Law Economics And Morality
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Law Economics And Morality
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Author : Eyal Zamir
language : en
Publisher: Oxford University Press
Release Date : 2010-02-24
Law Economics And Morality written by Eyal Zamir and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-02-24 with Law categories.
Law, Economics, and Morality examines the possibility of combining economic methodology and deontological morality through explicit and direct incorporation of moral constraints into economic models. Economic analysis of law is a powerful analytical methodology. However, as a purely consequentialist approach, which determines the desirability of acts and rules solely by assessing the goodness of their outcomes, standard cost-benefit analysis (CBA) is normatively objectionable. Moderate deontology prioritizes such values as autonomy, basic liberties, truth-telling, and promise-keeping over the promotion of good outcomes. It holds that there are constraints on promoting the good. Such constraints may be overridden only if enough good (or bad) is at stake. While moderate deontology conforms to prevailing moral intuitions and legal doctrines, it is arguably lacking in methodological rigor and precision. Eyal Zamir and Barak Medina argue that the normative flaws of economic analysis can be rectified without relinquishing its methodological advantages and that moral constraints can be formalized so as to make their analysis more rigorous. They discuss various substantive and methodological choices involved in modeling deontological constraints. Zamir and Medina propose to determine the permissibility of any act or rule infringing a deontological constraint by means of mathematical threshold functions. Law, Economics, and Morality presents the general structure of threshold functions, analyzes their elements and addresses possible objections to this proposal. It then illustrates the implementation of constrained CBA in several legal fields, including contract law, freedom of speech, antidiscrimination law, the fight against terrorism, and legal paternalism.
Law Economics And Morality
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Author : Eyal Zamir
language : en
Publisher:
Release Date : 2016
Law Economics And Morality written by Eyal Zamir and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
In our book, Law, Economics, and Morality (OUP, 2010), we proposed to combine economic methodology and deontological morality through explicit incorporation of moral constraints into economic models. We argued that the normative flaws of economic analysis can be rectified without relinquishing its methodological advantages and that moral constraints can be formalized so as to make their analysis more rigorous. We then illustrated the implementation of constrained CBA in several legal fields, including contract law, freedom of speech, the fight against terrorism, and legal paternalism.In this paper, we respond to critical reviews of the book written by Professors Larry Alexander, Ariel Porat, and Avihay Dorfman. Among other things, we clarify the scope and goals of the book, elucidate the relationships between deontology and consequentialism, discuss the relationships between deontological constraints and options, and address various issues in contract law and remedies.
Markets Morals And The Law
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Author : Jules L. Coleman
language : en
Publisher: Oxford University Press, USA
Release Date : 1998
Markets Morals And The Law written by Jules L. Coleman and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.
This collection of essays by one of America's leading legal theorists show how traditional problems of philosophy can be understood more clearly when considered in terms of law economics and political science.
Economic Morality And Jewish Law
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Author : Aaron Levine (1946-2011)
language : en
Publisher: Oxford University Press
Release Date : 2012-07-16
Economic Morality And Jewish Law written by Aaron Levine (1946-2011) and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-07-16 with Religion categories.
Economic Morality and Jewish Law compares the way in which welfare economics and Jewish law determine the propriety of an economic action, whether by a private citizen or the government. Espousing what philosophers would call a consequentialist ethical system, welfare economics evaluates the worthiness of an economic action based on whether the action would increase the wealth of society in the long run. In sharp contrast, Jewish law espouses a deontological system of ethics. Within this ethical system, the determination of the propriety of an action is entirely a matter of discovering the applicable rule in Judaism's code of ethics. This volume explores a variety of issues implicating morality for both individual commercial activity and economic public policy. Issues examined include price controls, the living wage, the lemons problem, short selling, and Ronald Coase's seminal theories on negative externalities. To provide an analytic framework for the study of these issues, the work first delineates the normative theories behind the concept of economic morality for welfare economics and Jewish law, and presents a case study illustrating the deontological nature of Jewish law. The book introduces what for many readers will be a new perspective on familiar economic issues. Despite the very different approaches that welfare economics and Jewish law take in evaluating the worthiness of an economic action, the author reveals a remarkable symmetry between the two systems in their ultimate prescriptions for certain economic issues.
Beyond Market And Government
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Author : Yining Li
language : en
Publisher: Springer
Release Date : 2014-09-16
Beyond Market And Government written by Yining Li and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-16 with Political Science categories.
