The Complex Relationship Between Ethics and Economics – II
The Problem of Interest Rates In a previous article on the blog, the relationship between ethics and economics was briefly discussed through the lens of economic development, demonstrating that the human factor is essential for understanding different economic theories on development and, therefore, involves ethical considerations. In this article, an extremely thorny issue in the […]
The Complex Relationship Between Ethics and Economics
In the 1980s, American author Kenneth Lux published a book with a title as intriguing as it is misleading: “Adam Smith’s Mistake: How A Moral Philosopher Invented Economics and Ended Morality.” Lux’s mistake was twofold; Adam Smith neither invented Economics as an autonomous science from Philosophy, nor did he end morality: what he suggested was […]