Responsibility and Economics

Research output: Working paperWorking papers

Authors

Empirically, responsibility is a concept increasingly made use of in order to address societal issues. At the same time, it is a concept mainstream economics has, so far, hardly touched on. The paper shows that the application of economic reasoning to the responsibility concept can instruct a twofold learning process: First, the very tradition of economics allows to better understand and elaborate the semantics of responsibility. Here, the paper develops the concept of ordo-responsibility that differentiates between the initial basic game and the related meta-games. The focus thus shifts to the rule- setting processes and rule-finding discourses for which the actors can accept governance responsibility and discourse responsibility, respectively. Second, the rational-choice analysis of the responsibility concept also produces important insights for mainstream economic theory. Building on a simple model that delineates the responsibility aptitude of an actor, the paper explains why standard economics tends to attribute the rule-setting function exclusively to state actors. Yet, as the underlying nation-state paradigm depends on social determinants that are not universally given, such economic theory shows a double blind spot. Against this backdrop, the paper sketches out how to broaden the conventional perspective and identifies policy recommendations for state actors and business corporations.
Translated title of the contributionVerantwortung und Wirtschaft
Original languageEnglish
Place of PublicationHalle-Wittenberg
PublisherMartin-Luther-Universität Halle-Wittenberg
Number of pages33
ISBN (print)978-3-86010-900-7
Publication statusPublished - 2007
Externally publishedYes

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