Ethics and Economics

Marc Fleurbaey

doi:10.1057/978-1-349-95189-5_2559

Ethics and Economics

Marc Fleurbaey

Princeton School of Public and International Affairs

Research output: Chapter in Book/Report/Conference proceeding › Chapter

Abstract

In recent decades, an important corpus of theories in normative economics (social choice theory, the theory of fair allocation, and inequality and poverty measurement in particular) has developed in which formal analytical tools of economic theory are mobilized in order to relate basic principles of social ethics to precise criteria for the evaluation of social states of affairs. The efficacy of arguments based on veil-of-ignorance devices has been questioned and the scope of impossibility theorems has been circumscribed, leaving the stage to a variety of constructive proposals in several fields of application (voting, resource allocation, public policy, social indicators).

Original language	English (US)
Title of host publication	The New Palgrave Dictionary of Economics, Third Edition
Publisher	Palgrave Macmillan
Pages	3905-3916
Number of pages	12
ISBN (Electronic)	9781349951895
ISBN (Print)	9781349951888
DOIs	https://doi.org/10.1057/978-1-349-95189-5_2559
State	Published - Jan 1 2018

All Science Journal Classification (ASJC) codes

General Economics, Econometrics and Finance
General Business, Management and Accounting

Keywords

Arrow, K.
Axiomatic bargaining
Axiomatic theory of indices
Bargaining
Bergson-Samuelson social welfare function
Borda rule
Business ethics
Capability sets
Coalition formation
Competitive equilibrium
Consequentialism
Consumer sovereignty
Cooperative games
Corporate social responsibility
Cost-benefit analysis
Cost-surplus sharing
Dominance criteria
Dworkin, R.
Egalitarian equivalence
Egalitarianism
Equality of capabilities
Equality of opportunity
Equality of resources
Ethics and economics
Fair allocation
Gini coefficient
Harsanyi, J.
Hypothetical insurance (Dworkin)
Identity
Impartial observer (J. Harsanyi)
Impartiality
Impossibility theorem
Income distribution
Indexing problem
Inequality (measurement)
Inequality aversion
Interest aggregation
Interpersonal comparisons of utility
Intertemporal preferences
Judgements vs interests
Liberal paradoxes
Libertarianism
Lorenz curve
Marginal rate of substitution
Maximin principle
Multidimensional inequality
Nash, J.
New Welfare Economics
Normative economics
Objective advantage
Ordinal non-comparable (ONC) preferences
Original position (Rawls)
Otherregarding preferences
Pareto principle
Positive economics
Potential Pareto improvements
Poverty measurement
Preferences
Rawls, J.
Responsibility
Rights
Risk aversion
Samuelson, P.
Sen, A.
Shapley, L.
Social choice
Social contract
Social justice
Social welfare functions
Subjective utility
Tastes
Utility functions
Utility possibility sets
Value judgements
Veil of ignorance (Rawls)
Well-being

Access to Document

10.1057/978-1-349-95189-5_2559

Cite this

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abstract = "In recent decades, an important corpus of theories in normative economics (social choice theory, the theory of fair allocation, and inequality and poverty measurement in particular) has developed in which formal analytical tools of economic theory are mobilized in order to relate basic principles of social ethics to precise criteria for the evaluation of social states of affairs. The efficacy of arguments based on veil-of-ignorance devices has been questioned and the scope of impossibility theorems has been circumscribed, leaving the stage to a variety of constructive proposals in several fields of application (voting, resource allocation, public policy, social indicators).",

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N2 - In recent decades, an important corpus of theories in normative economics (social choice theory, the theory of fair allocation, and inequality and poverty measurement in particular) has developed in which formal analytical tools of economic theory are mobilized in order to relate basic principles of social ethics to precise criteria for the evaluation of social states of affairs. The efficacy of arguments based on veil-of-ignorance devices has been questioned and the scope of impossibility theorems has been circumscribed, leaving the stage to a variety of constructive proposals in several fields of application (voting, resource allocation, public policy, social indicators).

AB - In recent decades, an important corpus of theories in normative economics (social choice theory, the theory of fair allocation, and inequality and poverty measurement in particular) has developed in which formal analytical tools of economic theory are mobilized in order to relate basic principles of social ethics to precise criteria for the evaluation of social states of affairs. The efficacy of arguments based on veil-of-ignorance devices has been questioned and the scope of impossibility theorems has been circumscribed, leaving the stage to a variety of constructive proposals in several fields of application (voting, resource allocation, public policy, social indicators).

KW - Arrow, K.

KW - Axiomatic bargaining

KW - Axiomatic theory of indices

KW - Bargaining

KW - Bergson-Samuelson social welfare function

KW - Borda rule

KW - Business ethics

KW - Capability sets

KW - Coalition formation

KW - Competitive equilibrium

KW - Consequentialism

KW - Consumer sovereignty

KW - Cooperative games

KW - Corporate social responsibility

KW - Cost-benefit analysis

KW - Cost-surplus sharing

KW - Dominance criteria

KW - Dworkin, R.

KW - Egalitarian equivalence

KW - Egalitarianism

KW - Equality of capabilities

KW - Equality of opportunity

KW - Equality of resources

KW - Ethics and economics

KW - Fair allocation

KW - Gini coefficient

KW - Harsanyi, J.

KW - Hypothetical insurance (Dworkin)

KW - Identity

KW - Impartial observer (J. Harsanyi)

KW - Impartiality

KW - Impossibility theorem

KW - Income distribution

KW - Indexing problem

KW - Inequality (measurement)

KW - Inequality aversion

KW - Interest aggregation

KW - Interpersonal comparisons of utility

KW - Intertemporal preferences

KW - Judgements vs interests

KW - Liberal paradoxes

KW - Libertarianism

KW - Lorenz curve

KW - Marginal rate of substitution

KW - Maximin principle

KW - Multidimensional inequality

KW - Nash, J.

KW - New Welfare Economics

KW - Normative economics

KW - Objective advantage

KW - Ordinal non-comparable (ONC) preferences

KW - Original position (Rawls)

KW - Otherregarding preferences

KW - Pareto principle

KW - Positive economics

KW - Potential Pareto improvements

KW - Poverty measurement

KW - Preferences

KW - Rawls, J.

KW - Responsibility

KW - Rights

KW - Risk aversion

KW - Samuelson, P.

KW - Sen, A.

KW - Shapley, L.

KW - Social choice

KW - Social contract

KW - Social justice

KW - Social welfare functions

KW - Subjective utility

KW - Tastes

KW - Utility functions

KW - Utility possibility sets

KW - Value judgements

KW - Veil of ignorance (Rawls)

KW - Well-being

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M3 - Chapter

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SN - 9781349951888

SP - 3905

EP - 3916

BT - The New Palgrave Dictionary of Economics, Third Edition

PB - Palgrave Macmillan

ER -

Ethics and Economics

Abstract

All Science Journal Classification (ASJC) codes

Keywords

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