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Economics was traditionally viewed as part of a wider study of human things, including ethics. It has drifted away from ethics despite the fact that ethical considerations inevitably form part of economics. After a brief introduction, the second section outlines the state of play in the...
Persistent link: https://www.econbiz.de/10009552679
An analysis of Confucius and Smith demonstrates that both are presenting arguments that are extremely close in their conclusions.The Analects present a powerful case against utilitarian ethics in a manner which is very similar to Smith's argument against utilitarianism.Smith and Confucius...
Persistent link: https://www.econbiz.de/10012889656
J. M. Keynes based the ethical foundations of the General Theory on a type of Virtue Ethics that he had learned from G. E. Moore. Keynes himself reinforced his understanding of Moore's version of Virtue ethics with extensive readings of the works of Plato and Aristotle. Keynes was one of the...
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Jeremy Bentham’s Utilitarian tracts The Principles of Morals and Legislation and In Defense of Usury contains an explicit attack on Adam Smith’s The Theory of Moral Sentiments and The Wealth of Nations on pages 8-23 in chapter Two of The Principles of Morals and Legislation, as well as on...
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system of ethics, is completely independent of the issue of whether or not there is a personal God or of any religion …
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Keynes carefully and methodically devoted chapter nine of the General Theory to a detailed discussion of Virtue Ethics which is related to Adam Smith’s discussion in The Theory of Moral Sentiments. Both Virtues and Vices were considered by Keynes. The four main virtues in the Greek version of...
Persistent link: https://www.econbiz.de/10014116889
Carl Menger advanced a narrow definition of exact or theoretical economics. Theoretical economics is the study of the self-interested aspect of human efforts made to meet needs. One implication of this definition, Menger argues, is a strict demarcation between ethics and economics. Menger...
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