On Ethics and Economics - (Royer Lectures) by Amartya K Sen (Paperback)

Book Synopsis

In this elegant critique, Amartya Sen argues that welfare economics can be enriched by paying more explicit attention to ethics, and that modern ethical studies can also benefit from a closer contact with economies. He argues further that even predictive and descriptive economics can be helped by making more room for welfare-economic considerations in the explanation of behaviour.

From the Back Cover

In this elegant critique, Amartya Sen argues that a closer contact between welfare economics and modern ethical studies can substantively enrich and benefit both disciplines. He argues further that even predictive and descriptive economics can be helped by making more room for welfare economic considerations in the explanation of behavior, especially in production relations, which inevitably involve problems of cooperation as well as conflict. The concept of rationality of behaviour is thoroughly proved in this context, with particular attention paid to social interdependence and internal tensions within consequentialist reasoning. In developing his general theme, Sen also investigates some related matters; the misinterpretation of Adam Smith's views on the role of self-seeking; the plausibility of an objectivist approach that attaches importance to subjective evaluations; and the admissibility of incompleteness and of 'inconsistencies' in the form of overcompleteness in rational evaluation. Sen also explores the role and importance of freedom in assessing well-being as well as choice. Sen's contributions to economics and ethics have greatly strengthened the theoretical bases of both disciplines; this appraisal of the connections between the two subjects and their possible development will be welcomed for the clarity and depth it contributes to the debate. These essays are based on the Royer Lectures delivered at the University of California, Berkeley.

Review Quotes

"Sen is one of the true pioneers in modern economics. He has, in effect, created a new branch of the subject... which might one day change mainstream economics beyond recognition." The Economist

"Professor Sen's thoughts on both philosophy and economics are not only highly original but they are ... presented with a compelling and consummate literary skill." Times Higher Education Supplement

"Sen has never acknowledged a boundary between economics and ethics. He brings philosophical arguments to bear where they are needed in economics, and combines them skillfully with formal analysis." London Review of Books

About the Author

Amartya Sen is Lamont University Professor at Harvard University. He is affiliated with the Departments of Economics and Philosophy.