Principles of Ethical Economy


Book Description

John Maynard Keynes wrote to his grandchildren more than fifty years ago about their economic possibilities, and thus about our own: "I see us free, there fore, to return to some of the most sure and certain principles of religion and traditional virtue - that avarice is a vice, that the exaction of usury is a misde meanour. . . . We shall once more value ends above means and prefer the good to the useful" ("Economic Possibilities for Our Grandchildren," pp. 371-72). In the year 1930 Keynes regarded these prospects as realizable only after a time span ofone hundred years, ofwhich we have now achieved more than half. The pres ent book does not share Keynes's view that the possibility of an integration of ethics and economics is dependent exclusively on the state of economic devel opment, though this integration is certainly made easier by an advantageous total economic situation. The conditions of an economy that is becoming post of ethics, cultural industrial and post-modern are favorable for the unification theory, and economics. Economic development makes a new establishment of economic ethics and a theory ofethical economy necessary. Herdecke and Hanover, October 1987 P. K. TABLE OF CONTENTS Foreword v Introduction . 0. 1. Ethical Economy and Political Economy . . 0. 1. 1. Ethical Economy as Theory ofthe Ethical Presuppositions of the Economy and Economic Ethics 3 0. 1. 2.




Ethical Dimensions of the Economy


Book Description

Overview This book is a philosophical reflection (using mainly Hegel, in addition to 1 Adam Smith, Kant, Marx and Catholic Social Thought) about the soc- political dimension of economics. In it I both agree and disagree with the slogan that “the least government is the best government. ” I agree with the slogan, in particular as it applies to the economic domain. Adam Smith taught us that rational and self-interested individuals, left by themselves, create a more efficient and reliable economic system than one in which the government has a heavy role as was the case in his time with the merc- tile system (Smith, 14, 651). Ludwig von Mises demonstrated the same idea for the communist command economy (Hayek 1935, 87–130). I d- agree with the above mentioned slogan if it is interpreted as suggesting that we can best forget about the role of the government for a good functioning economy. Instead, I will argue that the government has an important fu- tion in creating the proper regulations and the wise institutional arran- ments which will allow the economy to flourish in a more efficient, fair and humane way. This book is interdisciplinary in nature. It is a philosophical and ethical reflection on economics. Hence, I make use of philosophical ideas, often but not exclusively those of Hegel. I reflect philosophically on economic concepts.




Take Back the Economy


Book Description

In the wake of economic crisis on a global scale, more and more people are reconsidering their role in the economy and wondering what they can do to make it work better for humanity and the planet. In this innovative book, J. K. Gibson-Graham, Jenny Cameron, and Stephen Healy contribute complex understandings of economics in practical terms: what can we do right now, in our own communities, to make a difference? Full of exercises, thinking tools, and inspiring examples from around the world, Take Back the Economy shows how people can implement small-scale changes in their own lives to create ethical economies. There is no manifesto here, no one prescribed model; rather, readers are encouraged and taught how to take back the economy in ways appropriate for their own communities and context, using what they already have at hand. Take Back the Economy dismantles the idea that the economy is separate from us and best comprehended by experts. Instead, the authors demonstrate that the economy is the outcome of the decisions and efforts we make every day. The economy is thus reframed as a space of ethical action—something we can shape and alter according to what is best for the well-being of people and the planet. The book explores what people are already doing to build ethical economies, presenting these deeds as mutual concerns: What is necessary for survival, and what do we do with the surplus produced beyond what will fulfill basic needs? What do we consume, and how do we preserve and replenish the commons—those resources that can be shared to maintain all? And finally, how can we invest in a future worth living in? Suitable for activists and students alike, Take Back the Economy will be of interest to anyone seeking a more just, sustainable, and equitable world.




The Ethical Economy


Book Description

A more ethical economic system is now possible, one that rectifies the crisis spots of our current downturn while balancing the injustices of extreme poverty and wealth. Adam Arvidsson and Nicolai Peitersen, a scholar and an entrepreneur, outline the shape such an economy might take, identifying its origins in innovations already existent in our production, valuation, and distribution systems. Much like nineteenth-century entrepreneurs, philosophers, bankers, artisans, and social organizers who planned a course for modern capitalism that was more economically efficient and ethically desirable, we now have a chance to construct new instruments, institutions, and infrastructure to reverse the trajectory of a quickly deteriorating economic environment. Considering a multitude of emerging phenomena, Arvidsson and Peitersen show wealth creation can be the result of a new kind of social production, and the motivation of continuous capital accumulation can exist in tandem with a new desire to maximize our social impact. Arvidsson and Peitersen argue that financial markets could become a central arena in which diverse ethical concerns are integrated into tangible economic valuations. They suggest that such a common standard has already emerged and that this process is linked to the spread of social media, making it possible to capture the sentiment of value to most people. They ultimately recommend how to build upon these developments to initiate a radical democratization of economic systems and the value decisions they generate.




