Teaching the Ethical Foundations of Economics

National Council on Economic Education, 2007

The authors gratefully acknowledge generous funding from the John Templeton Foundation for the production and dissemination of this book.

LIMITED USE PERMISSION: The activities and worksheets may be duplicated for classroom use only, the number not to exceed the number of students in each class. Notice of copyright must appear on all pages. With the exception of the activities and worksheets, no part of this material may be reproduced in any form or by any means without permission in writing from the publisher.

COPYRIGHT NOTICE: Teaching the Ethical Foundations of Economics. Copyright © 2007, Council for Economic Education, 122 East 42nd Street, New York, NY 10168. All rights reserved.

Front Matter
Acknowledgments
Introduction: Why Ethics Is Important to Economics vii
Lesson 1 Does Science Need Ethics? 1
Lesson 2 What Is the Difference Between Self-Interest and Greed? 17
Lesson 3 Do Markets Need Ethical Standards? 29
Lesson 4 Do Markets Make Us More Moral? 45
Lesson 5 What Are the Moral Limits of Markets? 61
Lesson 6 What Should We Do About Sweatshops? 81
Lesson 7 Should We Allow a Market for Transplant Organs? 107
Lesson 8 Is Efficiency an Ethical Concept? 127
Lesson 9 Do Businesses Have a Social Responsibility? 145
Lesson 10 What Is Economic Justice? 161
Test Bank 177
Glossary of Terms 185