ETZIONI VERSUS BECKER - DO MORAL SENTIMENTS DIFFER FROM ORDINARY TASTES

There are two competing definitions of economics. One, exemplified in Etzioni's work, stipulates that economics is the study of one kind of ends, the pursuit of material benefits (welfare). This definition enta ils that material ends are incommensurable with moral ends. The other. expressed in Becker's work, registers that economics is the analysis of one aspect of all ends, optimization. This definition implies that material and moral ends are commensurable. The paper finds that each d efinition has its own shortcomings, The paper outlines an alternative view, illustrated by the difference between gifts and grants, which pr omises to supplant the shortcomings of each definition.