In a global economy, global and universal ethics are a necessity. How can ethics be connected to the economy in an interdependent world? From all the different theories on ethics, which should we choose? Do utilitarianism and the maximization of utility promote the happiness of all or do they promote selfishness? What are the roles of international institutions in the definition of and respect for universal duties and rights? What is the relationship between the two waves of globalization and income distribution inequality around the world? These are questions that this paper raises and attempts to answer, putting forward some contributions towards the definition of a global ethic based on duties, virtues and fraternity; a universal ethic reconciling partiality in feelings with the impartiality of duties; an ethic which combining justice with solidarity and in which the means justify the ends.
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Paper provided by Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon. in its series Working Papers with number
2009/20.
Length: Date of creation: Mar 2009 Date of revision: Handle: RePEc:ise:isegwp:wp202009
Contact details of provider: Postal: Department of Economics, School of Economics and Management (ISEG), Technical University of Lisbon, Rua do Quelhas 6, 1200-781 LISBON, PORTUGAL Web page: http://www.iseg.utl.pt/departamentos/economia/
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Find related papers by JEL classification: A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values F01 - International Economics - - General - - - Global Outlook F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations I38 - Health, Education, and Welfare - - Welfare and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
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