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GM, economic incentives are a first order approximation which don't take moral values into account.

The economist in me wants to say morals are included in the economic calculus.

Economics and accounting are distinct fields but they often get lumped together

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I like the way you said that.

What he probably means is that his moral values are not sufficiently (to him) internalized by other actors. I imagine most of us feel that way.

economics tell you what happened

ethics tell you why