Conventional economics, both in its free enterprise and command versions sought to delink the science of economics from moral religious values and reduce it to a positive science. Now most economists feel an urgent need for objective analysis of the entire economic landscape with a view to...

This article tries to explain the main criticism that the recent Nobel Price in Economics, Amartya Sen, has made to the ethic and methodological basis of utilitarian theories in economics. In the first parte of the work the concepts which laid the foundations to the neoclassic welfare theories...

In this paper we examine whether, and how, welfare economics should incorporate the insights from happiness and satisfaction studies. Our main point is that measuring well-being by reported satisfaction levels can come in conáict with individuals judgments about their own lives and that these...