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‘Ethical Novelty’: new insights into economic change

Author

Listed:
  • Encinar, María Isabel
  • Muñoz, Félix

    (Departamento de Análisis Económico (Teoría e Historia Económica). UAM)

  • Cañibano, Carolina

    (Universidad Rey Juan Carlos)

Abstract

Agents’ knowledge combines their perception of what reality is with their conception of what reality should be. “Ethical dynamics” refers to the evolution in the latter conception. This is a key element to explain changes in agents’ objectives of action, which usually do not result simply from interaction or “cognitive dynamics”. “Ethical novelties” are important sources of economic change. They consist of changes in the structure of action objectives which result from ethical dynamics.

Suggested Citation

  • Encinar, María Isabel & Muñoz, Félix & Cañibano, Carolina, 2006. "‘Ethical Novelty’: new insights into economic change," Working Papers in Economic Theory 2006/03, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).
    • Handle: RePEc:uam:wpaper:200603
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    More about this item

    Keywords

    knowledge; action plan; ethical novelty; cognitive and ethical dynamics; economic change;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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