Virtue and Behavior

Abstract

This paper supports Amartya Sen's contention that our moral behavior cannot be represented in economic modeling, given the assumptions accepted by most rational choice theorists. In this paper Sen's argument is supplemented by traditional virtue ethics, which can account for how and why “commitment” is counter-preferential. Yet the changes to economic methodology that Sen recommends are rendered unnecessary by a particular innovation in Stoic ethical theory. If the Stoic distinction between indifferent goods and moral goods is invoked, economics can proceed apace, under the assumption that it is the science that handles our behavior in regard to indifferents only.stoicism, ethics, value, virtue, rational choice,

On utilitarianism vs virtue ethics as foundations of economic choice theory

“…But that is not all there is too it. As explained by Baker (2009, p. 13) once we have habituated ourselves to virtue, we are not choosing to be virtuous, we just are:When it comes to our habits, the rationale is not always immediately accessible. We do not expect people to sound like geniuses when they get interviewed about immoral opportunities they bypassed (or moral ones they have taken).…”

Global Justice and Stakeholding

“…In the previous section, I argued that stakeholding offers us a way of bringing virtue ethics back in to considerations of justice. My attention turns now to defending stakeholding 2 See Baker (2009) for an excellent discussion of the relation of virtues and economics in terms of praxis. 3 The most common criticism of stakeholding as presented here is that it is too neoliberal and corporatist.…”

On the Relationship Between Economics and Ethics

“…While deontology, in its simplest aspect of negative duty, is surprisingly easy to work into mainstream economic models, virtue ethics is more difficult, and therefore represents an even greater challenge to the status quo (van Staveren 2001;Baker 2009;Baker and White 2016) This difficulty also stands as a commentary on how far economics has gotten from its 18 thcentury roots, as Adam Smith has come to be regarded as a virtue ethicist (McCloskey 2008;Otteson 2016) as well as a moral sentimentalist. Virtue ethics differs from both consequentialism and deontology in that it does not prescribe or proscribe particular actions; rather than focusing on action, it emphasizes the moral qualities or character traits (virtues) of actors themselves.…”