The primary aim of the text is to introduce the reader to the relationship between economics and ethics and to the application of economic ethics in the evaluation of the market. The reader will gain insight into:

  • The ethical and methodological strategy of economics and criticism of the core assumptions that underpin the economic defence of free market operation.
  • The characteristics of different ethical theories (utilitarianism, duty and rights ethics, justice and virtue ethics) that can be used to evaluate the free market.
  • How to apply economics in conjunction with ethical theories to evaluate economic trends and policies that promote the free operation of the market and are subject to public debate.

These insights will help to develop the reasoning and analytical skills needed to criticize economic analysis as well as to apply ethical concepts to moral issues in economic policy.

chapter 1|28 pages


part |2 pages

PART I Markets and economics

chapter 2|29 pages

The theory of perfect markets

chapter 3|24 pages


chapter 4|24 pages

Self-interest and social preferences

chapter 5|23 pages

Status goods, non-satiation and happiness

chapter 6|16 pages

Economics as an inexact science

part |2 pages

PART II Markets and ethics

chapter 7|24 pages

Utilitarianism and welfare theory

chapter 8|21 pages

The ethics of duties and rights

chapter 9|31 pages

The ethics of justice

chapter 10|28 pages

Virtue ethics and care ethics

chapter 11|16 pages


part |2 pages

PART III Applications

chapter 13|19 pages

Reforms of the pension system and solidarity

chapter 14|14 pages

Cosmetic surgery, utility and freedom

chapter 15|12 pages

More economic freedom, less collective rest?

chapter 16|16 pages

Does ICT foster well-being?

chapter 17|19 pages

Ethical questions about globalization

chapter 18|15 pages

World poverty and the duty to aid

chapter 19|12 pages

Toward an economics of enough?

chapter 20|4 pages