The pre-classical and classical economists were primarily moral philosophers who writings
were infused with discussions of ethical subjects-witness Adam Smith's Theor of Moral
Sentiments. But moral issues generally fell out of vogue among the neoc sical economists of
the 20th century, as the profession strove to emulate the natu sciences by emphasizing
mathematical models of measurable phenomena. Only cently has morality resurfaced as a
topic of formal economic inquiry, subject to m ern tools of analysis. 1 There is already some …