Economic Analysis and Moral Philosophy

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Daniel M. Hausman
Cambridge University Press, 1996 - Business & Economics - 249 pages
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Understanding moral philosophy can lead to better economics. Conversely, economic insights and analytical tools can help philosophers. This book draws these two ideas together. Part I focuses on rationality and argues that, in defending their model of rationality, economists find themselves espousing fragments of a highly contestable moral theory. In Part II the authors consider the dubious theory of welfare implicit in standard evaluations of welfare economics and utilitarianism. Part III of this book is concerned with freedom, rights, equality, and justice, which are also important in evaluating economic policies and institutions. Part IV shows that technical work in economics is guided by ethical concepts and is relevant to moral theorizing.
  

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Contents

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About the author (1996)

Daniel M. Hausman is Herbert A. Simon Professor in the Department of Philosophy at the University of Wisconsin, Madison. He previously taught at the University of Maryland at College Park and Carnegie Mellon University. Most of his research has focused on methodological, metaphysical, and ethical issues at the boundaries between economics and philosophy, and in collaboration with Michael McPherson, he founded the Cambridge University Press journal Economics and Philosophy and edited it for its first ten years. His most important books include The Inexact and Separate Science of Economics (1992), Economic Analysis and Moral Philosophy (co-authored with Michael McPherson, 1996), Causal Asymmetries (1998) and Economic Analysis, Moral Philosophy, and Public Policy (an enlarged second edition of the 1996 book co-authored with Michael McPherson, 2006).

Michael S. McPherson is President of Macalester College.

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