Edited by Betsy Jane Clary, Wilfred Dolfsma & Deborah M. Figart
Much existing economic theory overlooks ethics. Rather than situating the market and values at separate extremes of a continuum, Ethics and the Market contends that the two are necessarily and intimately related. This volume brings together some of the best work in the social economics tradition, with strong contributions and pedagogy, and a cross-national blend of economics, philosophy, and policy. The contributors embed the economic within the social, rather than viewing 'the economy' and 'society' as separable spheres of life activity, and in so doing, three key themes are illuminated, corresponding to the volume's tripartite structure:
- Morality and Markets
- Redefining the Boundaries of Economics
- Social Economics in Transition.
Ethics and the Market illuminates the diverse and dynamic theoretical approaches that are employed in social economics, reflecting on their continuously evolving relationship with neoclassical economics. Taking an innovative approach, this integrative book challenges traditional ways of thinking, and will prove vital reading for students and academics in the fields of Economics, Sociology, Gender Studies, and Public Policy.
"The book contains some important contributions on the economic analysis of the broad range of what are commonly perceived as ‘‘non-market’’ activities and values, thus justifying the first part of its title, Ethics and the Market. However, in many ways the second part of the book’s title, Insights from Social Economics, is more illustrative of its contents as the book is primarily a showcase of recent contributions to social economics. Some of the papers directly address the question of the interplay between ethics and markets – and I believe these will be of the greatest interest to feminist economists – but several others are less obviously related to this issue. [...] the reader was left with the task of interpreting how social economics generally (or typically) approaches the analysis of the relationship between ethics and markets. [...] the chapters in the volume did not have another logical theme tying them together. The chapters are all obviously high-quality pieces on social economics, but they do not clearly relate to a particular topic area within this relatively large field. [...] readers looking for a detailed discussion of ethics, and of the relationships between ethics and the market, are likely to be disappointed by the volume."
About the Editors
At the moment of publication, Betsy Jane Clary was Professor of Economics at the College of Charleston in South Carolina, USA.Wilfred Dolfsma - both an economist and philosopher - was affiliated with Erasmus University Rotterdam and Maastricht University, the Netherlands. Deborah M. Figart was Dean of Graduate Studies at The Richard Stockton College of New Jersey, USA.
Table of Contents
- Introduction
Part 1: Morality and Markets
- The Moral Embeddedness of Markets
- Creative Destruction and Community
- Borrowing Alone: The Theory and Policy Implications of the Commodification of Finance
- Teaching the Ethical Foundations of Economics: The Principles Course
Part 2: Redefining the Boundaries of Economics
- The Normative Significance of the Individual in Economics
- The Impact of Identity on Economics
- The Relationship between Consumption and Production: Conceptualizing Well-Being Inside the Household
- Social Economy as Social Science and Practice: Historical Perspectives on France
- France and Québec: Progressive Alternatives Embodied in Different 'Social Economy' Traditions
Part 3: Social Economies in Transition
- Accounting for Societal Externalities
- Ethnicity, Democracy and Economic Development: A Pluralist Approach
- A Gender-Aware Approach to International Finance
- Social Capital and the Capability Approach: A Social Economic Theory