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Normative Economics

In: Principles of Microeconomics

Author

Listed:
  • Martin Kolmar

    (University of St. Gallen)

Abstract

This chapter covers … what consequentialist and deontological theories of justice are and how they relate to virtue ethics. how mainstream economics is based on a consequentialists’ ideas of justice. the concept of Pareto efficiency and why competitive markets are efficient. how there could be tensions between efficiency and distributional objectives. how individuals can fail to do what is good for them.

Suggested Citation

  • Martin Kolmar, 2017. "Normative Economics," Springer Texts in Business and Economics, in: Principles of Microeconomics, chapter 5, pages 83-97, Springer.
    • Handle: RePEc:spr:sptchp:978-3-319-57589-6_5
    DOI: 10.1007/978-3-319-57589-6_5
    as

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