Principles Of Ethical Economy

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.

Buddhism points out that emphasizing individuality and promoting the greatest fulfillment of the desires of the individual conjointly lead to destruction. The book promotes the basic value-choices of Buddhism, namely happiness, peace and permanence. Happiness research convincingly shows that not material wealth but the richness of personal relationships determines happiness. Not things, but people make people happy. Western economics tries to provide people with happiness by supplying enormous quantities of things and today’s dominating business models are based on and cultivates narrow self-centeredness.But what people need are caring relationships and generosity. Buddhist economics makes these values accessible by direct provision. Peace can be achieved in nonviolent ways. Wanting less can substantially contribute to this endeavor and make it happen more easily. Permanence, or ecological sustainability, requires a drastic cutback in the present level of consumption and production globally. This reduction should not be an inconvenient exercise of self-sacrifice. In the noble ethos of reducing suffering it can be a positive development path for humanity.

Economics makes the incommensurable commensurable by money prices. On the other hand, there are varieties of goodness like the ethical that seem not to fit into the scale of prices of economics, but cannot be neglected in economizing. Ways of integrating ethics into economics must therefore be found. The aim of this book is the integration of the ethical discourse into the economic discourse about the economical and efficient. It investi§ gates into the structure of goodness. The contribution of this volume to the current debate in economic ethics and business ethics lies in its analysis of the different meanings of the good and in its reflection on the possibilities of implementing ethical goods into the practice of the economist and the manager of the firm. Its essays investigate the role of ethics in social and individual choice. They examine and compare the cultural determinants of the Western and the Japanese economies, their ethical and cultural foundations. They look into the principles of good management. How can the management incorporate human goods and consider the virtues of impartiality and of due consideration to the particular in its business practice? The book develops the idea of an ethical economizing in economics and of an ethical managing in business administration. The business of business is ethical business.

"The Moral Economy" by Ralph Barton Perry offers a thought-provoking examination of the ethical principles that underpin economic systems and their implications for society. In this insightful work, Perry explores the complex interplay between morality and economics, shedding light on the moral dimensions of economic decision-making and policy. Drawing upon philosophical inquiry, historical analysis, and contemporary economic theory, Perry delves into the fundamental questions of justice, fairness, and social responsibility that shape economic relationships. He examines the ethical implications of various economic systems, from capitalism to socialism, and considers their impact on issues such as income inequality, poverty, and environmental sustainability. At the heart of "The Moral Economy" is Perry's belief in the importance of ethical considerations in economic discourse and decision-making. He argues that a truly just and equitable society must be grounded in moral principles that prioritize the well-being of all individuals, especially the most vulnerable members of society. Through rigorous analysis and persuasive argumentation, Perry challenges readers to reconsider their assumptions about the relationship between morality and economics. He calls for a more compassionate and humane approach to economic policy, one that values human dignity and promotes the common good. "The Moral Economy" is essential reading for anyone interested in the intersection of ethics and economics. Perry's insights offer valuable perspectives on the moral challenges facing contemporary society and provide a framework for envisioning a more just and equitable economic system. Whether you're an economist, philosopher, policymaker, or concerned citizen, this book offers invaluable insights into the moral dimensions of economic life and the quest for a more humane society.

Increased understanding in international business grows both from an awareness of cultural differences as well as from an appreciation of underlying shared values across cultures. This volume focuses on the latter. It assembles the best thinking of scholars from around the world in an attempt to clarify and deepen our understanding of these ethical universals. Scholars from Germany, England, Canada, Japan, China, and the United States have contributed to this volume. They also represent diverse disciplines: economics, philosophy, business ethics, history, religion, education, and political theory. Nevertheless, they unite in their conviction that the most important values and principles in international business do no vary with geography.

A critical perspective on the foundations of economic theory showing the importance of ethical considerations and focusing in particular on altruism, cooperation and equity. Mainstream neoclassical economics is analysed and challenged from a moral and socio-economic perspective, emphasizing the relationship between economics, ethics and politics. Throughout the book the nature of homo economicus is contrasted with that of homo ethicus. Their different moral principles, behavioural rules and values are compared and the importance of this battle for a good and civilised society is emphasised.

This book presents an integration of the analysis of symbo- lic, ethical, and cultural meaning into the theory of econo- mic action. It demontrates that the scope of economics is widened by the inclusion of the cultural and ethical determinants of economic action and by bringing the ethical and cultural factors back into economics and management science. The book's contribution to business ethics and economic ethics lies in its distinctly continental European background which is often overlooked in current discussions of economic theory. The papers in this volume point to a mutual interpenetration of economics and ethics in a new synthesis of "ethical economy".

Using an interdisciplinary focus, this book combines the research disciplines of philosophy, business management and sustainability to aid and advance scholar and practitioner understanding of the United Nations' Sustainable Development Goals (SDGs).