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On the Relationship between Economics and Ethics

Author

Listed:
  • Mark D. White

    (College of Staten Island)

Abstract

Economics and ethics have been linked since the days of Adam Smith, but this connection became tenuous after the formalization of economic theory in the twentieth century, the success of which in academia, government, and business serves to insulate it from ethical critique. Nonetheless, a field of “economics and ethics” has developed to restore this connection, albeit in two directions with disparate methodological approaches: one applying mainstream economic theory, primarily based in utilitarian ethics, to topics of ethical concern, and the other incorporating alternate forms of ethics, such as deontology and virtue ethics, to enrich economic analysis.

Suggested Citation

  • Mark D. White, 2018. "On the Relationship between Economics and Ethics," Annals of the Fondazione Luigi Einaudi. An Interdisciplinary Journal of Economics, History and Political Science, Fondazione Luigi Einaudi, Torino (Italy), vol. 52(2), pages 45-56, December.
    • Handle: RePEc:fle:journl:v:52:y:2018:i:2:p:45-56
    DOI: 10.26331/1052
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    More about this item

    Keywords

    Economics and Ethics; Methodology; Utilitarianism; Deontology;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values

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