IDEAS home Printed from https://ideas.repec.org/p/rsc/rsceui/2014-11.html
   My bibliography  Save this paper

Economists as political philosophers : a critique of normative trade theory

Author

Listed:
  • Robert Lepenies

Abstract

Economists are political philosophers. This claim is defended based on an investigation of normative arguments made in economics textbooks. The paper aims to explain, reconstruct and contest the neoclassical vision implicit in mainstream economic trade theory. Analyzing arguments made by international economists from the perspective of political philosophy, I show how the contemporary defence of free markets and trade liberalization is linked to a specific normative ideal of the political and social good.

Suggested Citation

  • Robert Lepenies, 2014. "Economists as political philosophers : a critique of normative trade theory," RSCAS Working Papers 2014/11, European University Institute.
    • Handle: RePEc:rsc:rsceui:2014/11
    as

    Download full text from publisher

    File URL: http://cadmus.eui.eu/bitstream/handle/1814/31894/MWP_2014_11.pdf?sequence=1
    Download Restriction: no
    File URL: http://hdl.handle.net/1814/31894
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. David J. Hoaas, 1993. "A Historical Narrative of Methodological Change in Principles of Economics Textbooks," Journal of Economic Issues, Taylor & Francis Journals, vol. 27(1), pages 217-230, March.
    2. Bhagwati, Jagdish N, 1982. "Directly Unproductive, Profit-seeking (DUP) Activities," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 988-1002, October.
    3. N Gregory Mankiw, 2010. "Spreading the Wealth Around: Reflections Inspired by Joe the Plumber," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 36(3), pages 285-298.
    4. Panu Kalmi, 2007. "The disappearance of cooperatives from economics textbooks," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 31(4), pages 625-647, July.
    5. Mark Blaug, 1991. "The Historiography of Economics," Books, Edward Elgar Publishing, number 632.
    6. Andrea Maneschi, 2008. "How Would David Ricardo Have Taught The Principle Of Comparative Advantage," Southern Economic Journal, John Wiley & Sons, vol. 74(4), pages 1167-1176, April.
    7. Philippe Mongin, 2006. "Value Judgments and Value Neutrality in Economics," Economica, London School of Economics and Political Science, vol. 73(290), pages 257-286, May.
    8. anonymous, 1981. "International economic situation and outlook," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 44, january/f.
    9. William M. Dugger, 1989. "Instituted Process and Enabling Myth: The Two Faces of the Market," Journal of Economic Issues, Taylor & Francis Journals, vol. 23(2), pages 607-615, June.
    10. Buchanan, Allen, 1985. "Ethics, Efficiency and the Market," OUP Catalogue, Oxford University Press, number 9780198285335.
    11. Corden, W.M., 1984. "The normative theory of international trade," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 1, chapter 2, pages 63-130, Elsevier.
    12. Edward D. Mansfield & Helen V. Milner & B. Peter Rosendorff, 2015. "Why Democracies Cooperate More: Electoral Control and International Trade Agreements," World Scientific Book Chapters, in: Edward D Mansfield (ed.), THE POLITICAL ECONOMY OF INTERNATIONAL TRADE, chapter 11, pages 227-263, World Scientific Publishing Co. Pte. Ltd..
    13. Kapstein, Ethan B., 2000. "Winners and Losers in the Global Economy," International Organization, Cambridge University Press, vol. 54(2), pages 359-384, April.
    14. Mark Blaug, 2007. "The Fundamental Theorems of Modern Welfare Economics, Historically Contemplated," History of Political Economy, Duke University Press, vol. 39(2), pages 185-207, Summer.
    15. Brecher, Richard A. & Choudhri, Ehsan U., 1994. "Pareto gains from trade, reconsidered : Compensating for jobs lost," Journal of International Economics, Elsevier, vol. 36(3-4), pages 223-238, May.
    16. N. Gregory Mankiw, 2013. "Defending the One Percent," Journal of Economic Perspectives, American Economic Association, vol. 27(3), pages 21-34, Summer.
    17. Mandler, Michael, 2001. "Dilemmas in Economic Theory: Persisting Foundational Problems of Microeconomics," OUP Catalogue, Oxford University Press, number 9780195145755.
    18. Hainmueller, Jens & Hiscox, Michael J., 2006. "Learning to Love Globalization: Education and Individual Attitudes Toward International Trade," International Organization, Cambridge University Press, vol. 60(2), pages 469-498, April.
