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A volume by leading economists and philosophers that explores the contributions that virtue ethics can make to economics. Provides historical and modern insights in both economics and philosophy and offers suggestions for incorporating the ethics of virtue into economics to make it more applicable to moral dilemmas in the world outside the models.
Interest in Aristotelianism and in virtue ethics has been growing for half a century but as yet the strengths of the study of Aristotelian ethics in politics have not been matched in economics. This ground-breaking text fills that gap. Challenging the premises of neoclassical economic theory, the contributors take issue with neoclassicism’s foundational separation of values from facts, with its treatment of preferences as given, and with its consequent refusal to reason about final ends. The contrary presupposition of this collection is that ethical reasoning about human ends is essential for any sustainable economy, and that reasoning about economic goods should therefore be informed by reasoning about what is humanly and commonly good. Contributions critically engage with aspects of corporate capitalism, managerial power and neoliberal economic policy, and reflect on the recent financial crisis from the point of view of Aristotelian virtue ethics. Containing a new chapter by Alasdair MacIntyre, and deploying his arguments and conceptual scheme throughout, the book critically analyses the theoretical presuppositions and institutional reality of modern capitalism.
For a century and a half, the artists and intellectuals of Europe have scorned the bourgeoisie. And for a millennium and a half, the philosophers and theologians of Europe have scorned the marketplace. The bourgeois life, capitalism, Mencken’s “booboisie” and David Brooks’s “bobos”—all have been, and still are, framed as being responsible for everything from financial to moral poverty, world wars, and spiritual desuetude. Countering these centuries of assumptions and unexamined thinking is Deirdre McCloskey’s The Bourgeois Virtues, a magnum opus that offers a radical view: capitalism is good for us. McCloskey’s sweeping, charming, and even humorous survey of ethical thought and economic realities—from Plato to Barbara Ehrenreich—overturns every assumption we have about being bourgeois. Can you be virtuous and bourgeois? Do markets improve ethics? Has capitalism made us better as well as richer? Yes, yes, and yes, argues McCloskey, who takes on centuries of capitalism’s critics with her erudition and sheer scope of knowledge. Applying a new tradition of “virtue ethics” to our lives in modern economies, she affirms American capitalism without ignoring its faults and celebrates the bourgeois lives we actually live, without supposing that they must be lives without ethical foundations. High Noon, Kant, Bill Murray, the modern novel, van Gogh, and of course economics and the economy all come into play in a book that can only be described as a monumental project and a life’s work. The Bourgeois Virtues is nothing less than a dazzling reinterpretation of Western intellectual history, a dead-serious reply to the critics of capitalism—and a surprising page-turner.
This study analyses the influence that Adam Smith's philosophy had on his Wealth of Nations, and reveals the unity in Smith's extensive system of morals, politics, and economics. It concludes that Smith was motivated by a political ideal, which was moral liberalism.
In the aftermath of the recent economic downturn, some observers leveled harsh criticism against free-market economies. In the spring of 2009, for instance, an article in the The London Telegraph insisted that the industrialized West must re-articulate its moral case for market capitalism. Additionally, numerous commentators proclaimed the days of unfettered markets to be over. In this timely and balanced book, Austin Hill and Scott Rae agree with capitalism's critics that the economy is essentially a moral issue, but they argue that free markets are by-and-large the solution to financial disasters rather than the cause. Though they recognize that there are legitimate criticisms of the market system -- and real limits to what it can and should accomplish -- the authors further conclude that capitalism both depends upon and sustains classic Judeo-Christian virtues better than any of its rival systems. Thoughtful and engaging, this book pushes against the tide of current public opinion and some of the administration's proposed economic policies with a principled defense of capitalism.
Being oblivious to the motivational nuances behind human behavior could lead one to overlook the distinction that a good action does not always indicate a good character. Conversely, this book argues that such nuances are paramount. Focusing on character over consequences is vital because motivational differences have fundamental implications for the welfare of the individual and society. Drawing on Aristotelian virtue ethics, the book argues that the utilitarian economic rhetoric, the rise of identity politics, and the growing commodification have allowed an illusion that moral and economic lives can be detached to take root in our culture. The book provides a robust philosophical argument articulating the inadequacy of the modern conception of morality (as a set of universal rules) that underlies economics and many modern-day institutions and aims to create a greater awareness of the connection between virtuous character and leading fulfilled lives. Integrating contemporary empirical findings with theoretical/philosophical insights, the book develops a coherent and convincing framework that could help transform the welfare ideology that underlies economic policies and modern institutions. This book is essential for anyone interested in questions of ethics in economics and related fields, including welfare economics, microeconomics, political economy, institutional economics, evolutionary economics, social economics, and behavioral economics.
