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Utilitarianism and Modern Economics

In: Arrow and the Foundations of the Theory of Economic Policy

Author

Listed:
  • Gunnar Myrdal

Abstract

Already from the beginning in the eighteenth and early nineteenth centuries, economists unhesitatingly saw themselves as political economists. They firmly believed it was part of their duty to draw policy conclusions. And they held that they were entitled to do this on rational grounds—i.e., as logical inferences from their knowledge about the facts.

Suggested Citation

  • Gunnar Myrdal, 1987. "Utilitarianism and Modern Economics," Palgrave Macmillan Books, in: George R. Feiwel (ed.), Arrow and the Foundations of the Theory of Economic Policy, chapter 8, pages 273-278, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-07357-3_9
    DOI: 10.1007/978-1-349-07357-3_9
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