Economics as Moral Science [Paperback]

Economics as Moral Science investigates the problem of the ethical neutrality of mainstream economic theory within the context of the methodology of economics as a science. Against the conventional wisdom, the author argues that there are serious moral presuppositions to the theory, but that economics could still count as a scientific or rational form of inquiry. The basic questions addressed - the ethical implications of economics, its status as a scientific mode of theory-construction, and the relation between these factors - are absolutely fundamental ones for an understanding of contemporary economics, the philosophy of the human sciences, and our current market culture. Moreover, the study provides a thorough philosophical analysis of the critical issues at stake from the inside, from the credible perspective of a particular, but foundational economic theory - the neoclassical theory of rational choice.1 Introduction.- 2 Theory-Construction in Economic Science.- 3 Rationality, Values, and Economic Theory.- 4 The Intransigence of Evaluative Concepts.- 5 The Ethical Content of Formal Structures.- 6 Teleology and Utilitarian Economics.- 7 Functionalism and the Systems Approach.- 8 Reasons, Causes, and Economic Methodology.- 9 Justification, Obligation and Consumer Motivation.- 10 The Problems Related.- 11 Essential Statements and Holistic Theory.- 12 Economic Uncertainty and Logical Structure.- 13 Economic Uncertainty and Consumer Autonomy.- 14 From Normative Theory to Empirical Science.- 15 Neo-classical Economics and Scientific Utopias.- 16 Neo-classical Economics and the Rational Justifiability of Moral Principles.- 17 Conclusion.- Notes.- References.