May 2, 2018

Economics and morality

Economists cannot avoid grappling with moral questions, says … The Economist:

To be useful, economists need to learn to understand and evaluate moral arguments rather than dismiss them.

Many economists will find that a dismal prospect. Calculations of social utility are tidier, and the profession has fallen out of the habit of moral reasoning. But those who wish to say what society should be doing cannot dodge questions of values.

Read more here.

See also The Economist’s Oath by Econ4’s George DeMartino.