Wellbeing, Nature, and Moral Values in Economics: How Modern Economic Analysis Faces the Challenges Ahead...

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Heinz Welsch

Wellbeing, Nature, and Moral Values in Economics

How Modern Economic Analysis Faces the Challenges Ahead

Heinz Welsch

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Hardback

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English

Routledge
15 February 2023

Philosophy; Psychological theory & schools of thought; Economic theory & philosophy; Environmental economics; Economic history

Series: Routledge Frontiers of Political Economy

Drawing on more modern expressions of economic analysis, this book explores the interplay between wellbeing, nature and moral values in economics.

In standard accounts of economics, these three themes are typically treated in isolation from each other, or else overlooked entirely. This book argues that due to this blinkered approach, standard economic analysis is poorly equipped to deal with global contemporary challenges including climate change, biodiversity loss, sustainability, and the risk of pandemic diseases. The book reviews the economic literature to show that the last few decades has seen the re-insertion into economic analysis of human wellbeing, natural resources and moral values: three themes present in early economic thought that are highly relevant to the challenges ahead. The book argues for the greater integration of these three themes as the natural environment is crucial to human wellbeing, and moral values are essential for environmentally benign behaviors. The book also focuses on how specific moral values, identified by contemporary moral psychology, actually shape economic behavior rather than how abstract ethical principles they should shape economic behavior.

The book will be of significant interest to readers in the economics and social sciences, particularly behavioral economics and social psychology.

By: Heinz Welsch
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 156mm,
Weight: 489g
ISBN: 9781032072562
ISBN 10: 1032072563
Series: Routledge Frontiers of Political Economy
Pages: 170
Publication Date: 15 February 2023
Audience: College/higher education , Primary
Format: Hardback
Publisher's Status: Active

"Heinz Welsch is Professor Emeritus of Economics at the University of Oldenburg, Germany. He formerly held positions at the universities of Cologne and Bonn. His fields of research include environmental, resource, and energy economics; economics of subjective wellbeing; and the role of norms and values for economic behavior. He has published extensively on these topics. His publications on ""environment and happiness"" were among the first contributions to this field."