.
Introduction.- Chapter 1. Made with Words. Intentionality and the Objects of Economics (Péter Róna).- Chapter 2. An Essay on Humble Economics (Łukasz Hardt).- Chapter 3. What is economics for? (Brendan Hogan).- Chapter 4. Should economics make a pragmatic turn? John Dewey, Karl Polanyi, and critique of economic naturalism (Maciej Kassner).- Chapter 5. Moral Economics - a theoretical basis for building the next economic system (Zsófia Hajnal).- Chapter 6. How (Not) to Connect Ethics and Economics: Epistemological and Metaethical Problems for the Perfectly Competitive Market (Caspar Willem Safarlou).- Chapter 7. Research Ethics in Economics: What If Economists and Their Subjects are not Rational? (Altug Yalcintas and Eylül Seren Kösel).- Chapter 8. Economic choice revisited: lessons from pre-modern thinkers (Agnieszka Wincewicz-Price).- Chapter 9. Between Individual and Collective Rationality (Anna Horodecka and Liudmyla Vozna).- Chapter 10. Naturalisation of the Normative Economics(Marcin Gorazda).- Chapter 11. Beyond Mere Utility-Maximisation. Towards an Axiologically Enriched Account of Well-Being (Tomasz Kwarciński and Wojciech Załuski).- Chapter 12. Identity Theories in Economics: A Phenomenological Approach (Ricardo Crespo and Ivana Anton Mlinar).- Chapter 13. Temporal Structures of Justification in the Economic Analysis of Law: Legal Philosophy and Free Will (Kevin Jackson).- Index.
Peter Róna is Fellow of Blackfriars Hall, University of
Oxford, where he teaches courses in economics and the philosophical
foundations of the social sciences. He obtained his B.A. degree in
economic history (cum laude) from the University of Pennsylvania
and his law degree from Oxford University (First Class) in 1964. He
was an associate of the Washington, D.C, law firm, Arnold & Porter
and counsel to the US Department of Commerce before becoming the
personal assistant of Lord Richardson, Governor of the Bank of
England. He joined the Schroder Group in 1969 as the General
Counsel of its operations in the United Sates, and became the
President and Chief Executive of the IBJ Schroder Bank & Trust co.
in 1985. In 2003 he joined the faculty of Eötvös Lóránd University
where he taught public international law and in 2006 he was made an
Honorary Professor there. His published articles include a study of
the Euro and an examination of the philosophical foundations of
economics.
Laszlo Zsolnai is professor and director of the Business
Ethics Center at the Corvinus University of Budapest. He is
president of the European SPES Institute in Leuven, Belgium and
Co-chair of the Future Earth Finance & Economics Knowledge and
Action Network in Montreal. Laszlo Zsolnai’s recent books include
The Palgrave Handbook of Spirituality and Business (2011.
Houndmills, UK, New York, NY: Palgrave Macmillan), Beyond Self:
Ethical and Spiritual Dimensions of Economics (2014. Peter Lang
Academic Publishers, Oxford), The Spiritual Dimension of Business
Ethics and Sustainability Management (2015, Springer),
Post-Materialistic Business: Spiritual Value-Orientation in
Renewing Management (2015, Palgrave) and Ethical Leadership. Indian
and European Spiritual Approaches (2016,
Palgrave-Macmillan).
Agnieszka
Wincewicz-Price – head of Behavioural Economics Unit at the
Polish Economic Institute in Warsaw(Poland). Graduate of Warsaw
School of Economics, Erasmus Universiteit in Rotterdam (EIPE) and
Newcastle University where she received her PhD in the Faculty of
Humanities and Social Sciences. Her research interests are economic
and political philosophy, economic methodology and history of
economic thought. Her current work focuses on the problems of
preference formation and change, rational choice theory and
philosophy of economic agency. She studies how these issues are
treated in behavioural economics and – most recently - its
practical application in the politics of nudging. She is the
economics editor of a peer-reviewed journal Politics & Poetics.
Member of the Polish Philosophy of Economics Network.
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