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Ethical Dimensions of the Economy

Making Use of Hegel and the Concepts of Public and Merit Goods

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  • © 2008

Overview

  • Not purely philosophical but enters into a dialogue with economists
  • Interdisciplinary approach
  • Includes supplementary material: sn.pub/extras

Part of the book series: Ethical Economy (SEEP)

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Table of contents (12 chapters)

  1. Introduction

  2. Normative Reflections on the Economy

  3. Applications

    1. Reflections on the Political Economy in the US

    2. Challenges in Transforming Command Economies

    3. Philosophy of Economics and Catholic Social Thought

Keywords

About this book

Overview This book is a philosophical reflection (using mainly Hegel, in addition to 1 Adam Smith, Kant, Marx and Catholic Social Thought) about the soc- political dimension of economics. In it I both agree and disagree with the slogan that “the least government is the best government. ” I agree with the slogan, in particular as it applies to the economic domain. Adam Smith taught us that rational and self-interested individuals, left by themselves, create a more efficient and reliable economic system than one in which the government has a heavy role as was the case in his time with the merc- tile system (Smith, 14, 651). Ludwig von Mises demonstrated the same idea for the communist command economy (Hayek 1935, 87–130). I d- agree with the above mentioned slogan if it is interpreted as suggesting that we can best forget about the role of the government for a good functioning economy. Instead, I will argue that the government has an important fu- tion in creating the proper regulations and the wise institutional arran- ments which will allow the economy to flourish in a more efficient, fair and humane way. This book is interdisciplinary in nature. It is a philosophical and ethical reflection on economics. Hence, I make use of philosophical ideas, often but not exclusively those of Hegel. I reflect philosophically on economic concepts.

Reviews

From the reviews:

"This book draws heavily on Hegel to outline ethical dimensions of the economy. … The book would be most worthwhile for readers who are interested an argument that Hegel’s ideas are consistent with standard public goods theory, and with Musgrave’s concept of merit goods. … the book may be more appealing to philosophers who are interested in building a bridge between economics and philosophy to consider the role of government in the economy." (Randall G. Holcombe, Public Choice, Vol. 138, 2009)

“This book is a philosophical and ethical reflection on economics. … each chapter is preceded by an orienting abstract that points out the major argument that the chapter develops. … an excellent reading for faculty discussion groups bringing together the social sciences and the humanities.” (John Donovan, The Reviews of Metaphysics, Vol. LXIII (2), December, 2009) “Hegel wrote at a time when mercantilist and physiocratic economic systems were being replaced by free-market capitalist systems, largely due to the influence of Adam Smith’s The Wealth of Nations. In the context of early 19th century Germany, Hegel’s problematic was the development of a theory of civil society in the context of a hereditary constitutional monarchy and a hereditary upper house of parliament. In that era, what would be the mediating agencies that would facilitate social prosperity through the modern economic developments, but also prevent extremes of poverty and social disruption for individuals left out of the ongoing dynamics? Hegel focused to a great extent on natural social/cultural organizing phenomena, which he called “corporations”, including such things as labor groups, professional societies, churches.
Since individuals gravitated naturally to such groupings, the key was to provide representation of their voices in government, thus providing an effective rapprochement of the individual with the universal, of nature with “spirit”. But if Hegel’s theory has worth, how to bring it into synchronization with the mechanics of modern democracies such as that of the United States? Wilfried Ver Eecke, in Hegel’s footsteps trying to avoid extremes of laissez-faire libertarianism and socialistic “command economies”, turns to the work of the political and economic theorists, Goetz Briefs, Mancur Olson, and Theodore Lowi, searching for answers to continuing questions concerning, taxation, welfare, limits of government intervention, etc. Of particular importance in his analysis is the distinction between public, private, and “merit” goods – the latter being an area insufficiently appreciated. This book is not on abstract economics, but in the continental tradition, and like Hegel, focuses on the interrelationship of politics, economics, ethics, and religion.” (Dr. Howard Kainz, Professor Emeritus, Marquette University)

Authors and Affiliations

  • Georgetown University Washington D.C., Washington, DC, USA

    Wilfried Eecke

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