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Some Reflections on the Role of Moral Reasoning in Economics

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  • Bertil Tungodden

Abstract

People seem to be motivated by moral ideas and in this paper I discuss how we should take this into account in positive and normative economics. I review alternative ways of modelling moral motivation and reasoning in positive economics and discuss how the presence of moral motivation may challenge the standard framework of welfare economics. I also discuss the need for invoking non-welfaristic principles in normative economics and whether these principles can be reconciled with the Pareto principle.

Suggested Citation

  • Bertil Tungodden, 2004. "Some Reflections on the Role of Moral Reasoning in Economics," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 30, pages 49-59.
    • Handle: RePEc:noj:journl:v:30:y:2004:p:49-59
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • D60 - Microeconomics - - Welfare Economics - - - General
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • H4 - Public Economics - - Publicly Provided Goods

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