Ethics and the Market: Insights from Social Economics (Routledge Advances in Social Economics)

Comprising cutting-edge work on the state of social economics today, this theoretically diverse book includes strong emphasis on the role of ethics, morality, identity, and society in economic theorizing. Much existing economic theory overlooks ethics. Rather than situating the market and values at separate extremes of a continuum, Ethics and the Market contends that the two are necessarily and intimately related. This volume brings together some of the best work in the social economics tradition, with strong contributions and pedagogy, and a cross-national blend of economics, philosophy, and policy. The contributors embed the economic within the social, rather than viewing 'the economy' and 'society' as separable spheres of life activity, and in so doing, three key themes are illuminated, corresponding to the volume's tripartite structure: Morality and Markets Redefining the Boundaries of Economics Social Economics in Transition. Ethics and the Market illuminates the diverse and dynamic theoretical approaches that are employed in social economics, reflecting on their continuously evolving relationship with neoclassical economics. Taking an innovative approach, this integrative book challenges traditional ways of thinking, and will prove vital reading for students and academics in the fields of Economics, Sociology, Gender Studies, and Public Policy. Book Cover......Page 1 Half-Title......Page 2 Series-Title......Page 3 Title......Page 4 Copyright......Page 5 Contents......Page 6 Illustrations......Page 8 Contributors......Page 9 Preface......Page 15 Acknowledgements......Page 17 Abbreviations......Page 19 1. Introduction......Page 20 Part I Morality and markets......Page 28 2. The moral embeddedness of markets......Page 30 3. Creative destruction and community......Page 45 4. Borrowing alone: The theory and policy implications of the commodification of finance......Page 60 5. Teaching the ethical foundations of economics: The principles course......Page 74 Part II Redefining the boundaries of economics......Page 86 6. The normative significance of the individual in economics: Freedom, dignity, and human rights......Page 88 7. The impact of identity on economics......Page 103 8. The relationship between consumption and production: Conceptualizing well-being inside the household......Page 117 9. Social economy as social science and practice: Historical perspectives on France......Page 131 10. France and Quebec: The progressive visions embodied in different social economy traditions......Page 145 Part III Social economies in transition......Page 160 11 Accounting for societal externalities......Page 162 12. Ethnicity, democracy and economic development: A pluralist approach......Page 180 13. A gender-aware approach to international finance......Page 194 14. Social capital and the capability approach: A social economic theory......Page 210 Index......Page 223 1. Introduction / Betsy Jane Clary, Wilfred Dolfsma And Deborah M. Figart -- 2. The Moral Embeddedness Of Markets / Jens Beckert -- 3. Creative Destruction And Community / Jon D. Wisman -- 4. Borrowing Alone : The Theory And Policy Implications Of The Commodification Of Finance / Greg P. Hannsgen -- 5. Teaching The Ethical Foundations Of Economics : The Principles Course / Jonathan B. Wight -- 6. The Normative Significance Of The Individual In Economics : Freedom, Dignity, And Human Rights / John B. Davis -- 7. The Impact Of Identity On Economics / Miriam Teschl -- 8. The Relationship Between Consumption And Production : Conceptualizing Well-being Inside The Household / Elizabeth Oughton And Jane Wheelock -- 9. Social Economy As Social Science And Practice : Historical Perspectives On France / Daniele Demoustier And Damien Rousseliere -- 10. France And Quebec : The Progressive Visions Embodied In Different Social Economy Traditions / Carole Biewener -- 11. Accounting For Societal Externalities / Laura Mccann -- 12. Ethnicity, Democracy And Economic Development : A Pluralist Approach / Manuel Branco -- 13. A Gender-aware Approach To International Finance / Tonia L. Warnecke -- 14. Social Capital And The Capability Approach : A Social Economic Theory / Alexandre L. Bertin And Nicolas Sirven. Edited By Betsy Jane Clary, Wilfred Dolfsma, And Deborah M. Figart. Includes Bibliographical References And Index. This volume brings together some of the best work in the social economics tradition, with contributions on the social economy, social capital, identity, ethnicity and development, the household, externalities, international finance, capability, and pedagogy. Proceeding from an examination of the moral implications of markets, the book goes on to explore such themes as the institutional arrangements of social economies, individual and household decision-making, and economic development in a global context Comprising cutting-edge work on the state of social economics today, this text includes strong emphasis on the role of ethics, morality, identity, and society in economic theorising. The contributors place the economic within the social, rather than viewing the economy and society as separate spheres The views and arguments presented in these papers provide a comprehensive review of the ethical problems raised by market societies and their impact on the quality of our lives.