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Economics as a Moral Science

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  • A. B. ATKINSON

Abstract

Economists frequently make judgments about economic welfare, but there is today little discussion of the foundations of welfare economics. It is assumed either that there is unanimity of interests, or that there is general acceptance of utilitarianism. This means that economics cannot address many key policy issues and that important differences in ethical views cannot be recognized. This paper argues that it is a legitimate exercise of economic analysis to examine the consequences of different ethical positions, taking case studies of employment as a macroeconomic objective, and the role of capabilities in the measurement of economic performance.

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  • A. B. Atkinson, 2009. "Economics as a Moral Science," Economica, London School of Economics and Political Science, vol. 76(s1), pages 791-804, October.
    • Handle: RePEc:bla:econom:v:76:y:2009:i:s1:p:791-804
    DOI: 10.1111/j.1468-0335.2009.00788.x
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    Cited by:

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    2. Thiago Dumont Oliveira & Carlos Eduardo Suprinyak, 2016. "The economist quae political economist: Lionel Robbins and the economic adivisory council," Textos para Discussão Cedeplar-UFMG 535, Cedeplar, Universidade Federal de Minas Gerais.
    3. Paul Koster, 2023. "Counting what counts: Moral considerations and market surplus," Tinbergen Institute Discussion Papers 23-008/VIII, Tinbergen Institute.
    4. Zofia Gródek-Szostak & Jadwiga Adamczyk & Małgorzata Luc & Marcin Suder & Justyna Tora & Karolina Kotulewicz-Wisińska & Wojciech Zysk & Anna Szeląg-Sikora, 2022. "Hard Cash in Hard Times—The Effect of Institutional Support for Businesses Shaken by COVID-19," Sustainability, MDPI, vol. 14(8), pages 1-18, April.
    5. Nicolas Brisset & Benoît Walraevens, 2021. "From capital to property: History and justice in the work of Thomas Piketty [Du capital à la propriété: Histoire et justice dans le travail de Thomas Piketty]," Post-Print hal-03250042, HAL.
    6. Ingrid Robeyns, 2016. "Capabilitarianism," Journal of Human Development and Capabilities, Taylor & Francis Journals, vol. 17(3), pages 397-414, July.
    7. David O’Byrne, 2022. "Restoring human freedoms: from utilitarianism to a capability approach to wetland restoration in Louisiana’s coastal master plan," Journal of Environmental Studies and Sciences, Springer;Association of Environmental Studies and Sciences, vol. 12(2), pages 298-310, June.
    8. van Staveren, I.P., 2017. "Has populism reached economics? Two criteria for assessing normative empirical concepts in economics," ISS Working Papers - General Series 631, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    9. Nicolas Barbaroux & Michel Bellet, 2013. "Monetary policy and value judgments. Did we forget Myrdal's legacy?," Post-Print halshs-00759880, HAL.
    10. Christian Schubert, 2013. "Is Novelty Always a Good Thing? Towards an Evolutionary Welfare Economics," Economic Complexity and Evolution, in: Guido Buenstorf & Uwe Cantner & Horst Hanusch & Michael Hutter & Hans-Walter Lorenz & Fritz Rahmeyer (ed.), The Two Sides of Innovation, edition 127, pages 209-242, Springer.
    11. Marco Ranaldi, 2017. "Anthony Atkinson e l'aritmetica politica del XXI secolo (Anthony Atkinson and Political Arithmetic in the XXI Century)," Moneta e Credito, Economia civile, vol. 70(278), pages 153-171.
    12. Nicolas Barbaroux & Michel Bellet, 2014. "Monetary Policy and Value Judgments : Did we forget Myrdal’s legacy ?," Working Papers 1408, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    13. Marion Fourcade, 2018. "Economics: the view from below," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 154(1), pages 1-9, December.
    14. Maurice Salles, 2014. "‘Social choice and welfare’ at 30: its role in the development of social choice theory and welfare economics," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 42(1), pages 1-16, January.
    15. Richard Cookson & Owen Cotton-Barrett & Matthew Adler & Miqdad Asaria & Toby Ord, 2016. "Years of good life based on income and health: Re-engineering cost-benefit analysis to examine policy impacts on wellbeing and distributive justice," Working Papers 132cherp, Centre for Health Economics, University of York.
    16. Francis Ezieshi Monyei & Wilfred I. Ukpere & Emmanuel Kalu Agbaeze & Solomon Omonona & Lovlyn Ekeowa Kelvin-Iloafu & Happiness Ozioma Obi-Anike, 2021. "The Impact of Succession Management on Small and Medium Enterprises’ Sustainability in Lagos State, Nigeria," Sustainability, MDPI, vol. 13(23), pages 1-12, December.
    17. Renato Cristi, 2018. "Liberalismos alternativos: Peña versus Sandel," Estudios Públicos, Centro de Estudios Públicos, vol. 0(149), pages 367-387.
    18. Edwin Buitelaar, 2022. "Just housing. The moral foundations of American housing policy By Casey J. Dawkins The MIT Press, 2021, Paperback, $40.00 X. 336 pp., ISBN: 9780262543071," Papers in Regional Science, Wiley Blackwell, vol. 101(2), pages 509-511, April.
    19. Anthony B. Atkinson, 2011. "The Restoration of Welfare Economics," American Economic Review, American Economic Association, vol. 101(3), pages 157-161, May.
    20. Grzegorz Przekota & Andrzej Janowski & Anna Szczepanska-Przekota, 2023. "Causality in the Relationship between Economic Growth and Compensation," Sustainability, MDPI, vol. 15(23), pages 1-16, November.
    21. Glenn W. Harrison, 2019. "The behavioral welfare economics of insurance," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 44(2), pages 137-175, September.

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