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Civil Economy: An Alternative to the Social Market Economy? Analysis in the Framework of Individual versus Institutional Ethics

María Guadalupe Martino ()
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María Guadalupe Martino: University of Münster

Journal of Business Ethics, 2020, vol. 165, issue 1, No 2, 15-28

Abstract: Abstract The Civil Economy (CE) approach, as developed by Italian economists Luigino Bruni and Stefano Zamagni, aims at introducing reciprocity into the economy as a humanizing factor. Despite being presented as an innovative perspective, the CE approach shares many characteristics with the German model of Social Market Economy (SME). The present paper compares both approaches, showing that they in fact share a normative basis and similar aims but address them from diverse points of view; namely, CE addresses them from a virtue ethics perspective and SME from an institutional ethics one. This leads them to stress different aspects and to focus on diverse problems. Therefore, CE would not constitute an alternative to SME but a complement. Thus, a combination of both approaches should allow each to take advantage of their respective strengths and lead to a better result in terms of the common good.

Keywords: Civil economy; Social market economy; Constitutional economics (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1007/s10551-018-4069-x

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Handle: RePEc:kap:jbuset:v:165:y:2020:i:1:d:10.1007_s10551-018-4069-x