Ethical crises in the international political economy

Jesse Russell

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2012, vol. 41, issue 6, 843-848

Abstract: The Icelandic banking crisis provides a useful example of how the global economic downturn transformed into a domestic crisis and then transformed again into an international conflict. Rather than a strict economic analysis, discussion around the economic causes and potential cures surrounding the Icelandic banking crisis have been framed in terms of ethics. The analysis shows that ethical paradigms based on consequences, in line with Kant's hypothetical imperative, do not align well with categorical imperatives based on duty when considering international political conflicts. It is unclear that any accounting would have the potential to achieve reconciliation.

Keywords: Iceland; Banking crisis; Ethics; Kant; International conflict; Categorical imperative (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:41:y:2012:i:6:p:843-848

DOI: 10.1016/j.socec.2012.08.001

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