This book explores how moral factors exert influence on economy from an economic and philosophical point of view. The book takes an in-depth look at topics such as efficiency and coordination, fairness and identification, law and self-discipline and the third distribution, which have long been the focus of public attention. As expounded in this book, in places where regulation by market or government does work, there are still some gaps that the two modes of regulation cannot reach owing to the limitations of their influence. Each does compensate for the other’s limitations, but only up to a point. The gap can only be filled by custom and morality. In this sense, regulation by custom and morality can be viewed as a regulatory mode beyond market and government. In a market economy, market regulation of resource allocation as a basic mode can be called “primary regulation” and government regulation, as a high-level mode, “secondary regulation.” Regulation that relies on the force of custom and morality, a regulation beyond market and government, can be called “the third regulation.” A variety of causes can give rise to market failure or government paralysis, rendering regulation by market or government ineffective or extremely limited. But even in such circumstances, custom and morality still exist and continue working as normal. What affects resource allocation, socio-economic operations and living standards is not just the power of market or government, but that of custom and morality. This book is one of the three published writings that best reflect Professor Li Yining’s academic standpoint. Although written in economic language, the book also incorporates sociology, history and philosophy and will help the reader make better judgment calls in the face of changing market conditions and economic policies.
The Oxford Handbook Of Ethics And Economics
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Author : Mark D. White
language : en
Publisher: Oxford University Press, USA
Release Date : 2019
The Oxford Handbook Of Ethics And Economics written by Mark D. White and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Business & Economics categories.
Economics and ethics are both valuable tools for analyzing the behavior and actions of human beings and institutions. Adam Smith, the father of modern economics, considered them two sides of the same coin, but since economics was formalized and mathematicised in the late 1800s and early 1900s, the fields have largely followed separate paths. The Oxford Handbook of Ethics and Economics provides a timely and thorough survey of the various ways ethics can, does, and should inform economic theory and practice. The first part of the book, Foundations, explores how the most prominent schools of moral philosophy relate to economics; asks how morals relevant to economic behavior may have evolved; and explains how various approaches to economics incorporate ethics into their work. The second part, Applications, looks at the ethics of commerce, finance, and markets; uncovers the moral dilemmas involved with making decisions regarding social welfare, risk, and harm to others; and explores how ethics is relevant to major topics within economics, such as health care and the environment. With esteemed contributors from economics and philosophy, The Oxford Handbook of Ethics and Economics is a resource for scholars in both disciplines and those in related fields. It highlights the close relationship between ethics and economics in the past while and lays a foundation for further integration going forward.
Theoretical Foundations Of Law And Economics
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Author : Mark D. White
language : en
Publisher: Cambridge University Press
Release Date : 2009
Theoretical Foundations Of Law And Economics written by Mark D. White and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
A book-length examination of the methodology and philosophy of law and economics.
Law Psychology And Morality
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Author : Eyal Zamir
language : en
Publisher: Oxford University Press, USA
Release Date : 2015
Law Psychology And Morality written by Eyal Zamir and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Law categories.
Prospect theory posits that people do not perceive outcomes as final states of wealth or welfare, but rather as gains or losses in relation to some reference point. People are generally loss averse: the disutility generated by a loss is greater than the utility produced by a commensurate gain. Loss aversion is related to such phenomena as the status quo and omission biases, the endowment effect, and escalation of commitment. The book systematically analyzes the relationships between loss aversion and the law.
Profits And Morality
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Author : Robin Cowan
language : en
Publisher: University of Chicago Press
Release Date : 1995
Profits And Morality written by Robin Cowan and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Business & Economics categories.
Are profits morally justifiable? While neoclassical economists have traditionally endorsed the pursuit of profits, many moral philosophers have challenged profit making on a variety of ethical grounds. Through the lenses of economics, philosophy, and law, these six essays explore the morality of profits from libertarian, utilitarian, and consequentialist perspectives. Presenting arguments for and against the morality of profit making, the contributors examine the nature of profits and which ethical theories can support them. Two essays address how profits are made: one explores entrepreneurship as a legitimate source of profit, while another argues that recent advances in welfare economics weaken the case for the morality of profits. The other chapters focus on ethical theory, covering the right to profits from economic rent; the morality of how profits are used—those directed toward library or university endowments, for example, are considered morally acceptable—and whether or not profits are deserved.
Adam Smith S Moral Philosophy
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Author : Jerry Evensky
language : en
Publisher: Cambridge University Press
Release Date : 2005-10-03
Adam Smith S Moral Philosophy written by Jerry Evensky and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-10-03 with Business & Economics categories.
Adam Smith is the best known among economists for his book, The Wealth of Nations, often viewed as the keystone of modern economic thought. For many he has become associated with a quasi-libertarian laissez-faire philosophy. Others, often heterodox economists and social philosophers, on the contrary, focus on Smith's Theory of Moral Sentiments, and explore his moral theory. There has been a long debate about the relationship or lack thereof between these, his two great works. This work treats these dimensions of Smith's work as elements in a seamless moral philosophical vision, demonstrating the integrated nature of these works and Smith's other writings. This book weaves Smith into a constructive critique of modern economic analysis (engaging along the way the work of Nobel Laureates Gary Becker, Amarty Sen, Douglass North, and James Buchanan) and builds bridges between that discourse and the other social sciences.