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This book analyses the relationship between economics and ethics, explaining how ethics affects individual economic behaviour and the interactions of individuals, and how ethics is important in evaluating the performance of economies. This revised edition engages with contemporary ethical issues, such as the role of greed in the financial crisis.

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This book provides an introduction to the relationship between economics and ethics, explaining why ethics enters economics, how ethics affects individual economic behaviour and the interactions of individuals, and how ethics is important in evaluating the performance of economies and of economic policies.

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Preface PART I: INTRODUCTION AND BACKGROUND Introduction Economics Without Ethics? Approaches to Ethics and Justice PART II: ETHICAL VALUES, INDIVIDUAL BEHAVIOR AND SOCIAL INTERACTIONS Individuals, Norms and Ethical Values Social Interactions and Ethical Values Markets and Ethical Values PART III: ETHICAL ISSUES FOR EVALUATING ECONOMICS AND ECONOMIC POLICY ANALYSIS The Morality of Markets and Government Intervention Individual Preferences, Efficiency and Cost-Benefit Analysis Production, Income and Growth Fairness, Distribution and Equality PART IV: APPLICATIONS AND CONCLUSION Ethics and Applied Economics Conclusion References Index

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"Within its chosen frame of reference the authors have made a substantial contribution." - Economic & Political Weekly "Dutt and Wilber provide a compact yet comprehensive introduction to economics and ethics that thoroughly engages neoclassical economics, distinguishes different approaches to ethics, and discusses such fundamental issues as justice and equality. This is an excellent book, and is highly recommended for teaching and as a resource for scholars." - John B. Davis, Marquette University and University of Amsterdam ´´This is a good and helpful introduction to the normative dimensions of economic theory and policy.´´ - Albino Barrera, Providence College ´Wilber and Dutt bring a wealth of knowledge and humanity to the task of revitalizing the art of economics. This book provides a nuanced and timely account of the importance of ethics to our understanding of economics and public policies. The reader is in thoughtful and trustworthy hands.´ - Jonathan B. Wight, Professor of Economics at the University of Richmond

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