| spelling |
oapen-20.500.12657-242562024-03-22T19:23:20Z Ethical Codes and Income Distribution Forges Davanzati, Guglielmo john bates clark thorstein veblen marginal productivity labour market bargaining thema EDItEUR::Q Philosophy and Religion::QD Philosophy::QDT Topics in philosophy::QDTQ Ethics and moral philosophy thema EDItEUR::K Economics, Finance, Business and Management::KC Economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management In contemporary non-mainstream economic debate, it is widely thought that the functioning of a market economy needs a set of rules (i.e. institutions) which bind agents in their behaviour, allowing efficient outcomes. This idea is contrary to the General Equilibrium Model (GEM) where markets are pictured as working in an institutional vacuum and where social and historical variables play no role. However, in more recent times, a large group of economists have begun to insert social and moral variables into standard models based on the rational choice paradigm, following the increasing interest – on the part of firms – in the possible positive effects of adopting ethical codes. In this key new text Guglielmo Davanzati studies this burgeoning view that ethics and economics can be compatible. Does ‘morality’ affect income distribution? And, if so, what are the effects of the widespread adoption of ethical codes on the functioning of the labour market? Central to Davanzati’s efforts is the thesis that the roots of these new developments can be traced back to the pioneering work of Thorstein Veblen and John Bates Clark. Utilizing their contrasting works, Davanzati’s text illuminates the propagation of ethical codes within the two opposing frameworks i.e. the neoclassical and the institutional. Davanzati’s important book will be an invaluable reference for readers interested in history of economic thought, economics and moral philosophy. 2019-11-21 14:14:16 2020-04-01T09:51:55Z 2020-04-01T09:51:55Z 2006 book 1005875 OCN: 1135855012 9780415365390;9780415494113;9781134215850;9781134215843;9781134215805 http://library.oapen.org/handle/20.500.12657/24256 eng Routledge Studies in the History of Economics application/pdf Attribution-NonCommercial-NoDerivatives 4.0 International 1005875.pdf https://www.taylorfrancis.com/books/9781134215850 Taylor & Francis 10.4324/9780203016794 10.4324/9780203016794 7b3c7b10-5b1e-40b3-860e-c6dd5197f0bb 9780415365390;9780415494113;9781134215850;9781134215843;9781134215805 open access
|
| description |
In contemporary non-mainstream economic debate, it is widely thought that the functioning of a market economy needs a set of rules (i.e. institutions) which bind agents in their behaviour, allowing efficient outcomes. This idea is contrary to the General Equilibrium Model (GEM) where markets are pictured as working in an institutional vacuum and where social and historical variables play no role. However, in more recent times, a large group of economists have begun to insert social and moral variables into standard models based on the rational choice paradigm, following the increasing interest – on the part of firms – in the possible positive effects of adopting ethical codes. In this key new text Guglielmo Davanzati studies this burgeoning view that ethics and economics can be compatible. Does ‘morality’ affect income distribution? And, if so, what are the effects of the widespread adoption of ethical codes on the functioning of the labour market? Central to Davanzati’s efforts is the thesis that the roots of these new developments can be traced back to the pioneering work of Thorstein Veblen and John Bates Clark. Utilizing their contrasting works, Davanzati’s text illuminates the propagation of ethical codes within the two opposing frameworks i.e. the neoclassical and the institutional. Davanzati’s important book will be an invaluable reference for readers interested in history of economic thought, economics and moral philosophy.
|
