Economic Analysis, Moral Philosophy, and Public Policy

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9781316610886: Economic Analysis, Moral Philosophy, and Public Policy

This book shows through argument and numerous policy-related 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 the idea of rationality and its connections to ethics, arguing that when they defend their formal model of rationality, most economists implicitly espouse contestable moral principles. Part II addresses the nature and measurement of welfare, utilitarianism and cost-benefit analysis. Part III discusses freedom, rights, equality, and justice - moral notions that are relevant to evaluating policies, but which have played little if any role in conventional welfare economics. Finally, Part IV explores work in social choice theory and game theory that is relevant to moral decision making. Each chapter includes recommended reading and discussion questions.

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Book Description:

This third edition of an influential text shows 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. Extensively updated, with numerous examples, it addresses contemporary topics such as behavioral economics and growing income and wealth inequality.

About the Author:

Daniel M. Hausman is the Herbert A. Simon and Hilldale Professor of Philosophy at the University of Wisconsin, Madison. A founding editor of the journal Economics and Philosophy (with Michael McPherson), his research has centered on epistemological, metaphysical, and ethical issues at the boundaries between economics and philosophy. He is the author of Capital, Profits, and Prices (1981), The Inexact and Separate Science of Economics (1992), Causal Asymmetries (1998), Preference, Value, Choice, and Welfare (2012), and Valuing Health: Well-Being, Freedom, and Suffering (2015).

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Book Description CAMBRIDGE UNIVERSITY PRESS, United Kingdom, 2016. Paperback. Book Condition: New. 3rd Revised edition. Language: English . Brand New Book. This book shows through argument and numerous policy-related 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 the idea of rationality and its connections to ethics, arguing that when they defend their formal model of rationality, most economists implicitly espouse contestable moral principles. Part II addresses the nature and measurement of welfare, utilitarianism and cost-benefit analysis. Part III discusses freedom, rights, equality, and justice - moral notions that are relevant to evaluating policies, but which have played little if any role in conventional welfare economics. Finally, Part IV explores work in social choice theory and game theory that is relevant to moral decision making. Each chapter includes recommended reading and discussion questions. Bookseller Inventory # AAA9781316610886

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Book Description CAMBRIDGE UNIVERSITY PRESS, United Kingdom, 2016. Paperback. Book Condition: New. 3rd Revised edition. Language: English . Brand New Book. This book shows through argument and numerous policy-related 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 the idea of rationality and its connections to ethics, arguing that when they defend their formal model of rationality, most economists implicitly espouse contestable moral principles. Part II addresses the nature and measurement of welfare, utilitarianism and cost-benefit analysis. Part III discusses freedom, rights, equality, and justice - moral notions that are relevant to evaluating policies, but which have played little if any role in conventional welfare economics. Finally, Part IV explores work in social choice theory and game theory that is relevant to moral decision making. Each chapter includes recommended reading and discussion questions. Bookseller Inventory # AAA9781316610886

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