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A forceful critique of the social science that has ruled—and damaged—the modern world. The practice of economics, as economists will tell you, is a powerful force for good. Economists are the guardians of the world’s economies and financial systems. The applications of economic theory can alleviate poverty, reduce disease, and promote sustainability. While this narrative has been successfully propagated by economists, it belies a more challenging truth: economic interventions, including those economists deem successful, also cause harm. Sometimes the harm is manageable and short-lived. But just as often the harm is deep, enduring, and even irreparable. And too often the harm falls on those least able to survive it. In The Tragic Science, George F. DeMartino says what economists have too long repressed: that economists do great harm even as they aspire to do good. Economist-induced harm, DeMartino shows, results in part from economists’ “irreparable ignorance”—from the fact that they know far less than they tend to believe they know—and from disciplinary training that treats the human tolls of economic policies and interventions as simply the costs of promoting social betterment. DeMartino details the complicated nature of economic harm, explores economists’ frequent failure to recognize it, and makes a sobering case for professional humility and for genuine respect for those who stand to be harmed by economists’ practice. At a moment in history when the economics profession holds enormous power, DeMartino’s work demonstrates the downside of its influence and the responsibility facing those who practice the tragic science.

Economics --- Moral and ethical aspects. --- tragedy of economics, irreparable harm, welfare economics, moral geometry, irreparable ignorance, paternalistic ethos, setbacks to interests, social harm, capabilities, decision making under deep uncertainty.

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Economics --- International economic relations --- Neoclassical school of economics --- Economic policy --- Distributive justice --- Liberalism --- Philosophy --- 339 --- 330.34 --- #SBIB:321H50 --- #SBIB:17H20 --- #SBIB:17H25 --- #SBIB:17H3 --- -International economic relations --- Liberal egalitarianism --- Liberty --- Political science --- Social sciences --- Distribution (Economic theory) --- Justice --- Social justice --- Wealth --- Economic nationalism --- Economic planning --- National planning --- State planning --- Planning --- National security --- Social policy --- Cambridge school of economics --- Marshallian economics --- Classical school of economics --- Schools of economics --- Economic policy, Foreign --- Economic relations, Foreign --- Economics, International --- Foreign economic policy --- Foreign economic relations --- Interdependence of nations --- International economic policy --- International economics --- New international economic order --- International relations --- Economic sanctions --- Economic theory --- Political economy --- Economic man --- Handel. Internationale economische betrekkingen. Wereldeconomie --binnenlandse als buitenlandse handel; zie ook {339.3} en {339.5} --- Economische ontwikkeling. Regionale economische ontwikkeling --- Westerse politieke en sociale theorieën vanaf de 19e eeuw: liberalisme --- Sociale wijsbegeerte: algemeen --- Sociale wijsbegeerte: economische orde en arbeid --- Politieke wijsbegeerte --- Moral and ethical aspects --- Economic Theory --- Business & Economics --- Distributive justice. --- Economic policy. --- International economic relations. --- Liberalism. --- Neoclassical school of economics. --- Philosophy. --- 330.34 Economische ontwikkeling. Regionale economische ontwikkeling --- 339 Handel. Internationale economische betrekkingen. Wereldeconomie --binnenlandse als buitenlandse handel; zie ook {339.3} en {339.5} --- Economics - Philosophy

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For more than a century, the economics profession has extended its reach to encompass policy formation and institutional design while largely ignoring the ethical challenges that attend the profession’s influence over the lives of others. Economists have proved to be disinterested in ethics, which, embracing emotivism, they often treat as a matter of preference, and hostile to professional economic ethics, which they incorrectly equate with a code of conduct that would be at best ineffectual and at worst disruptive to good economic practice. But good ethical reasoning is not reducible to mere tastes, and professional ethics is not reducible to a code. Instead, professional economic ethics refers to a new field of investigation— a tradition of sustained inquiry into the irrepressible ethical entailments of academic and applied economic practice. The risks and costs of establishing the field are real, but a profession that purports to enhance social welfare cannot avoid them.

Economics --- Economists --- Social scientists --- Economic theory --- Political economy --- Social sciences --- Economic man --- Moral and ethical aspects. --- Professional ethics. --- E-books --- Moral and ethical aspects --- Professional ethics --- Professional ethics. Deontology