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The moral layer of contemporary economics: A virtue-ethics perspective

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  • vranceanu, radu

    ()
    (ESSEC Business School)

Abstract

This paper questions whether the contemporary science of economics and its recommendations are built on sound moral foundations as assessed from a virtue-based definition of ethical behaviour. We argue that the model of man underlying economic analyses can correspond to the model of a virtuous person, and that economics, by advocating reasoned choice and careful resource utilization, makes a positive contribution to the moral development of individuals.

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Bibliographic Info

Paper provided by ESSEC Research Center, ESSEC Business School in its series ESSEC Working Papers with number DR 07006.

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Length: 23 pages
Date of creation: Apr 2007
Date of revision:
Handle: RePEc:ebg:essewp:dr-07006

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Postal: ESSEC Research Center, BP 105, 95021 Cergy, France
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Web page: http://www.essec.edu/
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Related research

Keywords: Economics; Efficiency; Rationality; Tastes; Virtue Ethics;

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References

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  1. Andrei Shleifer, 2004. "Does Competition Destroy Ethical Behavior?," NBER Working Papers 10269, National Bureau of Economic Research, Inc.
  2. Altman, Morris, 2005. "The ethical economy and competitive markets: Reconciling altruistic, moralistic, and ethical behavior with the rational economic agent and competitive markets," Journal of Economic Psychology, Elsevier, vol. 26(5), pages 732-757, October.
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  8. Cowen, Tyler, 1989. "Are all tastes constant and identical? : A critique of Stigler and Becker," Journal of Economic Behavior & Organization, Elsevier, vol. 11(1), pages 127-135, January.
  9. Cole, Harold L & Mailath, George J & Postlewaite, Andrew, 1992. "Social Norms, Savings Behavior, and Growth," Journal of Political Economy, University of Chicago Press, vol. 100(6), pages 1092-1125, December.
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  11. Diamond, Peter A., 1971. "A model of price adjustment," Journal of Economic Theory, Elsevier, vol. 3(2), pages 156-168, June.
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  13. Pollak, Robert A., 1976. "Habit formation and long-run utility functions," Journal of Economic Theory, Elsevier, vol. 13(2), pages 272-297, October.
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  15. von Weizsacker, Carl Christian, 1971. "Notes on endogenous change of tastes," Journal of Economic Theory, Elsevier, vol. 3(4), pages 345-372, December.
  16. Vranceanu, Radu, 2005. "The Ethical Dimension of Economic Choices," ESSEC Working Papers DR 05001, ESSEC Research Center, ESSEC Business School.
  17. Kenneth J. Arrow, 1950. "A Difficulty in the Concept of Social Welfare," Journal of Political Economy, University of Chicago Press, vol. 58, pages 328.
  18. James M. Buchanan, 1992. "Economic Science in the Future," Eastern Economic Journal, Eastern Economic Association, vol. 18(4), pages 401-403, Fall.
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Citations

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Cited by:
  1. Radu Vranceanu, 2013. "Corporate Profit, Entrepreneurship Theory and Business Ethics," Post-Print hal-00823521, HAL.
  2. Vranceanu, Radu & Barthélémy, Jérôme, 2011. "Knowledge in economics and economic reform : An analysis of French survey data," ESSEC Working Papers WP1103, ESSEC Research Center, ESSEC Business School.
  3. George Gotsis & Zoe Kortezi, 2010. "Ethical Considerations in Organizational Politics: Expanding the Perspective," Journal of Business Ethics, Springer, vol. 93(4), pages 497-517, June.

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