- List of Figures
- List of Tables
- Notes on Contributors
- Adam Smith and the Study of Ethics in a Commercial Society
- Virtue and Economics, Horse and Cart
- With All Due Respect: A Kantian Approach to Economics
- Ethical Pluralism in Economics
- Economic Ethics and the Capability Approach
- Evolution and Moral Motivation in Economics
- Morality as a Complex Adaptive System: Rethinking Hayek’s Social Ethics
- On the Evolution of Ethics, Rationality, and Economic Behavior
- Human Ethicality: Evidence and Insights from Behavioral Economics
- Ethics <i>and</i> Economics: A Complex Systems Approach
- Economics and Ethics within the Austrian School of Economics
- Feminist Economics and Ethics
- Economy and Culture: The Importance of Sense-Making
- Humane Markets: The Classical Tradition of Political Economy
- Capitalism and Democracy: Allies, Rivals, or Strangers?
- The Moral Status of Profit
- The Ethics of Money and Finance
- Ethics <i>and, in</i>, and <i>for</i> Labor Markets
- Cost-Benefit Analysis and Social Welfare Functions
- The Normative Economics of Social Risk
- The Ethics of Making Risky Decisions for Others
- The Tragedy of Economics: On the Nature of Economic Harm and the Responsibilities of Economists
- Economics, Ethics, and Health Insurance
- Deontological Morality and Economic Analysis of Law
- The Ethics and Economics of Ecological Justice
- Civil Rights, Employment, and Race
- Lessons from Economics
Abstract and Keywords
This chapter examines the nature of ethics and economics as a single subject of investigation, and uses a complex systems approach to characterize the nature of that subject. It then distinguishes mainstream economic and social economic visions of it, where the former assumes that market processes encompass social processes, and the latter assumes that market processes are embedded in social processes. For each vision, strong and weak theses are compared. Both visions are first explained in terms of their respective views of the positive-normative distinction, then in terms of a central normative principle, and then in terms of their policy strategies. The chapter closes with comments on the future status of ethics and economics as a single subject of investigation.
John Davis is Professor Emeritus of Economics, Marquette University, USA, and Professor Emeritus of Economics, University of Amsterdam, Netherlands.
Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.
If you have purchased a print title that contains an access token, please see the token for information about how to register your code.