The Political Economy of Economic Education: The Moral Dimensions

Abstract

When economics is taught, the moral dimensions of markets are commonly ignored. The result is that superficial, misleading, and highly emotional views on the morality of markets are given free rein. Furthermore, these views are reinforced by politicians and others to create a widespread moral bias against market incentives and in favor of government programs as the most moral approach to addressing economic problems. We consider the challenge this presents to effective economic education and the importance of considering the morality of markets and comparing it in a realistic and evenhanded way with the morality of the political process.Dwight R. Lee and Mark C. Schug, "The Political Economy of Economic Education: The Moral Dimensions," Journal of Markets & Morality 14, no. 1 (Spring 2011): 71-84