Moral Discourse in the History of Economic Thought

This book explores the extent to which economic ideas are rooted in moral values, adopting a pragmatism approach to address key questions such as property rights, business cycle stabilization, and government policy-making. It argues that economic thought has evolved from an emphasis on sympathy to a rediscovery of fair reciprocity in the wake of behavioral economics and evolutionary psychology.

Format: Hardback
Length: 316 pages
Publication date: 23 June 2022
Publisher: Taylor & Francis Ltd

Providing a comprehensive account of the evolution of economic thought, this insightful work delves into the profound connection between economic ideas and moral values. Adopting a pragmatic approach, the book explores fundamental questions that have been central to the field of economics since the time of classical political economists. These include: determining the appropriate level of priority to accord to property rights among all individual liberties; assessing whether uncertainties in economic life warrant granting political authorities the power to stabilize business cycles; and debating whether it is more advisable to trust entrepreneurial initiatives to address societal challenges or to centralize policy-making in the hands of a benevolent government.

Through a series of engaging chapters, the book argues that economic thought has undergone a significant transformation, moving away from an exclusive emphasis on sympathy (as defined by Adam Smith) and towards a renewed recognition of the significance of sympathy, reimagined as fair reciprocity in the context of the emergence of behavioral economics and its connection to evolutionary psychology.

This book holds immense appeal to readers with a keen interest in the history of ideas, political and moral philosophy, and political economy. It offers valuable insights into the interplay between economic principles and ethical considerations, shedding light on the complex dynamics that shape our economic and social systems.

Weight: 752g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032106113