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Ethics And Economics: The Moral Foundations Of The Market Economy.pdf

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Preview of Ethics and economics: The moral foundations of the market economy
🔗 Source: inepan.pl
📊 Size: 209 KB
👤 Author: Jacek
⬇️ Downloads: 729

Summary

The article discusses the moral foundations of the market economy, focusing on the ethical justification for liberal principles such as competition and private property. It explores the application of ethics to the evaluation of the current market economy, using methodological tools from public choice theory. The theory, established by James M. Buchanan, combines theoretical investigations with empirical examples to formulate normative conclusions. The article also examines the concept of preferences in public choice theory, discussing the ontological and epistemological status of preferences and the importance of subjective normative individualism. It highlights the contributions of Amartya Sen and Buchanan to the establishment of a new economics that incorporates ethical considerations, arguing that ethics is an inherent part of economic development and should be used to justify theoretical notions and assess existing institutions and processes.

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The article discusses the moral foundations of the market economy, focusing on the ethical justification for liberal principles such as competition and private...

Technical Information

  • File Format: PDF
  • File Size: 209 KB
  • Pages: 15
  • Language: EN
  • Author: Jacek
  • Total Downloads: 729
  • Last Updated: 7 days ago

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