Overview

This 2006 book shows through accessible argument and numerous examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral philosophy together can inform public policy.

Part I: Rationality and Morality

It argues that in defending their model of rationality, mainstream economists implicitly espouse contestable moral principles.

Part II: Welfare and Utilitarianism

Part II concerns welfare, utilitarianism and standard welfare economics.

Part III: Moral Notions in Economics

Part III considers important moral notions that are left out of standard welfare economics, such as freedom, rights, equality, and justice. It also emphasizes the variety of moral considerations that are relevant to evaluating policies.

Part IV: Ethical Concepts in Social Choice and Game Theory

Part IV then introduces technical work in social choice theory and game theory that is guided by ethical concepts and relevant to moral theorizing.

The book includes recommended readings and a glossary of relevant terms.