22min chapter

The Seen and the Unseen - hosted by Amit Varma cover image

Ep 397: Larry White and the First Principles of Money

The Seen and the Unseen - hosted by Amit Varma

CHAPTER

The Ethics of Economics: Money and Morality

This chapter examines the limitations of economics when addressing ethical issues, asserting that efficiency cannot serve as a sole measure for moral dilemmas like slavery. It critiques traditional economic theories such as utilitarianism, advocating for a rights-based ethical framework in economic discussions. Additionally, the chapter explores the historical evolution of banking, monetary systems, and the transition from coins to banknotes, emphasizing the importance of ethical considerations in economic practices.

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