Two self-interested people will try to outperform each other. One will win, the other will lose. If they instead cooperate, both will win a bit, and lose a bit. Is this preferable? I say yes, because in the long term, winning a bit many times, is better than winning a lot, once. Choosing short-term gain at the expense of long-term benefit is a waste of potential for societies and individuals. Traditional morality works, sometimes, in some cases. Rational morality can fill the gaps, and expand the circle of morality so that when higher ideals fail or become too difficult to follow, rationality can be about more than just short-term self-interest.
I wrote...
The Morality of Economic Behaviour: Economics as Ethics
There can be an ethical theory based on self-interested, economic behavior. In The Morality of Economic Behavior I argue that morality can be a side effect of selfish behavior. The argument is not novel; Adam Smith approached economics as a social discipline, with moral implications. Many after him examined the links between rationality and morality looking for a more solid foundation for moral behavior. The book puts together arguments from moral and political philosophy, economics, and game theory to show that the links between economics and morality are stronger than one might think at first. Importantly, when all we ask of people is to be self-interested in order to be moral, moral behavior becomes applicable.
The Community of Advantage is an excellent exposition of how moral philosophy informs and is informed by economics.
The title itself is taken from a political philosopher: John Stuart Mill. There is one caveat: Sugden speaks of behavioral economics, and as such, takes a different approach to rational agency than neoclassical economics.
Individual agency is not moral, but it is not assumed to be rational either. The book, and Sugden’s work as a whole, is of special relevance for two reasons: 1) It links morality with self-interest. 2) It uses society to argue for morality in self-interest.
The Community of Advantage asks how economists should do normative analysis. Normative analysis in economics has usually aimed at satisfying individuals' preferences. Its conclusions have supported a long- standing liberal tradition of economics that values economic freedom and views markets favourably. However, behavioural research shows that individuals' preferences, as revealed in choices, are often unstable, and vary according to contextual factors that seem irrelevant for welfare. Robert Sugden proposes a reformulation of normative economics that is compatible with what is now known about the psychology of choice.
The growing consensus in favour of paternalism and 'nudging' is based on a…
Minimal Morality offers an account of moral pluralism to fit modern pluralistic societies that have competing and diverse values and norms.
As opposed to the other books in the list, the moral theory here starts with assumptions about the moral character of agents; “no moral in, no moral out” (p. 7).
However, the books is relevant to the discussion about the links between rational and moral behavior because it discusses different ways to be moral and offers a way to address moral disagreement, which can shed light on the discussion about how to reconcile rationality with morality.
Michael Moehler develops a novel multilevel social contract theory. In contrast to existing theories in the liberal tradition, it does not merely assume a restricted form of reasonable moral pluralism, but is tailored to the conditions of deeply morally pluralistic societies which may be populated by liberal moral agents, nonliberal moral agents, and, according to the traditional understanding of morality, nonmoral agents alike. Moehler draws on the history of the social contract tradition, especially the work of Hobbes, Hume, Kant, Rawls, and Gauthier, as well as on the work of some of the critics of this tradition, such as Sen…
Paul Bloom wants to persuade the reader to be against empathy, as he is, because morally we’re better off without empathy.
He is right, and I see his argument as similar to the argument made by Sugden, although its structure is very different. Bloome, rightly, says that we cannot rely on empathy to be moral – we need something more and something more tangible.
That something might be rationality, although Bloome himself prefers to speak of reason. Moral theories have for too long relied on unstable ground: empathy and moral character.
If we care about morality, we must ground it on more solid ground.
In a divided world, empathy is not the solution, it is the problem; a source of prejudice, not kindness.
We think of empathy - the ability to feel the suffering of others for ourselves - as the ultimate source of all good behaviour. But while it inspires care and protection in personal relationships, it has the opposite effect in the wider world. As the latest research in psychology and neuroscience shows, we feel empathy most for those we find attractive and who seem similar to us and not at all for those who are different, distant or anonymous. Empathy therefore…
Brian Skyrms works on evolutionary game theory, among other things.
Signals is set in this context but focuses on the importance of information and communication for cooperation, and morality. We cannot cooperate, if we cannot communicate. And we cannot be moral, if we are not cooperative.
Thus, morality is born out of sociability, which is born out of communication. Like Sugden, Skyrms does not assume a moral character but ends up with a moral outcome.
An alternative understanding of Signals is focused on evolution. Signals, meaning and communication follow evolutionary dynamics, similarly to moral and social norms.
Understanding communication is vital to understand our social behavior, and it is especially topical today when communication takes many means and forms.
Brian Skyrms presents a fascinating exploration of how fundamental signals are to our world. He uses a variety of tools - theories of signaling games, information, evolution, and learning - to investigate how meaning and communication develop. He shows how signaling games themselves evolve, and introduces a new model of learning with invention. The juxtaposition of atomic signals leads to complex signals, as the natural product of gradual process. Signals operate in networks of senders and receivers at all levels of life. Information is transmitted, but it is also processed in various ways. That is how we think - signals…
For Gintis, morality is the result of social evolution.
Humans are meant to cooperate and behave morally because of the evolutionary history of our societies. If humans are social animals, then it follows, they must be moral animals as well.
Gintis, unlike the previous authors in the list, focuses on the social, rather than the individual, to also argue for a moral theory that does not depend on or stem from individual moral character, or moral constraints on behavior.
This is an important argument because it highlights, at least implicitly, that we have a lot in common with social animals and as such, we can learn a lot from animal societies, as well as from early human societies.
Why do humans, uniquely among animals, cooperate in large numbers to advance projects for the common good? Contrary to the conventional wisdom in biology and economics, this generous and civic-minded behavior is widespread and cannot be explained simply by far-sighted self-interest or a desire to help close genealogical kin. In A Cooperative Species, Samuel Bowles and Herbert Gintis--pioneers in the new experimental and evolutionary science of human behavior--show that the central issue is not why selfish people act generously, but instead how genetic and cultural evolution has produced a species in which substantial numbers make sacrifices to uphold ethical norms…
Few of us take the time to analyze our financial needs and goals to answer that pressing question. In Wealth Odyssey, author Larry R. Frank Sr. uses his extensive financial background to provide a universal road map that will help you determine the wealth you need to support your chosen lifestyle.
Frank discusses such topics as the wealth rule, the earning-spending-saving formula, using debt wisely, and risk management.
Wealth Odyssey is authored to be timeless; it does not matter what the market has done, or will do. This is a practical, no-nonsense guide that will help you develop a personal definition of wealth and create an effective strategy for long-term financial success.
Wealth Odyssey: The Essential Road Map for Your Financial Journey Where Is It You Are Really Trying to Go with Money?
"Frank, a Certified Financial Planner in California, offers a concise, precise guide to "prudent thinking" about personal finances, along with simple tools to estimate how much is required for a comfortable retirement." "A sound guide designed to help people make sensible plans for a successful retirement" - Kirkus book review "First let me tell you Larry Frank knows his stuff. He has a procedure that many will find worth taking the time to implement.” " The book is full of good advice." - Armchair interviews "Larry Frank Sr, gives you a guidebook or "road map" for your financial goals or…
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