Concept
Economic ethics
Overview
Economic ethics is the combination of economics and ethics, incorporating both disciplines to predict, analyze, and model economic phenomena.
It can be summarized as the theoretical ethical prerequisites and foundations of economic systems. This principle can be traced back to the Greek philosopher Aristotle, whose Nicomachean Ethics describes the connection between objective economic principles and justice. The academic literature on economic ethics is extensive, citing natural law and religious law as influences on the rules of economics. The consideration of moral philosophy or a moral economy differs from behavioral economic models. The standard creation, application and beneficiaries of economic models present a trilemma when ethics are considered. These ideas, in conjunction with the assumption of rationality in economics, create a link between economics and ethics.
Overview adapted from Wikipedia (CC BY-SA 4.0; see the article history for authors).
Possible passages
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As soon as writing came into fashion, wise men, or those who fancied themselves such, would naturally endeavour to increase the number of those established and respected maxims, and to express their own sense of what was either proper or improper conduct, sometimes in the more artificial form of apologues, like what are called the fables of Aesop; and sometimes in the more simple one of apophthegms or wise sayings…
Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations
States what Economic ethics is; the author is tied to Economic ethics in the knowledge graph.
I regard, then, the two first books, as a complete work, which I would divide into three parts. The 1st relates to values in particular. It contains their definition; the laws which regulate them; the analysis of the elements which constitute a value, or enter into its composition; and the relations which values of different origin bear to each other. The 2d part treats of the general mass of national wealth, which…
Adam Smith, An Inquiry Into the Nature and Causes of the Wealth of Nations
The author is tied to Economic ethics in the knowledge graph.
To the first correspond what are called individual ends, to the second universal ends; the one gives rise to the judgment concerning the greater or less coherence of the action taken in itself, the other to that concerning its greater or less coherence in respect to the universal end, which transcends the individual.[69] Utilitarianism is according to Croce an attempt to reduce the Ethical to the Economic form…
John Dewey, Creative Intelligence
States what Economic ethics is.
Related ideas
- Instrumental and intrinsic value
- Callicles
- Gnosticism
- Distributive justice
- Philosophy
- Newtonianism
- Original position
- Karl Marx
- Behavioral economics
- Adam Smith
- Middle Ages
- Eudaimonia
- Mercantilism
- New Testament
- Natural law
- Normative ethics
- Old Testament
- Classical economics
- Plato
- Property
- Socrates
- Virtue ethics
- Salvation
- Institution
Opposing perspectives
Place in the tradition
Part of Buddhist philosophy.