Morality and Value Neutrality in Economics: A Dualist View

Li, Cheng (2016): Morality and Value Neutrality in Economics: A Dualist View.

Abstract

In this paper, we propose a dualist view that economics exhibits the properties of both moral science and value-neutral approach, regardless of the normative-positive distinction. Our argumentation is derived from the understanding that, analytically, economics is a rational choice theory, broadly defined. As implied by this claim, on the one hand, economics behaves as a moral science for two main reasons: all economic theories and policy discussions are necessarily based on some moral premises about means-end considerations; economics as a method of analysis can be and has been applied to explanations of a wide range of moral phenomena. On the other hand, since economists — without being informed of some ethical presuppositions of higher order — cannot deal with the comparisons among different value criteria, their approach remains neutral regarding judgmental positions, which should be given a priori to make economic enquiries possible. Ultimately, by this view we reconcile morality with value neutrality, without slicing the discipline into two branches.

• Item Type: MPRA Paper
• Language: English
• Keywords: Methodology; Rationality; Moral science; Value-neutral approach; Normative-positive distinction
• Subjects: A - General Economics and Teaching > A1 - General Economics > A11 - Role of Economics ; Role of Economists ; Market for Economists; B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology; D - Microeconomics > D6 - Welfare Economics > D60 - General

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