Introduction: Moral Markets - The Critical Role of Values in the Economy

Free Enterprise: Values in Action Conference Series, 2005-2006

MORAL MARKETS: THE CRITICAL ROLE OF VALUES IN THE ECONOMY, Paul J. Zak, ed., Princeton University Press, 2007

19 Pages Posted: 19 Oct 2006

See all articles by Paul J. Zak

Paul J. Zak

Claremont Graduate University - Center for Neuroeconomics Studies

Abstract

This book calls into question the commonly held view of the economy as being dominated by greed and selfishness. The cartoon of greed is good is nearly ubiquitous in Western countries, and is often more strongly accepted in less developed nations. Yet, this pervasive belief is inconsistent with the scrutiny of scholars ancient and modern. This book draws these findings together to focus on how morals and markets connect to each other. It integrates thought from social philosophers like Aristotle and Adam Smith with current research in behavioral biology and neuroeconomics. This book also asks why economists, business-people, journalists, and the general public continue to believe in greed as the sole driver of trade in markets. The contributors seek to remedy this misapprehension by marshalling evidence across a variety of literatures.

Suggested Citation

Zak, Paul J., Introduction: Moral Markets - The Critical Role of Values in the Economy. Free Enterprise: Values in Action Conference Series, 2005-2006; MORAL MARKETS: THE CRITICAL ROLE OF VALUES IN THE ECONOMY, Paul J. Zak, ed., Princeton University Press, 2007. Available at SSRN: https://ssrn.com/abstract=927474

Paul J. Zak (Contact Author)

Claremont Graduate University - Center for Neuroeconomics Studies ( email )

160 E. 10th St.
Claremont, CA 91711-6165
United States

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