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Ethical crises in the international political economy

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  • Russell, Jesse

Abstract

The Icelandic banking crisis provides a useful example of how the global economic downturn transformed into a domestic crisis and then transformed again into an international conflict. Rather than a strict economic analysis, discussion around the economic causes and potential cures surrounding the Icelandic banking crisis have been framed in terms of ethics. The analysis shows that ethical paradigms based on consequences, in line with Kant's hypothetical imperative, do not align well with categorical imperatives based on duty when considering international political conflicts. It is unclear that any accounting would have the potential to achieve reconciliation.

Suggested Citation

  • Russell, Jesse, 2012. "Ethical crises in the international political economy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(6), pages 843-848.
    • Handle: RePEc:eee:soceco:v:41:y:2012:i:6:p:843-848
    DOI: 10.1016/j.socec.2012.08.001
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    References listed on IDEAS

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