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Introduction

In: Human Action, Economics, and Ethics

Author

Listed:
  • Javier Aranzadi

    (Universidad Autonoma de Madrid)

Abstract

Now market economy, the firm as institution, and the morality of profits are put at the stake. Market economy based in the firm as the driving institution is considered essentially greedy, and it does not guaranty the moral development of individuals, and a moral re-imagining of the firm as institution is required. In this brief essay, following the theory of human action developed by Mises, I would like to launch the thesis that market economy is open to virtuous activity so far it increases the capabilities and possibilities of individual action, not only the productive and consumption opportunities of persons. My point is to re-interpret Mises within the framework of Aristotelian ethics. Aristotelian ethical approach centers on the acting person. Recovering the classical framework permits a new approach to social sciences not based in utilitarian ethics and mathematical maximizing problems. Market economy is based in the acting person within her socio-cultural framework. Market economy is the mean to economic development and prosperity.

Suggested Citation

  • Javier Aranzadi, 2018. "Introduction," SpringerBriefs in Economics, in: Human Action, Economics, and Ethics, chapter 0, pages 1-3, Springer.
    • Handle: RePEc:spr:spbchp:978-3-319-73912-0_1
    DOI: 10.1007/978-3-319-73912-0_1
    as

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