Value in Ethics and Economics

by Elizabeth S. Anderson

Elizabeth Anderson offers a new theory of value and rationality that rejects cost–benefit analysis in our social lives and in our ethical theories. This account of the plurality of values thus offers a new approach, beyond welfare economics and traditional theories of justice, for assessing the ethical limitations of the market. In this light, Anderson discusses several contemporary controversies involving the proper scope of the market, including commercial surrogate motherhood, privatization of public services, and the application of cost–benefit analysis to issues of environmental protection.

Genres: Philosophy, Economics, Politics

262 pages, Paperback

First published October 15, 1993

About the author

Elizabeth Anderson is the John Rawls Collegiate Professor of Philosophy and Women's Studies at the University of Michigan, Ann Arbor. She is the author of Value in Ethics and Economics.

Reviews

[Ft. Sheridan · Rating 4 out of 5]

Suck it neo-classical economics. I'm not sure if I'm sold on pragmatism or not, but boy am I ever sold on critiques of monistic theories of value.

[Jatan · Rating 5 out of 5]

In this dissertation-turned-book, Anderson outlines her "rational attitude theory" to accommodate different modes of valuations for different kinds of social, political, and personal goods. She provides a pragmatic framework for applying her theory in various contexts, and argues for the positive role of criticism, justification, and common sense in affirming the "plurality of contestable ideals." The book concludes with an analysis of certain practices -- including prostitution and commercial surrogate motherhood -- through the lens of Anderson's pluralist, rationalist theory, highlighting the ethical limitations of market norms governed by monistic theories of value.

[Cheryl]

old & academic... I'd love to see an updated edition adapted to the popular audience... I mean, I could decode it, as I'm not naive or ignorant, but it wouldn't be worth it to me....

[Kevin]

Very dry.

[Dz · Rating 5 out of 5]

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