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Ethics and Economics: A Complex Systems Approach

Author

Listed:
  • John B. Davis

    (Department of Economics Marquette University)

Abstract
This chapter examines the nature of ethics and economics as a single subject of investigation, and uses a complex systems approach to characterize the nature of that subject. It then distinguishes mainstream economic and social economic visions of it, where the former assumes that market processes encompass social processes, and the latter assumes that market processes are embedded in social processes. For each vision, string and weak theses are compared. Both visions are first explained in terms of their respective views of the positive-normative distinction, then in terms of a central normative principle, and then in terms of their policy strategies. The chapter closes with comments on the future status of ethics and economics as a single subject of investigation.

Suggested Citation

  • John B. Davis, 2018. "Ethics and Economics: A Complex Systems Approach," Working Papers and Research 2018-01, Marquette University, Center for Global and Economic Studies and Department of Economics.
    • Handle: RePEc:mrq:wpaper:2018-01
    as

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    File URL: https://epublications.marquette.edu/econ_workingpapers/61
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    Cited by:

    1. 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.

    More about this item

    Keywords

    ethics and economics; complex systems; mainstream economics; social economics; positive-normative distinction; efficiency; externalities; cost-benefit; capabilities; 'off limits; ' 'taming the market';
    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
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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