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Markets and Ethical Values

In: Economics and Ethics

Author

Listed:
  • Amitava Krishna Dutt
  • Charles K. Wilber

Abstract

Chapter 4 examined the idea that individuals are not simply self-interested, optimizing agents, but may have emotions, feelings, and in fact have ethical values. It also briefly discussed where individuals’ ethical values come from, and why they possibly change. Chapter 5 examined the relevance of ethical values for interactions between individuals, but did so in fairly general terms, to a large extent using the tools of game theory. This chapter continues with the examination of the relevance of ethics for interactions between individuals, but in the specific context of interactions in markets, arguably the most important institution of modern economies. We will explore how the fact that individuals have ethical values affects markets in which these individuals participate. It will also examine how participation in markets affects the ethical values that individuals hold.

Suggested Citation

  • Amitava Krishna Dutt & Charles K. Wilber, 2010. "Markets and Ethical Values," Palgrave Macmillan Books, in: Economics and Ethics, chapter 6, pages 95-114, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-27723-6_6
    DOI: 10.1057/9780230277236_6
    as

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