Reconnecting Morality with Political Economy
Morality is thought to be a mechanism through which societies enforce cooperation, enabling large-scale production, exchange, and social cohesion. The idea that morality is socially and economically functional is deeply rooted in an evolutionary perspective: As humans formed increasingly complex societies, cooperation became essential for survival, and moral systems emerged to enforce prosocial behaviors.
Benjamin Enke notes in his IMF article that effective economic policy cannot ignore moral considerations. Policymakers must recognize that people’s economic preferences are often shaped by their moral beliefs, which can vary widely across different groups. Understanding these moral divisions can help policymakers craft more effective and equitable policies. Recognizing the role of morality in economic behavior can help policymakers anticipate and address political polarization.
https://www.imf.org
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