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The Ethical Numeraire

Masudul Alam Choudhury (University College of Cape Breton, Nova Scotia, Canada)

International Journal of Social Economics

ISSN: 0306-8293

Article publication date: 1 January 1992

Abstract

Develops an ethico‐economic general equilibrium system that is founded on a well defined ethically oriented choice of goods that imparts an ethical motivation to the activities of consumption, production and distribution. Shows that the choice of such a numeraire market basket and its related prices is instrumental on the polity‐market interaction, brought out as the heart of the problem, that is treating ethics as endogenous phenomena of the social order. The resulting ethico‐economic general equilibrium system is thereby found to be only locally stable, not globally stable in its equilibria, which are all policy induced and market driven, perturbed and unsettling as polity evolves.

Keywords

Citation

Alam Choudhury, M. (1992), "The Ethical Numeraire", International Journal of Social Economics, Vol. 19 No. 1, pp. 60-72. https://doi.org/10.1108/03068299210007625

Publisher

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MCB UP Ltd

Copyright © 1992, MCB UP Limited