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Economic Analysis, Moral Philosophy, and Public Policy

Author

Listed:
  • Hausman,Daniel
  • McPherson,Michael
  • Satz,Debra

Abstract

This book shows through argument and numerous policy-related examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral philosophy together can inform public policy. Part I explores the idea of rationality and its connections to ethics, arguing that when they defend their formal model of rationality, most economists implicitly espouse contestable moral principles. Part II addresses the nature and measurement of welfare, utilitarianism and cost-benefit analysis. Part III discusses freedom, rights, equality, and justice - moral notions that are relevant to evaluating policies, but which have played little if any role in conventional welfare economics. Finally, Part IV explores work in social choice theory and game theory that is relevant to moral decision making. Each chapter includes recommended reading and discussion questions.

Suggested Citation

  • Hausman,Daniel & McPherson,Michael & Satz,Debra, 2016. "Economic Analysis, Moral Philosophy, and Public Policy," Cambridge Books, Cambridge University Press, number 9781316610886.
    • Handle: RePEc:cup:cbooks:9781316610886
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    Citations

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    Cited by:

    1. Sandro Ambuehl & Sebastian Blesse & Philipp Doerrenberg & Christoph Feldhaus & Axel Ockenfels, 2023. "Politicians’ Social Welfare Criteria – An Experiment with German Legislators," ifo Working Paper Series 391, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    2. Salil K. Sen, 2020. "Decovidization through Rurbanization: The Re-development Option for Sustainable Energy Access," International Journal of Energy Economics and Policy, Econjournals, vol. 10(5), pages 515-523.
    3. Saeid Nazari Adli & Subeh Chowdhury, 2021. "A Critical Review of Social Justice Theories in Public Transit Planning," Sustainability, MDPI, vol. 13(8), pages 1-13, April.
    4. Kevin Leportier, 2024. "Altruism and the Simple Argument for Markets," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-04571499, HAL.
    5. Marja Elsinga & Joris Hoekstra & Mohamad Sedighi & Behnam Taebi, 2020. "Toward Sustainable and Inclusive Housing: Underpinning Housing Policy as Design for Values," Sustainability, MDPI, vol. 12(5), pages 1-15, March.
    6. Nagy, Benedek & Lukovics, Miklós, 2021. "A felelősségteljes innováció és a gazdasági racionalitás kapcsolatrendszere vállalati környezetben [Linkages between responsible innovation and economic rationality in a corporate environment]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(4), pages 421-436.
    7. M. V. Nadkarni, 2024. "Moral evolution as development: an unfinished task," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 26(1), pages 50-64, October.
    8. Malte Dold & Tim Krieger, 2019. "The “New” Crisis of the Liberal Order: Populism, Socioeconomic Imbalances, and the Response of Contemporary Ordoliberalism," Journal of Contextual Economics (JCE) – Schmollers Jahrbuch, Duncker & Humblot, Berlin, vol. 139(2–4), pages 243-258.
    9. Asad Zaman & Taseer Salahuddin, 2020. "Models and Reality: How Did Models Divorced from Reality Become Epistemologically Acceptable?," International Econometric Review (IER), Econometric Research Association, vol. 12(1), pages 50-74, April.
    10. Noel Semple, 2021. "Good Enough for Government Work? Life-Evaluation and Public Policy," Journal of Happiness Studies, Springer, vol. 22(3), pages 1119-1140, March.

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