Handbook of Ethics of Islamic Economics and Finance


Book Description

Since the financial crisis of 2007/2008, a renewed discussion on the ethics and finance is being examined from different dimensions – finance for good society, responsible finance, ethical finance, financial crimes, and financial repression. The principal objective of this Handbook on Ethics of Islamic Economics and Finance is to provide a deeper understanding of the ethical underpinning of Islamic economics and finance. The reader will notice that the Handbook reflects a diversity of views on the subject of economic and business ethics in Islam across the intellectual spectrum of Muslim thought over the globe. Handbook attempts to find answers to some questions concerning the definition and characteristics of the ethical system in Islam. What is its goal and how do its rules and practices ensure welfare for individuals and society? Are the moral principles universal and invariable or do they change and adapt with the social changes of communities and progress in science and technology? Is the present generation accountable for the welfare of future generations? Where is the boundary between law and ethics and who guarantees their adoption and implementation?




The Moral Economy


Book Description

Should the idea of economic man—the amoral and self-interested Homo economicus—determine how we expect people to respond to monetary rewards, punishments, and other incentives? Samuel Bowles answers with a resounding “no.” Policies that follow from this paradigm, he shows, may “crowd out” ethical and generous motives and thus backfire. But incentives per se are not really the culprit. Bowles shows that crowding out occurs when the message conveyed by fines and rewards is that self-interest is expected, that the employer thinks the workforce is lazy, or that the citizen cannot otherwise be trusted to contribute to the public good. Using historical and recent case studies as well as behavioral experiments, Bowles shows how well-designed incentives can crowd in the civic motives on which good governance depends.




Ethical Prospects


Book Description

Ethical Prospects: Economy, Society, and Environment aims to present and summarize new perspectives and leading-edge results in ethics reflecting on interconnected economic, social and environmental issues. The yearbook reports on innovative practices and policy reforms and provides a forum for discussion about groundbreaking theories. The main function of the yearbook is to present ideas and initiatives that lead toward responsible business practices, policies for the common good and ecological sustainability. It seeks to form a value-community of scholars, practitioners and policymakers engaged in genuine ethics in business, environmental management, and public policy.




Ethical Dimensions of International Management


Book Description

Examining the relationship of national-cultural differences to ethical behavior, Ethical Dimensions of International Management helps the reader begin to understand the subtleties and nuances of ethical practices across nations. This innovative work uses short vignettes to illustrate each of its points while comparing and analyzing the primary influences on ethical behavior such as parenting, education, law, organizational cultures, and human resources management. Special features of the book include an extensive review and summary of relevant research literature, exhaustive coverage of a variety of different nationalities and cultures, and a direct comparison between Japan and the United States. Each chapter begins with several short cases and ends with helpful discussion questions. The book concludes with an analysis of the degree to which ethical systems of different nations may converge or diverge in coming years. Students and professionals in organizational studies, ethics, and international management will appreciate the unique viewpoint Ethical Dimensions of International Management presents. The pedagogical aids within the volume will spark discussion and debate.




Ethical Markets


Book Description

With insight, clarity, warmth, and enthusiasm Hazel Henderson announces the mature presence of the green economy. Mainstream media and big business interests have sidelined its emergence and evolution to preserve the status quo. Throughout Ethical Markets Henderson weaves statistics and analysis with profiles of entrepreneurs, environmentalists, scientists, and professionals. Based on interviews conducted on her longstanding public television series, these profiles celebrate those who have led the highly successful growth of green businesses around the world. Ethical Markets is the ultimate sourcebook on today's thriving green economy.




The Ethical Formation of Economists


Book Description

Economists' role in society has always been an uneasy one, and in recent years the ethicality of the profession and its practitioners has been questioned more than ever. This collection of essays is the first to investigate the multifaceted nature of what forms economists' ethical and economic views. Bringing together work from international contributors, The Ethical Formation of Economists explores the ways in which economists are influenced in their training and career, examining how this can explain their individual ethical stances as economists. The book suggests that if we can better understand what is making economists think and act as they do, considering ethicality in the process, we might all be better placed to implement changes. The intent is not to exonerate economists from personal responsibility, but to highlight how considering the circumstances that have helped shape economists' views can help to address issues. It is argued that it is important to understand these influences, as without such insights, the demonization of economists is too easily adapted as a stance by society as well as too easily dismissed by economists. This book will be of great interest to those studying and researching in the fields of economics, ethics, philosophy and sociology. It also seeks to bring an ethical debate within and about economics and to cause change in the practical reasoning of economists.