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Proceedings of the XXIII World Congress of Philosophy

Volume 49, 2018

Philosophy of Economics

Ricardo F. Crespo
Pages 11-16

Returning to Aristotle
A New Wave in Economics

In recent times various books have suggested building a healthier economics on Aristotelian foundations. They often rely on Scott Meikle’s accurate study of Aristotle’s Economic Thought (Clarendon Press, 1997). For example, we can mention James Alvey’s A Short History of Ethics and Economics. The Greeks (Elgar, 2011), Spencer Pack’s Aristotle, Adam Smith and Karl Marx (Elgar, 2010), and Irene van Staveren’s The Values of Economics: An Aristotelian Perspective (Routledge, 2001) which stresses the need for inserting the values of justice, freedom and care into economics. Andrew Yuengert’s The Boundaries of Technique (Lexington Books, 2004) is based on Aristotle and Aquinas conceptions of human action. Yuengert has also published Approximating Prudence: Aristotelian Practical Wisdom and Economic Models of Choice (Palgrave-MacMillan, 2012). James Halteman and Edd Noell’s book about the relevance of ethics for economics, Reckoning with Markets (Oxford University Press, 2012) also deals with Aristotle’s economic thought. The proposal of a new book of Robert and Edward Skidelsky, How Much is Enough? (Other Press, 2012) is also highly based on Aristotle’s notion of the good life. This paper will briefly detect what are the Aristotelian concepts mostly used by these authors and the reason why they are returning to Aristotle.