Human Well-Being and Economic Goals (Frontier Issues in by Frank Ackerman

By Frank Ackerman

What are the ends of monetary job? in response to neoclassical concept, effective interplay of the profit-maximizing "ideal-producer" and the utility-maximizing "ideal shopper" will finally bring about a few kind of social optimal. yet is that social optimal just like human health? This quantity addresses that factor, contemplating such questions as: does the maximization of person welfare relatively result in social welfare?; how will we care for questions of relative welfare?; and the way can these items be measured, or perhaps assessed? The ebook brings jointly greater than seventy five concise summaries of literature within the box that think of problems with current and destiny person and social welfare, nationwide improvement, intake and fairness. Like its predecessors within the "Frontier matters in fiscal idea" sequence, it takes a multidisciplinary method of financial matters, studying their sociological, philosophical and mental elements and implications in addition to their monetary underpinnings. It deals an creation to the present and old writings that learn the concept that of human overall healthiness in ways in which may help us to set objectives for monetary task and choose its good fortune.

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In fact, however, many thinkers in the Western tradition find that their sets of final goals overlap to a considerable degree. Once one has selected the final goal(s) and has accepted some system of relationship between means and ends, the choice of intermediate goals is more amenable to scientific debate. If there is also agreement on a methodological Neva R. Goodwin 7 approach (such as the basic principles of Western science, with its concepts of evidence and its logical system of cause and effect), then there are rational grounds for discussing whether our behavior, policies, or philosophical approach are consistent with the final goal(s) we have accepted.

See also the Overview Essay and summaries in Part V. PAR T I Interdisciplinary Perspectives on Well-Being Overview Essay by Neva R. Goodwin As an overview and introduction to the topics of the whole book, Part I will give examples of an ongoing dialogue between philosophy and economics in which the former poses the “big questions”—What is the good life? What is happiness? —while economics, even in its most philosophical mode, rarely goes beyond the narrower question: What is economic wellbeing (or material prosperity, or a good standard of living)?

Another macro view is provided in Part VIII, where the question, What are the goals of economic activity? is featured in a consideration of the economic development of nations. This is looked at from two directions: one, the concept of development as applied to the third world; the other, reflections on the European style welfare state. Both approaches provide opportunities to consider the relationship between human well-being and the goals espoused by economic policy makers and by the political figures they advise.

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