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The Moral Community: An Additional Dimension to Individualistic Rationalism

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Abstract:

In today's complex and interdependent society the meaning of the individual and the meaning of the community become critical for the functioning of a well-ordered society. Examines the basic flaw in classical economic reasoning which promotes an anti-social meaning of reality. Namely, its premisses limit reasoning to the analytical meaning of the individual isolated from significance given to the importance of community. Draws the conclusion that the scientific paradigm of economic thought is limited in its ability to account for the ethical and moral functioning of individuals as part of a moral community. It is a theory of reasoning with little regard for broader human ends than self-interest efficiency. However, when the economic "technique" is applied to society it becomes normative for behavioural definitions.

Keywords: Economic Theory; Efficiency; Ethics; Individual Behaviour; Moral Responsibility; Social Economics; Social Responsibility; Society

Document Type: Research Article

DOI: http://dx.doi.org/10.1108/03068299410064747

Publication date: July 1, 1994

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