Product Description

In this elegant critique, Amartya Sen argues that welfare economics can be enriched by paying more explicit attention to ethics, and that modern ethical studies can also benefit from a closer contact with economies. He argues further that even predictive and descriptive economics can be helped by making more room for welfare–economic considerations in the explanation of behaviour.

Product Details

• Amazon Sales Rank: #112955 in Books
• Published on: 1989-02-09
• Original language: English
• Number of items: 1
• Binding: Paperback
• 148 pages

Review
"Sen is one of the true pioneers in modern economics. He has, in effect, created a new branch of the subject... which might one day change mainstream economics beyond recognition." The Economist

"Professor Sen′s thoughts on both philosophy and economics are not only highly original but they are ... presented with a compelling and consummate literary skill." Times Higher Education Supplement

"Sen has never acknowledged a boundary between economics and ethics. He brings philosophical arguments to bear where they are needed in economics, and combines them skillfully with formal analysis." London Review of Books

From the Back Cover
In this elegant critique, Amartya Sen argues that a closer contact between welfare economics and modern ethical studies can substantively enrich and benefit both disciplines. He argues further that even predictive and descriptive economics can be helped by making more room for welfare economic considerations in the explanation of behavior, especially in production relations, which inevitably involve problems of cooperation as well as conflict. The concept of rationality of behaviour is thoroughly proved in this context, with particular attention paid to social interdependence and internal tensions within consequentialist reasoning. In developing his general theme, Sen also investigates some related matters; the misinterpretation of Adam Smith′s views on the role of self–seeking; the plausibility of an objectivist approach that attaches importance to subjective evaluations; and the admissibility of incompleteness and of ′inconsistencies′ in the form of overcompleteness in rational evaluation. Sen also explores the role and importance of freedom in assessing well–being as well as choice. Sen′s contributions to economics and ethics have greatly strengthened the theoretical bases of both disciplines; this appraisal of the connections between the two subjects and their possible development will be welcomed for the clarity and depth it contributes to the debate. These essays are based on the Royer Lectures delivered at the University of California, Berkeley.

About the Author
Amartya Sen is Lamont University Professor at Harvard University. He is affiliated with the Departments of Economics and Philosophy.

Customer Reviews

Rehabilitation of the dismal science:modern economics
Modern economics represents what Prof. Sen refers to as the "engineering approach". It is concerned with technical issues such as supply and demand, the price mechanism. Economics should however be much more. Historically it was a branch of ethics. Adam Smith was a professor in moral philosophy. Its objective should be to understand and predict human behaviour involving economic relationships. "Engineering economics" is limited to the concept of the free market. With competition and the pursuit of economic self-interest society will become happy. This is dangerously wrong according to Prof. Sen. It is wrong because people are not motivated solely by economic self interest but also by fear, pride, hatreds, friendship, family ties and other ethical factors. It is dangerous because some persons have started to believe that the pursuit of economic self-interest is the only moral standard required. Such a belief endangers the well being of the world. The book provides an excellent framework why and how ethical considerations must be part of modern economics.

ethic
ethic