The moral economic man

Zsolnai, László (2011) The moral economic man. Working Paper. Budapesti Corvinus Egyetem Gazdaságetikai Központ.

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Economic behavior is multifaceted and context-dependent. However, the so-called Homo Oeconomicus model states that agents are perfectly rational, self-interest-maximizing beings. This model can be criticized on both empirical and normative grounds. Understanding economic behavior requires a more complex and dynamic framework. In the "I & We" paradigm developed by Amitai Etzioni, economic behavior is co-determined by utility calculations and moral considerations. Two major factors can explain the ethicality of economic behavior; namely, the moral character of the agents and the relative cost of ethical behavior. Economic agents are moral beings, but the ethical fabric of the economy determines which face of the Moral Economic Man predominates.

Item Type:Monograph (Working Paper)
Divisions:Faculty of Business Administration > Institute for Environmental Science > Business Ethics Center
ID Code:1193
Deposited By: Ádám Hoffmann
Deposited On:25 Apr 2013 14:29
Last Modified:25 Apr 2013 14:30

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