Can economics be moral? Thoughts on Mandeville and the role of vice: Part I

Frédéric Teulon

IPAG Economics and Management Letters, vol. 12

Abstract: At first sight, economic relations have nothing to do with morals. However, while economics claims to be a science, in other science disciplines, the question of morality would never arise (we do not ask if the physics of particles is moral or not, or if the composition of a particular molecule obeys ethical principles...). The present analysis is largely based on the writings of Bernard Mandeville who drew attention to the ambiguous relationship between vice and virtue.

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