ECONOMICS, ETHICS: A LETTER TO THE ECONOMIST (August 12, 2009)

As you argue in your review of Amartya Sen’s The Idea of Justice (Cambridge, Massachusetts: Belknap, 2009), “economists have contended themselves with a laughably simple picture of human motivation, rationality, and wellbeing” (“How to Do It Better,” August 8, 2009). As well as morality, which is at the very core of your review. Like Adam Smith before him, Sen advocates a fusion of economics and ethics. Now that political economy is a long-forgotten subject, this sounds like a revolutionary proposal. Actually, it is but a return to a tradition that boasts many an economist of great fame, including David Ricardo, John Stuart Mill, and, well, Karl Marx. Sadly, your review does not even mention this illustrious tradition that may well offer economics a new lease on life.