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- W2116244414 abstract "This paper argues that morality is required to allow the gains from trade to be reaped by reducing the ‘policing’ type of transactions costs involved in opportunistic behaviour. But, as Hume emphasised neither God nor Reason can justify any particular morality, the only source of morality must be local traditions which socialize children through the moral emotions of shame and guilt. Capitalism does require morality, but this cannot be enforced by States, NGO’s or supra-national insitutions." @default.
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- W2116244414 date "2002-03-01" @default.
- W2116244414 modified "2023-09-27" @default.
- W2116244414 title "MORALITY AND CAPITALISM: Learning from the Past" @default.
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