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"This book calls attention to the social dimension of economics and stresses the need for an ethical yardstick which can only be provided by an interdisciplinary approach to the economy -- socio-economics. Current thought claims to account for ethics by portraying economics as both positive and normative. The positive aspect of economics is based on observable fact. This is typified by the neoclassical school, which takes as its main premise the hypothesis of individual economic rationality resulting in economic decisions based on efficient market processes. The normative aspect of economics involves value judgements. Economic theory acknowledges that economic agents are free to express value judgements, and if one point of view is to prevail, it can only be the majority view based on an equitable democratic process. Accordingly, strict application of the principles of the market economy and political democracy should eliminate the need for a separate ethical approach to economics. Despite this conclusion, recent years have witnessed the need to introduce ethical considerations into economics. For one, the distinction between the normative and positive aspects of economics and their linking with politics and economics, respectively, are gross oversimplifications. In addition, numerous market failures make it difficult to accept efficient markets as the determinant of all economic decisions. Finally, democratic processes are hard to maintain due to society's inability to develop a sense of solidarity. This book provides the `ethical yardstick' necessary in analyzing economic decisions, institutions and policies discussed in relation with environment protection."
"This book is intended as a warning against the kind of hard-core liberalism which blames state intervention for the disappointing results achieved in matters of macroeconomic, competition and social welfare policy. In calling attention to the social dimension of economics, the book stresses the need for an ethical yardstick which can only be pro vided by an interdisciplinary approach to the economy. One current school of thought claims to have bridged the gap by por traying economics as both positive and normative. However, this inter pretation is inadequate. The positive aspect of economics, reflecting an approach common in the natural sciences, is based on observable facts. It highlights causal relationships and seeks to analyse economic mechanisms on the basis of available information. This has led to an emphasis on purely deductive methods, which form the basis for many of the conclusions in main stream economics. This current of thought is typified by the neoclassical school, which takes as its main premise the much-disputed hypothesis of economic rationality. Human behaviour is deemed to be rational when consumers maximize their satisfaction and producers their profits, sub ject to the constraints of income and production costs respectively. Opt imal strategies for both consumers and producers can best be determined by the mechanism of market forces."

genre

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"Lehrbuch"
"Electronic books"

name

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"Socio-Economics: An Interdisciplinary Approach Ethics, Institutions, and Markets"
"Socio-economics : an interdisciplinary approach ; ethics, institutions and markets"
"Plaidoyer pour une economie sociale"
"Sozioökonomie : für eine ethische Erweiterung der wirtschaftspolitischen Diskussion"
"Plaidoyer pour une économie sociale"
"Socio-economics : An interdisciplinary approach. Ethics, institutions, and markets"
"Socio-economics : an interdisciplinary approach: ethics, institutions and markets"
"Plaidoyer pour une ećonomie sociale"
"Socio-economics : an interdisciplinary approach : ethics, institutions, and markets"
"Socio-economics: an interdisciplinary approach : ethics, institutions, and markets"
"Socio-economics : an interdisciplinary approach : ethics, institutions and markets"

workExample

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