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Economic Analysis, Moral Philosophy, and Public Policy 3rd Edition

by Daniel Hausman (Author)
4.6 4.6 out of 5 stars 23 ratings
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This book shows through argument and numerous policy-related examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral philosophy together can inform public policy. Part I explores the idea of rationality and its connections to ethics, arguing that when they defend their formal model of rationality, most economists implicitly espouse contestable moral principles. Part II addresses the nature and measurement of welfare, utilitarianism and cost-benefit analysis. Part III discusses freedom, rights, equality, and justice - moral notions that are relevant to evaluating policies, but which have played little if any role in conventional welfare economics. Finally, Part IV explores work in social choice theory and game theory that is relevant to moral decision making. Each chapter includes recommended reading and discussion questions.
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  1. ISBN-10
    9781316610886
  2. ISBN-13
    978-1316610886
  3. Edition
    3rd
  4. Publisher
    Cambridge University Press
  5. Publication date
    December 22, 2016
  6. Language
    English
  7. Dimensions
    6 x 0.95 x 9 inches
  8. Print length
    418 pages
  9. See all details
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Editorial Reviews

Review

'The new edition of the book by Hausman, McPherson, and Satz is a rich and needed reading of economic analysis from the viewpoint of moral philosophy. Economists, if they reflect on these issues at all, think of their work as akin to physics; we find the pre-existing laws which govern the economic world. They can be considered simply as factual relations interesting in their own right; they can be used, as electricity, to serve human ends. What the authors demonstrate by detailed examination is that the analysis itself is shot through with normative and philosophical considerations. Any thoughtful reader will find his or her presuppositions challenged.' Kenneth J. Arrow, Stanford University, California, and Winner of the 1972 Nobel Prize in Economic Sciences

'It is a tragedy that mainstream economists have mostly lost touch with philosophy, and with the ethical basis for what they do. This book is the perfect way to make repairs and to catch up. It should be read by all economists, and required reading for those who make policy recommendations.' Sir Angus Deaton, FBA, Princeton University, Fellow of the Royal Society of Edinburgh, and Winner of the 2015 Nobel Prize in Economic Sciences

This is an indispensable guide to the intersection of economics and philosophy: clear, rigorous and myth-busting. But it is much more than a guide. For it not only analyses the relevant debates but develops their arguments. It is a work of scholarship: a major contribution to both disciplines.' Sir Julian Le Grand, London School of Economics

'Economic Analysis, Moral Philosophy, and Public Policy offers a comprehensive review of the intersections of moral philosophy with economics. The authors expertly combine accessibility with sophistication in analyzing topics ranging from foundational issues of welfare economics, rationality, game theory, and distributive justice to public policy problems such as pollution, school vouchers, health care, and unemployment. This is a superb book.' Elizabeth Anderson, University of Michigan, Ann Arbor

Book Description

This book shows how careful attention to moral reasoning can enrich economic understanding and clarify the importance and the limits of an economic analysis of policy problems.

Product details

  • ASIN ‏ : ‎ 1316610888
  • Publisher ‏ : ‎ Cambridge University Press; 3rd edition (December 22, 2016)
  • Language ‏ : ‎ English
  • Paperback ‏ : ‎ 418 pages
  • ISBN-10 ‏ : ‎ 9781316610886
  • ISBN-13 ‏ : ‎ 978-1316610886
  • Item Weight ‏ : ‎ 1.28 pounds
  • Dimensions ‏ : ‎ 6 x 0.95 x 9 inches
  • Customer Reviews:
    4.6 4.6 out of 5 stars 23 ratings

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Top reviews from the United States

  • TEFL Teacher
    3.0 out of 5 stars By academics for academics
    Reviewed in the United States on July 15, 2019
    Verified Purchase
    Most of the references in this book are to academics writing in recent decades, thus reflecting the growth of PPE as an academic discipline but increasingly diverging from real-world application to public policy.
    Many of the newer models presented in this book are interesting brain twisters, but far removed from application in public policy: though examples are given they are constructed examples - indeed it's hard to see how some of these models could ever be applied to real world cases of public policy.
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  • Diego garrido escartin
    5.0 out of 5 stars Excelente
    Reviewed in Mexico on July 5, 2023
    Verified Purchase
    Si buscan un libro que les introduzca a la filosofia de la economía este es el libro que necesitan. Toca los temas originales de filosofía moral (pues Adam Smith lo era) y de allí lo lleva al campo práctico con las políticas públicas.
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  • Frederico Figueiredo Nascimento de Sousa
    5.0 out of 5 stars Comprehensive analysis
    Reviewed in Germany on April 23, 2019
    Verified Purchase
    Enlightening
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