Ethics and economics: A view from ecological economics

Abstract

Explains the exogenous and endogenous types of relationships between ethics and economics in neoclassical and non‐neoclassical framework. Studies market consequentialism, deontological preferences and polity‐market (ecology) interactions in recent developments in economic theory and political philosophy. A review of literature is covered. From these studies, bordering ethics and economics, is evolved the contrasting methodology and world view of an endogenous theory underlying the interface between ethics and economics. The underlying principle of ethical endogeneity of this new paradigm is treated with an institution‐economy interface by addressing the issue of sustainability. A simple mathematical formulation is done to show how ethics can be methodologically endogenized in a scientific framework for theory, policy development and institutionalism. Examines Canada′s Green Plan in light of the exogenous and endogenous ethical relationships. The critique is developed and ethico‐economic policy‐theory alternatives are proposed.

Citation

Alam Choudhury, M. (1995), "Ethics and economics: A view from ecological economics", International Journal of Social Economics, Vol. 22 No. 2, pp. 40-60. https://doi.org/10.1108/03068299510078822