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Cooperation

In: Ethical Economics

Author

Listed:
  • M. R. Griffiths
  • J. R. Lucas

Abstract

Business transactions are primarily a matter of cooperation, and take place because we can do better if we cooperate than if we do not. The benefits of cooperation are often unevenly distributed, calling for some readjustment if one party is not to be unfairly exploited by the other. Fairness requires that the transaction be viewed from both sides, each taking into consideration the interests of the other. Economic justice is to be understood not in terms of a just price or just wage fixed by some absolute standard, but in terms of a process that recognises the importance, in arriving at decisions, of the other’s point of view as well as one’s own.

Suggested Citation

  • M. R. Griffiths & J. R. Lucas, 1996. "Cooperation," Palgrave Macmillan Books, in: Ethical Economics, chapter 0, pages 18-30, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-38995-3_2
    DOI: 10.1057/9780230389953_2
    as

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