Profiteering: An Ethical Study

Roy Harrod

Chapter Essay 10 in Economic Essays, 1972, pp 208-217 from Palgrave Macmillan

Abstract: Abstract I propose to revert to certain ideas which were published some years ago but have made no impact.1 I submit that there does exist a moral sentiment, although a weak one, against profiteering,2 and that this sentiment has some influence on action. The entrepreneurs who testified at Oxford defended their adherence to the ‘full cost principle’, when they did adhere to it, on economic grounds — to depart from it would entail economic loss in the long run. But it was also possible to detect a recurrent note of moral support for the principle; there was a distinct sense among some of the witnesses — perhaps a minority — that there was something morally unsavoury in a consistent policy of charging a price substantially above cost.

Keywords: Moral Obligation; Moral Rule; Moral Sentiment; Moral Progress; Free Enterprise (search for similar items in EconPapers)
Date: 1972
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DOI: 10.1007/978-1-349-01494-1_10

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