![]() ![]() Until now, the issue of ethics and economics, especially in the context of public policy and development, has been dominated by Amartya Sen who has made fundamental contributions to at least four fields: social choice theory, welfare economics, economic measurement, and development economics. In summary, with methodology, history of economic thought, interdisciplinarity and heterodoxy sidelined to marginal status, economics is lacking in the ethical meaning and implications of its standard concepts such as production, consumption, utility and the market, let alone development itself. ![]() Fourth, economics has isolated itself from other social sciences, so their contributions to ethical questions have been ignored, and fifth, mainstream economics has always been and is now intolerant with heterodox approaches. Third, economics has neglected its own history as a discipline and in the process, its own changing ethical approaches and contents. Second, the very methodology of economics is unable to interrogate its own ethical foundations. First, the rigid distinction between positive-theoretical and normative-factual economics. Amartya Sen: Utilitarianism, Ethics and Public PolicyĪs the reader would agree, economics as a science, in teaching, research and policy, has a very poor record at ethics.Īccording to Ben Fine, Professor of Economics at the University of London, there are five inter-related reasons for this. ![]()
0 Comments
Leave a Reply. |