    19. Dan Johansson, 2004. "Economics Without Entrepreneurship or Institutions: A Vocabulary Analysis of Graduate Textbooks," Econ Journal Watch, Econ Journal Watch, vol. 1(3), pages 515-538, December.
    20. Walsh, Vivian, 1994. "Rationality as Self-Interest versus Rationality as Present Aims," American Economic Review, American Economic Association, vol. 84(2), pages 401-405, May.
    21. K. J. Arrow & A. K. Sen & K. Suzumura (ed.), 2002. "Handbook of Social Choice and Welfare," Handbook of Social Choice and Welfare, Elsevier, edition 1, volume 1, number 1.
    22. Kemp, Simon, 2007. "Psychology and opposition to free trade," World Trade Review, Cambridge University Press, vol. 6(1), pages 25-44, March.
    23. Caporaso,James A. & Levine,David P., 1992. "Theories of Political Economy," Cambridge Books, Cambridge University Press, number 9780521425780, September.
    24. Roderick Hill, 2000. "The Case of the Missing Organizations: Co-operatives and the Textbooks," The Journal of Economic Education, Taylor & Francis Journals, vol. 31(3), pages 281-295, September.
    25. de Roover, Raymond, 1958. "The Concept of the Just Price: Theory and Economic Policy," The Journal of Economic History, Cambridge University Press, vol. 18(4), pages 418-434, December.
    26. Blaug,Mark, 1997. "Economic Theory in Retrospect," Cambridge Books, Cambridge University Press, number 9780521577014, September.
    27. Vivian Walsh, 2000. "Smith After Sen," Review of Political Economy, Taylor & Francis Journals, vol. 12(1), pages 5-25.
    28. Andrea Maneschi, 1998. "Comparative Advantage in International Trade," Books, Edward Elgar Publishing, number 856.
    29. J. R. Hicks, 1941. "The Rehabilitation of Consumers' Surplus," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 8(2), pages 108-116.
    30. repec:cup:judgdm:v:3:y:2008:i::p:335-343 is not listed on IDEAS
    31. Deepak Lal, 2008. "Introduction to Reviving the Invisible Hand: The Case for Classical Liberalism in the Twenty-first Century," Introductory Chapters, in: Reviving the Invisible Hand: The Case for Classical Liberalism in the Twenty-first Century, Princeton University Press.
    32. Sen, Amartya, 1999. "Commodities and Capabilities," OUP Catalogue, Oxford University Press, number 9780195650389.
    33. Hands,D. Wade, 2001. "Reflection without Rules," Cambridge Books, Cambridge University Press, number 9780521797962.
    34. Sen, Amartya Kumar, 1970. "The Impossibility of a Paretian Liberal," Scholarly Articles 3612779, Harvard University Department of Economics.
    35. Sen, Amartya, 1970. "The Impossibility of a Paretian Liberal," Journal of Political Economy, University of Chicago Press, vol. 78(1), pages 152-157, Jan.-Feb..
    36. Dow, Sheila C., 2000. "Prospects for the Progress of Heterodox Economics," Journal of the History of Economic Thought, Cambridge University Press, vol. 22(2), pages 157-170, June.
    37. Hicks, John R, 1975. "The Scope and Status of Welfare Economics," Oxford Economic Papers, Oxford University Press, vol. 27(3), pages 307-326, November.
    38. Dobb,Maurice, 1975. "Theories of Value and Distribution since Adam Smith," Cambridge Books, Cambridge University Press, number 9780521099363, September.
    39. Driskill, Robert, 2012. "Deconstructing The Argument For Free Trade: A Case Study Of The Role Of Economists In Policy Debates," Economics and Philosophy, Cambridge University Press, vol. 28(1), pages 1-30, March.
    40. Backhouse, Roger E., 2000. "Progress in Heterodox Economics," Journal of the History of Economic Thought, Cambridge University Press, vol. 22(2), pages 149-155, June.
    41. Coats, A. W. Bob & Backhouse, Roger E. & Dow, Sheila C. & Fusfeld, Daniel R. & Goodwin, Craufurd D. & Rutherford, Malcolm, 2000. "Roundtable: The Progress of Heterodox Economics," Journal of the History of Economic Thought, Cambridge University Press, vol. 22(2), pages 145-148, June.
    42. anonymous, 1981. "International economic situation and developments," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 44, August.
    43. Frederic Lee & Steve Keen, 2004. "The Incoherent Emperor: A Heterodox Critique of Neoclassical Microeconomic Theory," Review of Social Economy, Taylor & Francis Journals, vol. 62(2), pages 169-199.
    44. Bhagwati, Jagdish, 1994. "Free Trade: Old and New Challenges," Economic Journal, Royal Economic Society, vol. 104(423), pages 231-246, March.
    45. Walsh, Vivian, 1996. "Rationality, Allocation, and Reproduction," OUP Catalogue, Oxford University Press, number 9780198287728.
