Anderson, Elizabeth, and . Value in Ethics and Economics

1993, Cambridge: Harvard University Press.

Summary: Elizabeth Anderson offers a new theory of value and rationality that rejects cost-benefit analysis in our social lives and in our ethical theories. This account of the plurality of values thus offers a new approach, beyond welfare economics and traditional theories of justice, for assessing the ethical limitations of the market. In this light, Anderson discusses several contemporary controversies involving the proper scope of the market, including commercial surrogate motherhood, privatization of public services, and the application of cost-benefit analysis to issues of environmental protection.

Comment: This book as a whole would be an excellent addition to an upper level course on morals and markets. The last three chapters (7-9) cover a number of applied issues in economics and ethics. Chapter 8, "Is Women's Labor a Commodity" would be an especially good addition to a course on business ethics or biomedical ethics that discusses paid surrogacy.