This text introduces readers to the relationship between economics and ethics and to the application of economic ethics in the evaluation of the market. The insights it provides help to develop the reasoning and analytical skills needed to criticize economic analysis as well as to apply ethical concepts to moral issues in economic policy.

A growing body of academic and business specialists are paying attention to ethical issues in business and economics, drawing on a wide range of different disciplinary and theoretical perspectives. This volume presents important new insights from scholars in economics, philosophy, business ethics and management studies. In addition to providing specific perspectives on particular topics, it presents strategic perspectives on the development of the field. Readers can inform themselves on developments in particular areas, such as social accountability or stakeholder governance; they will also find substantial contributions related to the interfaces of ethics and economics, economics and philosophy, business ethics and political science, and business ethics and management. The collection is a thought-provoking contribution to the development of business and economic ethics as an increasingly important field of academic study.

The theory of ethical economy analyses the ethical presuppositions of the market economy. It demonstrates that ethics is the pre-coordination in the motives of the economic agents anteceding the coordination of the price system in the market process. Ethical economy develops a positive theory of economic, ethical, and religious coordination of self-interested action described as a super-assurance game of prisoners' dilemma situations. It conceptualises ethics as the corrective of market failure and religion as the corrective of ethics failure. The formal ethics of coordination is then complemented by a theory of the material-substantive ethics of value qualities. One principle of ethical economy is the classical principle of double effect that is used for a theory of managerial and general decision-making. Unintended side-effects (externalities) are a central problem of decisions of large impact. Management decision making must exploit the potential for positive side-effects and control the negative side-effects of managerial decisions. The theory of ethical economy analyses the principles of just price and fair pricing and the relevance of the theory of just price for the pricing behaviour of the modern firm. Principles of Ethical Economy forms a theoretical synthesis of the market theory of modern economics and of the natural right tradition of ethics. It creates new insights into the ethics of the market as well as in the economics presuppositions and consequences of ethical duties, virtues, and goods.

For over a century the economics profession has extended its reach to encompass policy formation and institutional design while largely ignoring the ethical challenges that attend the profession's influence over the lives of others. Economists have proven to be disinterested in ethics. Embracing emotivism, they often treat ethics a matter of mere preference. Moreover, economists tend to be hostile to professional economic ethics, which they incorrectly equate with a code of conduct that would be at best ineffectual and at worst disruptive to good economic practice. But good ethical reasoning is not reducible to mere tastes, and professional ethics is not reducible to a code. Instead, professional economic ethics refers to a new field of investigation-a tradition of sustained and lively inquiry into the irrepressible ethical entailments of academic and applied economic practice. The Oxford Handbook of Professional Economic Ethics explores a wide range of questions related to the nature of ethical economic practice and the content of professional economic ethics. It explores current thinking that has emerged in these areas while widening substantially the terrain of economic ethics. There has never been a volume that poses so directly and intensively the question of the need for and content of professional ethics for economics. The Handbook incorporates the work of leading scholars and practitioners, including academic economists from various theoretical traditions; applied economists, beyond academia, whose work has direct and immense social impact; and philosophers, professional ethicists, and others whose work has addressed the nature of "professionalism" and its implications for ethical practice.

This book provides an introduction to the relationship between economics and ethics, explaining why ethics enters economics, how ethics affects individual economic behaviour and the interactions of individuals, and how ethics is important in evaluating the performance of economies and of economic policies.

This book is a fundamental and unique masterpiece which reflects the discussions on business and economic ethics over decades in German-speaking countries, and does so by systematically developing an Ethics of Economic Systems from a Christian-theological perspective with a firm foundation in the western philosophical and economic literature. Neither in German-speaking nor English-speaking regions has this complex theme been dealt with in such a comprehensive and thorough manner. Ethics is a matter of doing justice to the human without twisting the facts and ignoring the constraints. The study introduces seven criteria of human justice, that fundamentally relate to the Christian revelation and, at the same time, establish a humanistic and universal approach. Subsequently it focuses on the concrete economic systems and their problems. It describes and analyses various models of market and centrally-planned economies, and evaluates them in the light of middle-level principles, which are informed by both ethical criteria and economic knowledge. Thus the most legitimate economic system is the one which offers the most potential for reforms and self-critique. The merits of this approach are considerable: if the system of the market economy has the advantage of being thoroughly reformable, it also requires regulations which are equitable and responsible. In this view, one better understands the inescapable failure of Marxism but also the ethical ramifications of savage deregulations. Arthur Rich (1910-1992) was Professor of Systematic Theology and Director of the Institute of Social Ethics at the University of Zurich, Switzerland. He worked in the field of business and economic ethics for nearly 40 years. Georges Enderle is Arthur and Mary O'Neil Professor of International Business Ethics at the Mendoza College of Business, University of Notre Dame (Indiana, USA), and President of the International Society of Business, Economics, and Ethics (2001-2004), which organizes the ISBEE World Congress of Business and Economic Ethics every four years.

Economic theory in its neoclassical form is sometimes regarded as free from values; it is simply the theory of economic exchange. This can only hold true if we accept the idea of "Homo Economicus" and the equilibrium economy. But in the real world, away from neoclassical models, there is no intrinsic stability as such. Instead, stability is created by the surrounding social, cultural and political structures. Clearly, it is imperative that ethics features in the analysis of these economic and socio-political structures. Drawing on Aristotle, Kant, Hume and others, this book conceptualizes the analysis of ethics and economic and social structures. It first considers the key philosophical underpinnings and categories which frame the discussion of ethics in economic theory and then considers individual ethics, social action, financial structures and war. Throughout, ethics are examined in a multicultural context with structural complexities, and the difficulties in finding a coherent set of ethics which provides social cohesion and an open society are considered. A key part of this is the comparison of two ethical principles which can be adopted by societies: ius soli or loyalty to constitution, and ius sanguinis or loyalty to "Blood and Soil". The latter is argued to lead to problems of Us and the Other. Introducing the possibility of integrating microscopic ethics into socio-political structures and proposing the eventual existence of a global ethics, this volume is a significant contribution to the emerging literature on economics, social structures and ethics. It will be of particular interest to those working in business and public administration and who have an education in socio-economic areas, but it also has a broad appeal to students and academics in the social sciences.

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.

The market and the mind are not sellable. The future is for sale, because we all live in a futuristic world (for e.g., share market, child future, gold recovery, green-collar jobs, society welfare, petroleum, natural resources, competitive market, etc. all these revolve around the future of making money and a better life). But presently, our future depends on duty, rule-based ethics and character-based ethics. So, post COVID-19, India’s future will be divided into two parts: investment which depends on rule-based ethics and character-based ethics which comes under brand creation, gold value and market potential.

The UK Environmental Law Association (UKELA) holds a conference each year to bring together academics and practitioners, lawyers and environmental experts from other disciplines - within both science and social science. It is a unique event providing a forum for discussion of the most pressing issues of environmental regulation, and provides a unique combination of analysis and practical application. These articles, presented as papers at the Cardiff Conference in 2001, provide an accessible and informative collection addressing the conference theme of economics, ethics and the environment, including such issues as: how we can use traditional economic devices such as taxation, trading and insurance to assist in environmental regulation; how we treat and protect the natural world; how we might cope with the growing problem of waste; and how we should react to safeguard the environment in the face of risks and scientific uncertainties. The collection forms a topical and wide ranging discussion of key issues for legal practitioners, academics and students and will also be of great interest to a wider range of disciplines relating to the environment