Skip to main content

Consequentialism

  • Reference work entry
  • First Online:
  • 65 Accesses

Abstract

Adopting a consequentialist approach requires knowing the whole set of consequences of an action. If we assume the future is radically uncertain, which may be argued for several different reasons, this approach can be used only in an explicative way and not in a predictive one.

This is a preview of subscription content, log in via an institution.

Buying options

Chapter
USD   29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD   819.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book
USD   1,099.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Learn about institutional subscriptions

References

  • Baggini J, Fosl PS (2007) The ethics toolkit: a compendium of ethical concepts and methods. Blackwell, Oxford

    Google Scholar 

  • Blackburn S (2008) The Oxford dictionary of philosophy, 2nd edn. Oxford University Press, Oxford

    Google Scholar 

  • Davidson P (1996) Reality and economic theory. J Post Keynes Econ 18(4):479–508

    Article  Google Scholar 

  • De Uriarte B (1990) On the free will of rational agents in neoclassical economics. J Post Keynes Econ 12(4):605–617

    Article  Google Scholar 

  • Faber M, Proops JLR (1993) Evolution, time, production and the environment, 2nd edn. Springer Verlag, Berlin Heidelberg

    Book  Google Scholar 

  • Hayek FA (1952) The sensory order: an inquiry into the foundations of theoretical psychology. University of Chicago Press, Chicago

    Google Scholar 

  • Hicks J (1979) Causality in economics. Basil Blackwell, Oxford

    Google Scholar 

  • Hodgson GM (1996) Economics and evolution: bringing life back into economics. University of Michigan Press, Ann Arbor

    Google Scholar 

  • Kirzner IM (1992) The meaning of market process: essays in the development of modern Austrian economics. Routledge, London

    Book  Google Scholar 

  • Lachmann LM (1977) Capital, expectations, and the market process: essays on the theory of the market economy. Subsidiary of Universal Press Syndicate, Kansas City

    Google Scholar 

  • Lachmann LM (1978) An Austrian stocktaking: unsettled questions and tentative answers. In: Spadaro LM (ed) New directions in Austrian economics. Sheed Andrew and McMeel, Kansas City, pp 1–18

    Google Scholar 

  • Lawson T (1988) Probability and uncertainty in economic analysis. J Post Keynes Econ 11(1):38–65

    Article  Google Scholar 

  • Loasby BJ (1991) Equilibrium and evolution: an exploration of connecting principles in economics. Manchester University Press, Manchester

    Google Scholar 

  • Loasby BJ (1999) Knowledge, institutions and evolution in economics. Routledge, London

    Book  Google Scholar 

  • Pettit P (2003) Consequentialism. In: Darwall S (ed) Consequentialism. Blackwell, Oxford, pp 95–107

    Google Scholar 

  • Popper KR (1957) The poverty of historicism. Routledge & Kegan Paul, London

    Google Scholar 

  • Shackle GLS (1972) Epistemics and economics: a critique of economic doctrines. Cambridge University Press, Cambridge

    Google Scholar 

  • Shackle GLS (1979) Imagination and the nature of choice. Edinburgh University Press, Edinburgh

    Google Scholar 

  • Thiroux JP, Krasemann KW (2012) Ethics: theory and practice, 11th edn. Pearson Prentice Hill, Upper Saddle River

    Google Scholar 

  • Von Mises L (1963) Human action: a treatise on economics, 4th edn. Fox & Wilkes, San Francisco

    Google Scholar 

Further Reading

  • Auyang SY (1998) Foundations of complex-system theories in economics, evolutionary biology, and statistical physics. Cambridge University Press, Cambridge

    Book  Google Scholar 

  • Hayek FA (1978) The pretence of knowledge. In: Hayek FA (ed) New studies in philosophy, politics, and economics, and the history of ideas. Routledge & Kegan Paul, London, pp 23–24

    Chapter  Google Scholar 

  • Hodgson GM (2004) Darwinism, causality and the social sciences. J Econ Methodol 11(2):175–194

    Article  Google Scholar 

  • Lawson T (1997) Economics and reality. Routledge, London

    Book  Google Scholar 

  • Salmon WC (1998) Causality and explanation. Oxford University Press, New York

    Book  Google Scholar 

  • Shackle GLS (1967) Décision, Déterminisme et Temps. Dunod, Paris

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to David Moroz .

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2019 Springer Science+Business Media, LLC, part of Springer Nature

About this entry

Check for updates. Verify currency and authenticity via CrossMark

Cite this entry

Moroz, D. (2019). Consequentialism. In: Marciano, A., Ramello, G.B. (eds) Encyclopedia of Law and Economics. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-7753-2_120

Download citation

Publish with us

Policies and ethics