Titlebook: Ethical Issues in Economics; From Altruism to Coo M. Teresa Lunati Book 1997 Palgrave Macmillan, a division of Macmillan Publishers Limited

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Introduction,particular to economic agents’ beliefs, behaviour and activity. And, as the morality of individuals influences their economic conduct and choices, their morality is also clearly relevant to socio-economic policies and outcomes.

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Ethical and Political Non-Neutrality of Neoclassical Economics,elf-interested economic beings. An important, additional assumption normally made in the economic literature is that of ‘Nash conjectures’, that is each individual, when deciding his own utility-maximizing action, takes the behaviour of everyone else as given.

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Ethics, Politics and Economics,economists in particular. But to affirm, in addition, the need to re-establish the supremacy of ethics over politics, as well as of ethics over economics, is certainly akin to . to most political and economic scholars. Yet, this is precisely what is argued here, and indeed as a compelling need.

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Efficiency and Equity: A Short-Run, Short-Sighted Trade-Off,and social and political) issue. Indeed, it is a key issue not only for individuals’ present welfare, as it affects economic activity and performance, but also for economic growth and hence for individuals’ future welfare.

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Altruism, Rationality and Morality,ient resource allocations and inefficient outcomes — as in the ‘Samaritan’s dilemma’ context, with the possible (or likely) exploitation of, or ‘free-riding’ on, the altruism of others by selfish individuals; and/or by modelling altruism in a ‘non-altruistic’ manner.

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