Ethical Economy Is Possible

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I was confirmed that business is all about money; therefore, I hardly connect economics with ethics. However, they are actually straightly bonded in many views.

At first, healthy economy actually raises the ethic degree of a region. According to Freeman’s point of view, employees, entrepreneurs and customers should all aim for one goal—to maximize each one of their benefits. The conclusion of that can help reduce unemployment and cultural conflict, which is highly valued in building ethical environment.

Furthermore, another article claims that ethical economy will possibly rises under economical basement. In the passage, there is an idea states that what people commonly sees as immoral could actually makes everyone better off. In the end, ethical economy may occur with different constraint as it is described in ethics. In my opinion, this special ethical economy is defined as healthy economy that coordinates itself to find a pattern for business. (http://www.prospectmagazine.co.uk/philosophy/economics-ethics-free-markets)

In a nutshell, there are parts of economy that is controversy with ethical theory such as “maximizing profit” “minimizing cost” which causes problems like conscienceless food industry, inhumane treatment for cheap labors in developing countries; there are also parts of economy that greatly contribute to global civilization including charity and efficient international trade.

 

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