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Economic Analysis, Moral Philosophy, and Public Policy

Author

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  • Hausman,Daniel
  • McPherson,Michael
  • Satz,Debra

Abstract

This book shows through argument and numerous policy-related examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral philosophy together can inform public policy. Part I explores the idea of rationality and its connections to ethics, arguing that when they defend their formal model of rationality, most economists implicitly espouse contestable moral principles. Part II addresses the nature and measurement of welfare, utilitarianism and cost-benefit analysis. Part III discusses freedom, rights, equality, and justice - moral notions that are relevant to evaluating policies, but which have played little if any role in conventional welfare economics. Finally, Part IV explores work in social choice theory and game theory that is relevant to moral decision making. Each chapter includes recommended reading and discussion questions.

Suggested Citation

  • Hausman,Daniel & McPherson,Michael & Satz,Debra, 2017. "Economic Analysis, Moral Philosophy, and Public Policy," Cambridge Books, Cambridge University Press, number 9781107158313.
    • Handle: RePEc:cup:cbooks:9781107158313
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    Cited by:

    1. Aneta Kargol-Wasiluk & Anna Wildowicz-Giegiel & Marian Zalesko, 2018. "The Evolution of the Economic Man. From Homo Oeconomicus to Homo Moralis," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 1, pages 33-57.
    2. Juan David Parra Heredia, 2019. "[Resena] "El mercado" y la frágil retórica libertaria," Revista Economía y Región, Universidad Tecnológica de Bolívar, vol. 13(1), pages 245-253, June.
    3. Victoria Sgarro & Madhav Tipu Ramachandran, 2023. "The Capability Approach and A Critique of the Design of Digital Spaces," Working Papers 2308, New School for Social Research, Department of Economics.
    4. Stavros A. Drakopoulos, 2024. "Value Judgements, Positivism and Utility Comparisons in Economics," Journal of Business Ethics, Springer, vol. 189(3), pages 423-437, January.
    5. Zamir Eyal, 2020. "Refounding Law and Economics: Behavioral Support for the Predictions of Standard Economic Analysis," Review of Law & Economics, De Gruyter, vol. 16(2), pages 1-35, July.
    6. D. Wade Hands, 2020. "Libertarian paternalism: taking Econs seriously," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 67(4), pages 419-441, December.

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