Advertisement

Value Economics

The Ethical Implications of Value for New Economic Thinking

  • M. R. Griffiths
  • J. R. Lucas

Table of contents

  1. Front Matter
    Pages i-xv
  2. M. R. Griffiths, J. R. Lucas
    Pages 1-13
  3. M. R. Griffiths, J. R. Lucas
    Pages 15-36
  4. M. R. Griffiths, J. R. Lucas
    Pages 37-55
  5. M. R. Griffiths, J. R. Lucas
    Pages 57-80
  6. M. R. Griffiths, J. R. Lucas
    Pages 81-114
  7. M. R. Griffiths, J. R. Lucas
    Pages 115-126
  8. M. R. Griffiths, J. R. Lucas
    Pages 127-142
  9. M. R. Griffiths, J. R. Lucas
    Pages 143-174
  10. M. R. Griffiths, J. R. Lucas
    Pages 175-187
  11. M. R. Griffiths, J. R. Lucas
    Pages 189-211
  12. M. R. Griffiths, J. R. Lucas
    Pages 213-226
  13. M. R. Griffiths, J. R. Lucas
    Pages 227-249
  14. M. R. Griffiths, J. R. Lucas
    Pages 251-266
  15. Back Matter
    Pages 267-281

About this book

Introduction

The last financial crisis revealed a gap between business practice and ethics. In Value Economics, Griffiths and Lucas examine some of the reasons for this ethical gap and discuss the resulting loss of confidence in the financial system. One of the reasons has been hazy or inadequate thinking about how we value economic enterprises. With the close link between the creation of value and business ethics in mind, this book proposes that economic value should become the basic metric for evaluating performance in the creation of value, and for establishing fair and reasonable standards for executive compensation. Value Economics considers a number of rational philosophical principles for business management, on which practical codes of business ethics can be based. As the creation of value has moral implications for economic justice, the book reaffirms the argument for economics as a moral science, and seeks, within the context of proposed changes in the regulation and control of financial services, to answer the following question: will things really change after the last financial crisis?

Keywords

Economic and intrinsic value Economics as moral science Corporate social responsibility Philosophy of economics Business ethics

Authors and affiliations

  • M. R. Griffiths
    • 1
  • J. R. Lucas
    • 2
  1. 1.British Institute of FlorenceGovernorFlorenceItaly
  2. 2.Fellow, Merton College, Oxford OxfordUnited Kingdom

Bibliographic information

  • DOI https://doi.org/10.1057/978-1-137-54187-1
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2016
  • Publisher Name Palgrave Macmillan, London
  • eBook Packages Economics and Finance
  • Print ISBN 978-1-137-54186-4
  • Online ISBN 978-1-137-54187-1
  • Buy this book on publisher's site