Markets and Morality

The paper addresses two issues. First, economics has evolved both as a positive science and, from moral philosophy, also as a normative discipline. Advancing the public good requires that public policy walk on both these legs. Second, the criticism has been forcefully made that markets undermine mor...

Ausführliche Beschreibung

Gespeichert in:

Bibliographische Detailangaben
Veröffentlicht in:	The American economic review 2011-05, Vol.101 (3), p.162-165
1. Verfasser:	Bhagwati, Jagdish
Format:	Artikel
Sprache:	eng
Schlagworte:	Analysis Capitalism Classical economics Economic analysis Economics ECONOMICS AS A MORAL SCIENCE Economists Ethics International relations Keynesianism Market economy Market theory Morality Normativity Philosophical analysis Philosophy Positive economics Public good Public goods Public policy Self interest Studies Values
Online-Zugang:	Volltext
Tags:	Tag hinzufügen Keine Tags, Fügen Sie den ersten Tag hinzu!

Beschreibung
Zusammenfassung:	The paper addresses two issues. First, economics has evolved both as a positive science and, from moral philosophy, also as a normative discipline. Advancing the public good requires that public policy walk on both these legs. Second, the criticism has been forcefully made that markets undermine morality. This contention is refuted in several ways. [PUBLICATION ABSTRACT]
ISSN:	0002-8282 1944-7981
DOI:	10.1257/aer.101.3.162