Principles of Ethical Economy
Springer Science & Business Media, 30 nov. 2001 - 283 páginas
The theory of ethical economy analyses the ethical presuppositions of the market economy. It demonstrates that ethics is the pre-coordination in the motives of the economic agents anteceding the coordination of the price system in the market process. Ethical economy develops a positive theory of economic, ethical, and religious coordination of self-interested action described as a super-assurance game of prisoners' dilemma situations. It conceptualises ethics as the corrective of market failure and religion as the corrective of ethics failure. The formal ethics of coordination is then complemented by a theory of the material-substantive ethics of value qualities. One principle of ethical economy is the classical principle of double effect that is used for a theory of managerial and general decision-making. Unintended side-effects (externalities) are a central problem of decisions of large impact. Management decision making must exploit the potential for positive side-effects and control the negative side-effects of managerial decisions. The theory of ethical economy analyses the principles of just price and fair pricing and the relevance of the theory of just price for the pricing behaviour of the modern firm. Principles of Ethical Economy forms a theoretical synthesis of the market theory of modern economics and of the natural right tradition of ethics. It creates new insights into the ethics of the market as well as in the economics presuppositions and consequences of ethical duties, virtues, and goods.
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ability according acting person advantage attain Austrian school become behavior categorical imperative character commutative justice completely concept consumption contract costs criterion decision theory demand deontological ethics determined distribution duty economic action economic ethics economic principle economic rents economic theory economic-ethical economics and ethics efficiency equilibrium ethical action ethical conduct ethical economy ethical rules ethics and economics ethics of values exchange existence external firm formal ethics game theory human action human person idea individual price Kant Koslowski marginal morality market price means mechanism Mises motive nature nomic norms objective goal one's own actions ontology perfect competition political possible preferences prevailing price price formation price justice price system prisoner's dilemma problem production question rationality reality realization relationship religion rent seeking requires Robert Spaemann rule-compliance self-interest sense side effects situation social coordination society strategy subjectivism substantive ethics tion trans transcendence unity universal universalizability valid value-qualities virtue
Página v - I see us free, therefore, to return to some of the most sure and certain principles of religion and traditional virtue — that avarice is a vice, that the exaction of usury is a misdemeanour, and the love of money is detestable...