The moral layer of contemporary economics: A virtue-ethics perspective

Abstract

This paper questions whether the contemporary science of economics and its recommendations are built on sound moral foundations as assessed from a virtue-based definition of ethical behaviour. We argue that the model of man underlying economic analyses can correspond to the model of a virtuous person, and that economics, by advocating reasoned choice and careful resource utilization, makes a positive contribution to the moral development of individuals.Economics; Efficiency; Rationality; Tastes; Virtue Ethics