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Morals and Markets: Some Theoretical and Policy Implications of Ethical Investing

In: Choice and Public Policy

Author

Listed:
  • Alan Lewis

    (Bath University)

  • Paul Webley

    (University of Exeter)

  • Adrian Winnett

    (Bath University)

  • Craig Mackenzie

    (Bath University)

Abstract

Margaret Thatcher was fond of retelling the parable of the Good Samaritan. In her version the main point was not only that the Good Samaritan was shown to be putting into practice neighbourly concern, but also that he had the money so to do. By implication, a government prepared to restrain public expenditure and reduce taxation is handing moral responsibility for the provision of welfare back to individuals. With a reduced tax burden, the government can be seen as empowering people to put their money where their morals are, which they may exhibit by giving to charity and making provision, through private insurance and savings schemes, for schooling, future health needs, and retirement.

Suggested Citation

  • Alan Lewis & Paul Webley & Adrian Winnett & Craig Mackenzie, 1998. "Morals and Markets: Some Theoretical and Policy Implications of Ethical Investing," Palgrave Macmillan Books, in: Peter Taylor-Gooby (ed.), Choice and Public Policy, chapter 9, pages 164-182, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26302-8_9
    DOI: 10.1007/978-1-349-26302-8_9
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    Citations

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    Cited by:

    1. Jones, Philip & Dawson, Peter, 2007. "`Choice' in collective decision-making processes: Instrumental or expressive approval?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(1), pages 102-117, February.
    2. Webley, Paul & Lewis, Alan & Mackenzie, Craig, 2001. "Commitment among ethical investors: An experimental approach," Journal of Economic Psychology, Elsevier, vol. 22(1), pages 27-42, February.
    3. Matthew Haigh & James Guthrie, 2010. "Management practices in Australasian ethical investment products: a role for regulation?," Business Strategy and the Environment, Wiley Blackwell, vol. 19(3), pages 147-163, March.
    4. Leda Nath & Lori Holder-Webb & Jeffrey Cohen, 2013. "Will Women Lead the Way? Differences in Demand for Corporate Social Responsibility Information for Investment Decisions," Journal of Business Ethics, Springer, vol. 118(1), pages 85-102, November.
    5. Eva Hofmann & Erik Hoelzl & Erich Kirchler, 2008. "A Comparison of Models Describing the Impact of Moral Decision Making on Investment Decisions," Journal of Business Ethics, Springer, vol. 82(1), pages 171-187, September.
    6. Jones Philip & Soguel Nils, 2010. "Fiscal Federalism at the Ballot Box: The Relevance of Expressive Voting," Review of Law & Economics, De Gruyter, vol. 6(3), pages 469-488, December.

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