Tag Archives: economics and ethics

Finance and philosophy.Money, Maths and MagicThe Golden RuleTim Johnson | Lecturer (associate professor) in the Department of Actuarial Mathematics and Statistics, Heriot-Watt University, Edinburgh

Good article about economics, power and ethics, with which I would substantially agree as a philosopher.  However, Professor Ruccio passes over the economic aspect of power, which bestows the ability to extract economic rent.  Power results in asymmetries that vitiate perfect competition and generate imperfect markets. This allows for rent extraction. Rent goes to the powerful, that is, the owners of real and financial capital, to the disadvantage of those lacking power, basically...