Resumen de Ethics and economics, or how much egoism does modern capitalism need? Machiavelli's, and Malthus's new insight in its challenge

Vittorio Hösle

• The essay analyses an epochal change in the history of ethics – the rise of consequentialism as an alternative to earlier ethics focussing on virtues, due to the insight that sometimes virtuous behavior has deleterious consequences, while vicious behavior may benefit society. It shows that Machiavelli's political, Mandeville's economic and Malthus's demographic claims are analogous. They presuppose the emergence of a new science of the social world, which is not reducible to intentions. The focus of the essay is on the justifications of capitalism proposed in the 18th century; it discusses which of them are still valid while trying to evaluate contemporary forms of capitalism. Their greatest danger is the spill-over of rational egoism from the sphere of economy to that of politics.