Economic thinking and ethics: an ethical approach for economical issues
AbstractThe worldwide economic crisis of 2007/2008 popularised the ethical questions within economics. Currently, few mainstream economists tackle these questions and the typical curriculum of economics often lacks input on philosophy, ethics and the history of economic thoughts. However, economists confronted with ethical questions believe themeslves capable of answering them. As a result, the popular discussion about ethics and economics becomes a discussion about regulations. In contrast to that, in the context of the “Economics and Ethics” discussion in Germany, the article shows an alternative approach, which concentrates on the question of why something is to be labelled as “moral”. On the base of Peter Ulrich's integrative economic ethics, the relevance of the right of subsistence on the ethical legitimacy of economic decisions, recommendations etc. is explained. The insights are discussed with respect to labour market theories and the German labour market reforms of 2005. Finally, the question of ethical legitimation is connected to the question of democracy and economics.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 34313.
Date of creation: 25 Oct 2011
Date of revision:
Peter Ulrich; integrative economic ethics; discourse; ethical legitimation; Karl Polanyi; Subsistence; Viablity; Right of Subsistence;
Find related papers by JEL classification:
- B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary
- P48 - Economic Systems - - Other Economic Systems - - - Political Economy; Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
- B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
- Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Social and Economic Stratification
- B00 - Schools of Economic Thought and Methodology - - General - - - History of Economic Thought, Methodology, and Heterodox Approaches
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-11-01 (All new papers)
- NEP-HME-2011-11-01 (Heterodox Microeconomics)
- NEP-HPE-2011-11-01 (History & Philosophy of Economics)
- NEP-PKE-2011-11-01 (Post Keynesian Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Thieme, Sebastian, 2010. "Individual Subsistence: On a Principle of Economy and Society," MPRA Paper 23405, University Library of Munich, Germany, revised 21 Jun 2010.
- Thieme, Sebastian, 2010.
"Subsistenz: Geschichte, Bedeutung und Rekonstruktion des Subsistenzbegriffes
[Subsistence: History, Meaning and Reconstruction of the Subsistence Term]," MPRA Paper 24553, University Library of Munich, Germany.
- Thieme, Sebastian, 2010. "Sozialstaatlicher Reformgeist und ethische Legitimität," EconStor Preprints 41476, ZBW - German National Library of Economics.
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