    46. Leonhard Dobusch & Jakob Kapeller, 2012. "Heterodox United vs. Mainstream City? Sketching a Framework for Interested Pluralism in Economics," Journal of Economic Issues, Taylor & Francis Journals, vol. 46(4), pages 1035-1058.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Leo Katz & Alvaro Sandroni, 2020. "Limits on power and rationality," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 54(2), pages 507-521, March.
    2. Andrew Lister, 2017. "Markets, desert, and reciprocity," Politics, Philosophy & Economics, , vol. 16(1), pages 47-69, February.
    3. John A Weymark, 2012. "Social Welfare Functions," Vanderbilt University Department of Economics Working Papers vuecon-sub-13-00018, Vanderbilt University Department of Economics.
    4. repec:hal:journl:dumas-00906152 is not listed on IDEAS
    5. Michele Di Maio, 2013. "Are Mainstream and Heterodox Economists Different? An Empirical Analysis," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1315-1348, November.
    6. Steven Pressman & Gale Summerfield, 2000. "The Economic Contributions of Amartya Sen," Review of Political Economy, Taylor & Francis Journals, vol. 12(1), pages 89-113.
    7. Edward R. Morey, 2018. "What are the ethics of welfare economics? And, are welfare economists utilitarians?," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 65(2), pages 201-230, June.
    8. Robert Garnett, 2006. "Paradigms and pluralism in heterodox economics," Review of Political Economy, Taylor & Francis Journals, vol. 18(4), pages 521-546.
    9. Susumu Cato & Adrien Lutz, 2018. "Kenneth Arrow, moral obligations, and public policies," Working Papers halshs-01973898, HAL.
    10. Maurice Salles, 2006. "La théorie du choix social : de l'importance des mathématiques," Economics Working Paper Archive (University of Rennes & University of Caen) 200617, Center for Research in Economics and Management (CREM), University of Rennes, University of Caen and CNRS.
    11. Kotaro Suzumura, 2002. "Introduction to social choice and welfare," Temi di discussione (Economic working papers) 442, Bank of Italy, Economic Research and International Relations Area.
    12. Sheila C. Dow, 2012. "Variety of Methodological Approach in Economics," Palgrave Macmillan Books, in: Foundations for New Economic Thinking, chapter 13, pages 210-230, Palgrave Macmillan.
    13. Amartya Sen, 2005. "Walsh on Sen after Putnam," Review of Political Economy, Taylor & Francis Journals, vol. 17(1), pages 107-113.
    14. Ngoie, Ruffin-Benoit M., 2012. "Choix social et partage équitable : Une analyse mathématique a posteriori des élections législatives et présidentielles de 2006 et 2011 en RDC [Social choice and fair sharing: An a posteriori mathe," MPRA Paper 64915, University Library of Munich, Germany.
    15. Óscar Carpintero, 2013. "When Heterodoxy Becomes Orthodoxy: Ecological Economics in The New Palgrave Dictionary of Economics," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1287-1314, November.
    16. Colander, David, 2009. "What Was “It” That Robbins Was Defining?," Journal of the History of Economic Thought, Cambridge University Press, vol. 31(4), pages 437-448, December.
    17. Christopher Hartwell, 2022. "Institutions and trade‐related inequality," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 3246-3264, July.
    18. Antoinette Baujard, 2016. "Utilitarianism and anti-utilitarianism," Chapters, in: Gilbert Faccarello & Heinz D. Kurz (ed.), Handbook on the History of Economic Analysis Volume III, chapter 40, pages 576-588, Edward Elgar Publishing.
    19. Christian Roessler & Sandro Shelegia & Bruno Strulovici, 2018. "Collective Commitment," Journal of Political Economy, University of Chicago Press, vol. 126(1), pages 347-380.
    20. Eduard Hartwich & Alexander Rieger & Johannes Sedlmeir & Dominik Jurek & Gilbert Fridgen, 2023. "Machine economies," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-13, December.
    21. Wesley H. Holliday & Eric Pacuit, 2020. "Arrow’s decisive coalitions," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 54(2), pages 463-505, March.

    More about this item

    Keywords

    Political philosophy; Neoclassical economics; Normative trade theory; Free trade; Efficiency;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • D60 - Microeconomics - - Welfare Economics - - - General
    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rsc:rsceui:2014/11. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: RSCAS web unit (email available below). General contact details of provider: https://edirc.repec.org/data/rsiueit.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.