Ethics and Economics: A Complex Systems Approach

Oxford Handbook of Ethics and Economics, OUP, Forthcoming

22 Pages Posted: 17 May 2018

See all articles by John B. Davis

John B. Davis

Marquette University; University of Amsterdam; Tinbergen Institute

Date Written: May 3, 2018

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, strong 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.

Keywords: ethics and economics, complex systems, mainstream economics, social economics, positive-normative distinction, efficiency, externalities, cost-benefit, capabilities, off limits, taming the market

JEL Classification: A12, A13, B41

Suggested Citation

Davis, John B., Ethics and Economics: A Complex Systems Approach (May 3, 2018). Oxford Handbook of Ethics and Economics, OUP, Forthcoming. Available at SSRN: https://ssrn.com/abstract=3172990

John B. Davis (Contact Author)

Marquette University ( email )

P.O. Box 1881
Milwaukee, WI 53201-1881
United States

University of Amsterdam ( email )

Amsterdam
Netherlands

Tinbergen Institute ( email )

Burg. Oudlaan 50
Rotterdam, 3062 PA
Netherlands

Register to save articles to
your library

Register

Paper statistics

Downloads
57
rank
345,275
Abstract Views
153
PlumX Metrics