'The Political Economy of Virtue' offers an interpretation of political economy in the second half of the 18th century. It covers the key turning points in the development of French political economy.
The 18th century was a wealth of knowledge, exploration and rapidly growing technology and expanding record-keeping made possible by advances in the printing press. In its determination to preserve the century of revolution, Gale initiated a revolution of its own: digitization of epic proportions to preserve these invaluable works in the largest archive of its kind. Now for the first time these high-quality digital copies of original 18th century manuscripts are available in print, making them highly accessible to libraries, undergraduate students, and independent scholars. The Age of Enlightenment profoundly enriched religious and philosophical understanding and continues to influence present-day thinking. Works collected here include masterpieces by David Hume, Immanuel Kant, and Jean-Jacques Rousseau, as well as religious sermons and moral debates on the issues of the day, such as the slave trade. The Age of Reason saw conflict between Protestantism and Catholicism transformed into one between faith and logic -- a debate that continues in the twenty-first century. ++++ The below data was compiled from various identification fields in the bibliographic record of this title. This data is provided as an additional tool in helping to insure edition identification: ++++ British Library T141578 With a half-title. Pp. 317-336 omitted; text and register are continuous. London: printed for A. Millar; and A. Kincaid and J. Bell, in Edinburgh, 1759. [12],316, [1],338-551, [1]p.; 8°
Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: enjoyment. Men of retirement and fpecula- tion, who are apt to fit brooding at home over either grief or refentment, though they may often have more humanity, more gene- rofity, and a nicer fenfe of honour, yet fel- dom poffefs that equality of temper which is fo common among men of the world. CHAP. V. Of the amiabIe and refpettable virtues. i UPON thefe two different efforts, upon that of the fpectator to enter into the fentiments of the perfon principally concerned, and upon that of the perfon principally concerned, to bring down his emotions to what the fpectator can go along with, are founded two different fets of virtues. The foft, the gentle, the amiable virtues, the virtues of candid condefcenfion and indulgent humanity, are founded upon the one: the great, the awful and refpeftable, the virtues of felf- denial, of felf-governrnent, of that command of the paffions which fubjects all the movements of our nature to what our own dignity and honour, and the propriety of our own conduct require, take their origin from the other. How amiable does he appear to be, 'whofe fympathetic heart feems to re-echo all the fentiments of thofe with whom he converfes, who grieves for their calamities, who refentstheir injuries, and who rejoices at their good fortune When we bring home to ourfelves the fituation of his companions, we enter into their gratitude, and feel what confolation they muft derive from the tender fympathy of fo affectionate a friend. And for a contrary reafon, how difagreeable does he appear to be, whofe hard and obdurate heart feels for himfelf only, but is altogether infenfible to the happinefs or mifery of others We enter, in this cafe too, into the pain which his prefence muft give to every mortal with whom he converfes, to thofe efpecially with whom...
In this highly acclaimed, provocative book, Robert Kuttner disputes the laissez-faire direction of both economic theory and practice that has been gaining in prominence since the mid-1970s. Dissenting voices, Kuttner argues, have been drowned out by a stream of circular arguments and complex mathematical models that ignore real-world conditions and disregard values that can't easily be turned into commodities. With its brilliant explanation of how some sectors of the economy require a blend of market, regulation, and social outlay, and a new preface addressing the current global economic crisis, Kuttner's study will play an important role in policy-making for the twenty-first century. "The best survey of the limits of free markets that we have. . . . A much needed plea for pragmatism: Take from free markets what is good and do not hesitate to recognize what is bad."—Jeff Madrick, Los Angeles Times "It ought to be compulsory reading for all politicians—fortunately for them and us, it is an elegant read."—The Economist "Demonstrating an impressive mastery of a vast range of material, Mr. Kuttner lays out the case for the market's insufficiency in field after field: employment, medicine, banking, securities, telecommunications, electric power."—Nicholas Lemann, New York Times Book Review "A powerful empirical broadside. One by one, he lays on cases where governments have outdone markets, or at least performed well."—Michael Hirsh, Newsweek "To understand the economic policy debates that will take place in the next few years, you can't do better than to read this book."—Suzanne Garment, Washington Post Book World