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The books’ goal is to answer the question: Do the weaknesses of value-free economics imply the need for a paradigm shift? The author synthesizes criticisms from different perspectives (descriptive and methodological). Special attention is paid to choices over time, because in this area value-free economics has the most problems. In that context, the enriched concept of multiple self is proposed and investigated. However, it is not enough to present the criticisms towards value-free economics. For scientists, a bad paradigm is better (...) |
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This paper examines two strands of literature regarding economic models of cooperation. First, payoff transformation theories assume that people may not be exclusively motivated by self-interest, but also care about equality and fairness. Second, team reasoning theorists assume that people might reason from the perspective of the team, rather than an individualistic perspective. Can these two theories be unified? In contrast to the consensus among team reasoning theorists, I argue that team reasoning can be viewed as a particular type of (...) |
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Over the last few decades, there have been intense debates concerning the effects of markets on the morality of individuals’ behaviour. On the one hand, several authors argue that markets’ ongoing expansion tends to undermine individuals’ intentions for mutual benefit and virtuous character traits and actions. On the other hand, leading economists and philosophers characterize markets as a domain of intentional cooperation for mutual benefit that promotes many of the character traits and actions that traditional virtue ethics accounts classify as (...) |
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In criticizing communitarian views of justice, Amartya Sen argues that identity is not merely a matter of discovery but an object of reasoned choice subject to constraints. Distinguishing three notions of identity – self-perception, perceived identity and social affiliation – I claim that the relevant constraints implied by this argument are minimal. Some of Sen's arguments about perceived identity and social context do not establish any further constraints. Sen also argues that a model of multiculturalism and some forms of education (...) |
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ABSTRACT This paper compares two alternative answers to the question ?Who is the addressee of welfare economics?? These answers correspond with different understandings of the status of the normative conclusions of welfare economics and have different implications for how welfare economics should be adapted in the light of the findings of behavioural economics. The conventional welfarist answer is that welfare economics is addressed to a ?social planner?, whose objective is to maximize the overall well-being of society; the planner is imagined (...) |
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The thesis studies the problem of measuring freedom of choice. It analyzes the concept of freedom of choice, discusses conditions that a measure should satisfy, and introduces a new class of measures that uniquely satisfy ten proposed conditions. |
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One way to think about capitalism-versus-socialism is to examine the extent to which capitalist economic institutions are compatible with the fulfillment of socialist ideals. The late G. A. Cohen has urged that the two are strongly incompatible. He imagines how it would make sense for friends to organize a camping trip, distills the socialist moral principles that he sees fulfilled in the camping trip model, and observes that these principles conflict with a capitalist organization of the economy. He adds that (...) |
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Abstract:Robert Sugden has suggested a normative standard of freedom as ‘opportunity’ that is supposed to help realign normative economics – with its traditional rational choice orientation – with behavioural economics. While allowing preferences to be incoherent, he wants to maintain the anti-paternalist stance of orthodox welfare economics. His standard, though, presupposes that people respond to uncertainty about their own future preferences by dismissing any kind of self-constraint. We argue that the approach lacks psychological substance: Sugden's normative benchmark – the ‘responsible (...) |
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As behavioural economics reveals, human decision-making deviates from neoclassical assumptions about human behaviour and people (often) fail to make the ‘right’ welfare-enhancing choice. The purpose of Sunstein and Thaler’s concept of ‘nudge’ is to improve individual welfare. To provide normative justification, they argue that the only relevant normative criterion is whether the individual is ‘better off as judged by themselves’, so that the direction in which people are to be nudged is defined by their own preferences. In light of behavioural (...) |
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The paper examines Robert Sugden’s arguments for contractarian economics, which exclude objective valuation. From a metaethical stance we claim that it is possible and desirable to enrich the axiology of contractarian economics to make it more convincing and applicable. Analyzing Sugden’s argument against paternalism, we show that adopting a richer axiology is compatible with the contractarian framework. Examining Sugden’s claim for redistribution, we demonstrate that explaining the psychological stability of a market economy is problematic without a richer axiology. Considering sweatshop (...) |
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