Friday, February 4, 2011

The Moral Heart of Economics

*Continuation of my last post

Being an economics major, I was particularly drawn to this article because it addressed one of the most controversial topics in the discipline. One of the key characteristics of morally sound actions is to not impede in the maximization of the others` welfare. However economics tend to explain various ``morally unethical `` actions such as employing child laborers and polluting the environment as maximization of personal welfare. The author refers to important components of society such as taxation to develop a thesis supporting the compatibility of economics and morals.

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