The Economist's Oath: On the Need for and Content of Professional Economic Ethics
"Of course not all economists have ignored ethical issues. Among others, Robert Nelson (2001), Deirdre McCloskey (2006) and Paul Heyne (2008) have given thoughtful critiques of theological and ethical issues in the practice of economics. DeMartino takes those arguments a large step forward, however, arguing that economists, in their everyday practice of doing economics, are not ethical."--EH.net"Both in construction and exposition the book displays the carefulness and clarity that characterizes the best philosophical writing. DeMartino works through his arguments thoroughly but concisely, not shrinking from exploring the ramifications of his points, but not pursuing them further than is needed to grasp the issues in question. The care and clarity of his writing should make it impossible for a careful, honest reader to misinterpret what the author is arguing. Hence he provides a fruitful basis for the further debate that he calls for..."--Erasmus Journal for Philosophy andEconomics"Can anyone doubt that economists need a good dousing in ethics? George DeMartino does just that. He does so, not in anger, but with the calm and persuasive tone of an author who knows his subjects and gives full airing to those who may disagree. He has written a book on ethics that is itself ethical. It is a valuable and novel contribution to a profession that keeps repeating its errors. How do we make them listen?"--Jeff Madrick, author ofThe Case for Big Government"DeMartino has broken with the economist's oath never to discuss oaths. It's about time. Economists are taught in graduate school that about ethics one should not dispute, which gives them a warrant to ignore ethics in their science. The teaching is philosophically naive and politically silly. A science of the economy, and certainly an economist advising the prince, depends on ethical commitments, such as the elementary one to seek the truth, or to do no harm, or to support democracy, or to help the poor. DeMartino has courageously opened the conversation, with a masterful command of economics and of English style."--Deirdre McCloskey, author ofBourgeois Virtues: Ethics for an Age of Commerce and The Cult of Statistical Significance"InThe Economist's Oath,George DeMartino reminds us that what economists do matters deeply-economic policies and interventions affect the rights, opportunities and life chances of people everywhere. This book should provoke careful consideration by economists, human rights advocates and others of what it means to be an 'ethical economist.'"--Mary Robinson, former President of Ireland, former UN High Commissioner for Human Rights, founder and President of Realizing Rights: The Ethical Globalization Initiative"InThe Economist's OathGeorge DeMartino presents the elements of professional ethics, notably principles of prudence and autonomy well-known to doctors and engineers, and he demonstrates their neglected relevance to economists. Careful, respectful and  without rancor or rush-to-judgment, this beautifully-argued book is a warning about economics today and a challenge to economists to come."--James K. Galbraith, The University of Texas at Austin and author,The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too"Economists matter. They have influence and power; what they do affects people's lives. With influence comes responsibility. All too often economists don't even consider those responsibilities. They should, and this book will help them do so."--David Colander, CAJ Distinguished Professor of Economics, Department of Economics, Middlebury College"Economists rarely seem to think about the ethics of their profession. This book makes a powerful case as to why they should and what professional ethics would mean."--Dean Baker, Co-Director, Center for Economic and Policy Research"The economics profession today faces a crisis of confidence and identity. This partly stems from a blindness to ethical factors in economic policy advising and making.The Economist's Oathis a major contribution to the necessary rethinking of professional economic conduct."--Robert H. Nelson, University of Maryland"It is remarkable that the economics profession has failed to produce a code of ethics.The Economist's Oathis a wake-up call not only to professional economists but to everyone who relies upon their judgment and advice-in short, to all of us."--James K. Boyce, University of Massachusetts, Amherst"This book belongs on the shelf of every ethicist, policy analyst and civic activist if we are going to loosen the grip of economics' dead hand from our lives."--Ethical Matters.com