Choosing Political Rules under Rule Utilitarianism: Constitutional Political Economy and the Moral Foundations of Capitalism

Authors

Abstract

Economics is positive analysis. Undergraduates, however, are ultimately interested in economics because it informs normative worldviews. Many undergraduates begin, at least implicitly, with consequentialism (and, more specifically, utilitarianism) as an ethical framework. Principles-level analysis informs what Yeager (2001) refers to as act utilitarianism, but exploring broad political ethical questions with act utilitarianism is problematic. I argue that the alternative rule utilitarianism is preferable and can be informed by a constitutional political economy analysis. I give examples based on Buchanan and Tullock's (1962) framework for considering government decision-making rules.

Recommended Citation

(2026) "Choosing Political Rules under Rule Utilitarianism: Constitutional Political Economy and the Moral Foundations of Capitalism," Journal of Economics and Finance Education: Vol. 14: Iss. 2, Article 9.
Available at: https://scholarship.rollins.edu/jefe/vol14/iss2/9