Values and Value: Moral Economics

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: 15 Sep 2006

See all articles by Paul J. Zak

Paul J. Zak

Claremont Graduate University - Center for Neuroeconomics Studies

Abstract

This chapter will survey neuroscientific research and discuss recent experiments from my lab on the physiologic basis for interpersonal decision-making to support the follow thesis: most people, most of the time, behave ethically, and that a set of shared values is essential to the functioning of modern economies. I call this "moral economics." Next, I will draw implications for law, institutional design, and public policy that follow from moral economics. What I would like to demonstrate is that values are a critical ingredient in producing the historically high living standards in many nations, and are a prerequisite to economic growth in the developing world.

Suggested Citation

Zak, Paul J., Values and Value: Moral Economics. 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=927485

Paul J. Zak (Contact Author)

Claremont Graduate University - Center for Neuroeconomics Studies ( email )

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

Register to save articles to
your library

Register

Paper statistics

Downloads
544
rank
48,779
Abstract Views
2,818
PlumX Metrics
!

Under construction: SSRN citations while be offline until July when we will launch a brand new and improved citations service, check here for more details.

For more information