- 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
Mainstream economics is essentially utilitarian, both in the motivations it ascribes to individual decision-makers as well as in welfare economics and policy recommendations. But utilitarianism is widely criticized, especially regarding its failure to recognize the value of the individual or recognize meaningful rights. This chapter incorporates into economics the deontological moral philosophy of Immanuel Kant, which emphasizes principle and rights above preferences and welfare. After introducing the basic elements of Kant’s moral, it shows how Kantian ethics can be worked into the standard economic model of choice, allowing the agent to make principled decisions alongside prudential ones. It then surveys several areas of economics in which a Kantian approach can make a significant contribution, including instances of individual choice in which ethical factors are likely to be particularly important, as well as policy issues which are inherently ethical in nature, including the way the state intervenes in market activity.
Mark D. White is Professor and Chair of the Department of Philosophy at the College of Staten Island/CUNY, and a member of the doctoral faculty in economics at the Graduate Center of CUNY.
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