‘Ethical Novelty’: new insights into economic change
PublisherUniversidad Autónoma de Madrid, Departamento de Análisis Económico: Teoría Económica e Historia Económica
Serie/Num.Economic analysis working papers series. 3/2006
SubjectsKnowledge; Action plan; Ethical novelty; Cognitive and ethical dynamics; Economic change; Economía
Agents’ knowledge combines their perception of what reality is with their conception of what reality should be. “Ethical dynamics” refers to the evolution in the latter conception. This is a key element to explain changes in agents’ objectives of action, which usually do not result simply from interaction or “cognitive dynamics”. “Ethical novelties” are important sources of economic change. They consist of changes in the structure of action objectives which result from ethical dynamics.
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