Morality and Economics

Morality and Economics Economic theory rests on the principal axiom of egoism that everyaction is driven by self interest, and is therefore seen as a moralfreescience. Morality, on the other hand, concerns subjective valuejudgement, usually in the interpersonal context of whether an action isright or wrong. Although the two are seemingly unrelated, welfareeconomic theory and its applications cannot proceed very far without theassistance of moral codes. This article discusses the origin andrationale behind the construction of moral codes, the moral codificationof preferences and its associated problems. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Social Economics Emerald Publishing

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0306-8293
DOI
10.1108/03068298910133034
Publisher site
See Article on Publisher Site

Abstract

Economic theory rests on the principal axiom of egoism that everyaction is driven by self interest, and is therefore seen as a moralfreescience. Morality, on the other hand, concerns subjective valuejudgement, usually in the interpersonal context of whether an action isright or wrong. Although the two are seemingly unrelated, welfareeconomic theory and its applications cannot proceed very far without theassistance of moral codes. This article discusses the origin andrationale behind the construction of moral codes, the moral codificationof preferences and its associated problems.

Journal

International Journal of Social EconomicsEmerald Publishing

Published: Feb 1, 1989

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