Economics and Ethics

Content:One of the most enjoyable lectures which I will remember throughout and even plagiarize parts of the same :)
I must confess though that this is the first lecture on economics I have ever sat through and actually enjoyed.
The most intriguing part of the lecture for me was the separation of economics and ethics. Dr Johnson simplified ideas in order to get the concepts right at which point mixing theories was not a good idea. However I think in the real world separating economics from ethics doesn't seem logical. A google search of economics and ethics led me to this webpage http://www.nd.edu/~cwilber/pub/recent/ethichbk.html
which discussed John Neville Keynes argument of dividing economics into three areas: positive (economic theory: dealing with what is), normative (welfare economics: dealing with what ought to be), and practical (economic policy: applying the first to the second). This is putting this entire argument in a nutshell.
The article argues a very good issue of surrogate motherhood which ends up using children as a commodity.
Interesting !!!!

Posted by Sheetal Shetty