By James M. Buchanan
ISBN-10: 0806129352
ISBN-13: 9780806129358
Booklet via James M. Buchanan
Read or Download Ethics and Economic Progress PDF
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Extra info for Ethics and Economic Progress
Sample text
Standards of well-being of any person are, in part, the result of how other persons behave in an ethical or moral sense, from which it follows that some sets of ethical precepts or principles are "better" than others, if we use "better" in terms of welfare as ultimately measured by the individuals' own preferences. Page 2 Even within the limits that may be suggested by the titles mentioned above, however, my subject matter must be restricted. I surely do not propose to take on the task of evaluating all sets of ethical principles to analyze their potential economic content, whether this content may be judged positive, neutral, or negative in effect.
4 subject : Economics--Moral and ethical aspects, Work ethic, Economic development--Moral and ethical aspects. Page iii Ethics and Economic Progress By James M. Buchanan UNIVERSITY OF OKLAHOMA: NORMAN AND LONDON Page iv OTHER BOOKS BY JAMES M. BUCHANAN (with Gordon Tullock) The Calculus of Consent: Logical Foundations of Constitutional Democracy (Ann Arbor, 1962) The Limits of Liberty: Between Anarchy and Leviathan (Chicago, 1975) Freedom in Constitutional Contract (College Station, Texas, 1978) Liberty, Market, and State: Political Economy in the 1980s (Brighton, 1985) Economics: Between Predictive Science and Moral Philosophy (College Station, Texas, 1987) The Economics and the Ethics of Constitutional Order (Ann Arbor, 1991) Better than Plowing and other Personal Essays (Chicago, 1992) Library of Congress Cataloging-in-Publication Data Buchanan, James M.
Optimality, Externality, and Increasing Returns In arguing that the economic welfare of each participant in a production-exchange economy depends in a positive way on the work supply of others in the economy, I am challenging, in one sense, a fundamental theorem in neoclassical economics concerning the optimality properties of competitive market organization, even in its idealized form. As I have noted above, I do not challenge this conventional wisdom within the confines of the assumptions of resource and technological fixity.
Ethics and Economic Progress by James M. Buchanan
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