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Economics and the Virtues - Building a New Moral Foundation | Oxford Scholarship Online
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Economics and the Virtues: Building a New Moral Foundation

Jennifer A. Baker and Mark D. White

Abstract

While ethics has been an integral part of economics since the days of Adam Smith (if not Aristotle), many modern economists dismiss ethical concerns in favor of increasing formal mathematical and computational methods. But recent financial crises in the real world have reignited discussions on the importance of ethics to economics, including growing calls for a new approach to incorporating moral philosophy in economic theory, practice, and policy. Ironically, it is the ethics of virtue advocated by Aristotle and Adam Smith that may lead to the most promising way of developing an economics tha ... More

Keywords: economics, ethics, virtue, virtue ethics, markets, choice, theory, history, methodology

Bibliographic Information

Print publication date: 2016 Print ISBN-13: 9780198701392
Published to Oxford Scholarship Online: March 2016 DOI:10.1093/acprof:oso/9780198701392.001.0001

Authors

Affiliations are at time of print publication.

Jennifer A. Baker, editor
Associate Professor, Department of Philosophy, College of Charleston

Mark D. White, editor
Chair and Professor, Department of Philosophy, College of Staten Island/CUNY