Description - Freedom in Economics by Marc Fleurbaey
The importance of freedom as a value in poliitcal philosophy has long been challenged by the concept of welfare in theories of distributive justice and economics equity. In recent scholarship it has regained its central position, and progress is now being made by philosophers and economists to re-establish its importance. Recent theories of justice emphasize the value of individual choice, freedom and responsibility, while economic models now analyze how opportunity sets can be ranked by individuals interested in flexibility and freedom, how individual rights and basic liberties can be modelled on the theory of social choice, and how equitable allocations of opportunities can be defined.
This book presents a range of articles by philosophers and economists, debating the most crucial aspects of the subject: the definition and value of freedom; the valuation of opportunity sets; the modelling of rights in social theory; the efficiency consequences of various allocations of rights and freedoms; the opposition between outcome-oriented and opportunity-oriented theories of justice; the economic analysis of individual responsibility, and the applications of theories of equal opportunities; the empirical acceptance of moral principles laid down by theorists. The book provides a substantial contribution to the fruitful dialogue between philosophy and economics in this area. Each chapter is integrated being followed by comments which explore the underlying debates.
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