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Economic Analysis, Moral Philosophy and Public Policy

Economic Analysis, Moral Philosophy and Public Policy

2nd Edition


  • Date Published: March 2006
  • availability: Available
  • format: Hardback
  • isbn: 9780521846295

$ 109.00

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About the Authors
  • This 2006 book shows through accessible argument and numerous examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral philosophy together can inform public policy. Part I explores rationality and its connections to morality. It argues that in defending their model of rationality, mainstream economists implicitly espouse contestable moral principles. Part II concerns welfare, utilitarianism and standard welfare economics, while Part III considers important moral notions that are left out of standard welfare economics, such as freedom, rights, equality, and justice. Part III also emphasizes the variety of moral considerations that are relevant to evaluating policies. Part IV then introduces technical work in social choice theory and game theory that is guided by ethical concepts and relevant to moral theorizing. Chapters include recommended readings and the book includes a glossary of relevant terms.

    • Accessible
    • Lively style
    • Vivid real-world examples
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    Product details

    • Edition: 2nd Edition
    • Date Published: March 2006
    • format: Hardback
    • isbn: 9780521846295
    • length: 354 pages
    • dimensions: 231 x 155 x 25 mm
    • weight: 0.61kg
    • availability: Available
  • Table of Contents

    1. Ethics and economics?
    2. Normative economics: two examples
    3. How ethics matters to positive economics: two examples
    Part I. Rationality and Morality:
    4. Rationality
    5. Rationality in positive and normative economics
    6. Rationality, norms, and morality
    Part II. Welfare and Consequences:
    7. Utilitarianism and consequentialism
    8. Welfare
    9. Efficiency
    Part III. Liberty, Rights, Equality, and Justice:
    10. Liberty, rights and libertarianism
    11. Equality and egalitarianism
    12. Justice and contractualism
    Part IV. Moral Mathematics:
    13. Social choice and theory
    14. Game theory
    15. Pollution transfers and school vouchers - normative economics reconsidered
    16. Economics and ethics, hand in hand

  • Instructors have used or reviewed this title for the following courses

    • Economics and Morality
    • Economics and the Social Ideal
    • Economics for Public Administrators
    • Ethics and Public Affiars
    • Introduction to Philosophy, Politics, and Economics
    • Moral Issues in Business (Political Economy)
    • Philosophy and Economics
    • Topics in Public Policy: Justice, Equity and Public Policy
  • Authors

    Daniel M. Hausman, University of Wisconsin, Madison
    Daniel M. Hausman is Herbert A. Simon Professor of Philosophy at the University of Wisconsin, Madison. He is the author or editor of seven books, including Causal Asymmetries (1998), Essays on Philosophy and Economic Methodology (1992), The Separate and Inexact Science of Economics (1992), both editions of The Philosophy of Economics: An Anthology (1984, 1994), and the first edition of Economic Analysis and Moral Philosophy (Cambridge Surveys in Economic Literature, 1996, with Michael McPherson), all published by Cambridge University Press. Professor Hausman has worked on issues concerning ethics and economics, foundational questions concerning the nature of rationality, economic methodology, and causation. He is currently investigating questions concerning the relations between health, welfare, and preferences.

    Michael S. McPherson, Williams College, Massachusetts
    Michael McPherson, President of the Spencer Foundation in Chicago, Illinois, is past President of Macalester College, St. Paul, Minnesota, and served as Dean of Faculty and Professor of Economics at Williams College. He has been a Fellow of the Institute for Advanced Study in Princeton and Senior Fellow at the Brookings Institution. Jointly with Daniel M. Hausman he founded and edited the Cambridge University Press journal Economics and Philosophy. Dr. McPherson is co-author of five books. His articles have appeared in the Journal for Economic Literature, American Economic Review, Philosophy and Public Affairs, and Ethics. He has served as a trustee at the College Board and the American Council for Education, and is a member of the National Academy of Education.

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