WHY ETHICAL BEHAVIOUR IS GOOD FOR THE ECONOMY
Towards Growth, Wellbeing and Freedom
Economy & Politics
Morris Altman, Dean, University of Dundee School of Business (UDSB), Chair Professor of Behavioural and Institutional Economics, and Co-operatives, Dundee, Scotland, UK
All except China, Japan, Korea, Taiwan
This timely book offers a nuanced critique of the nudge narrative, and demonstrates why and how ethical behaviour can have significant positive economic and wellbeing outcomes. Morris Altman models a complex alternative to the expectations of ethical behaviour and shows how this behaviour can be consistent with competitive market economies, contrary to what conventional economic theory suggests. Providing an alternative theoretical framework to analyse the relationship between ethical behaviour, decision-making environments and capabilities, individual preferences and the economy, Altman examines how being ethical can be an engine for economic growth and development. The book offers a better understanding of how ethical behaviour is good not only for the economy, but also for improving the wellbeing of our society at large whilst respecting and enhancing the rights and freedoms of individuals. This book is an important read for all those not content with the conventional economic narrative. It is also a provocative and thoughtful book for policy-makers and economists looking to better understand the growing importance of ethical behaviour for the economy.
‘In this ambitious and wide-ranging book, Altman takes a behaviorally informed approach to answer the perennial question of how capitalism relates to ethics. By examining the choices made by firms, consumers, and government, Altman shows how markets and morality can interact and support each other – and more importantly, under which circumstances they do not. In doing so, he offers a blueprint for reform to ensure global wellbeing continues to rise without compromising other ethical goals such as equality and freedom.’ – Mark White, College of Staten Island, CUNY, US ‘Altman has spent many years in the scientific study of the role of morality in economic behavior. This book reports the major findings of this research – research carried out by many economists and policy analysts around the...