Markets as Processes of Moral Discovery

Studies In Emergent Order, vol. 7 (2014): 258-272.

15 Pages Posted: 12 Feb 2014 Last revised: 21 Apr 2018

See all articles by Benjamin Powell

Benjamin Powell

Texas Tech University - Free Market Institute; Texas Tech University - Rawls College of Business

Rosolino Candela

Mercatus Center at George Mason University

Date Written: February 11, 2014

Abstract

The Genesis and Ethos of the Market makes the assertion that virtue is not inconsistent with economic liberty. This raises the question about the relationship between virtue and economic liberty addressed in the "Civil Economy" tradition of the Neapolitan Enlightenment. We explore this question by analyzing the parallel emphases of two related schools of thought. One examines the role of practical reason in the Aristotelian ethical tradition. The other examines the role of entrepreneurship in the Austrian school of economics. Both provide insights into the institutional conditions in which practical reason and entrepreneurship are linked and flourish as discovery processes.

Keywords: Virtue; Self-Interest; Entrepreneurship

JEL Classification: B53, P16, Z13

Suggested Citation

Powell, Benjamin and Candela, Rosolino, Markets as Processes of Moral Discovery (February 11, 2014). Studies In Emergent Order, vol. 7 (2014): 258-272. . Available at SSRN: https://ssrn.com/abstract=2394129

Benjamin Powell

Texas Tech University - Free Market Institute ( email )

Box 45059
Lubbock, TX 79409-5059
United States
806.742.7138 (Phone)
806.742.1854 (Fax)

HOME PAGE: http://www.fmi.ttu.edu

Texas Tech University - Rawls College of Business ( email )

Lubbock, TX 79409
United States
806.834.3097 (Phone)
806.742.1854 (Fax)

Rosolino Candela (Contact Author)

Mercatus Center at George Mason University ( email )

4400 University Drive
Fairfax, VA 22030
United States

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