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The ethics of a globalized world: a universal ethic?

Author

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  • Horácio Faustino
  • Ana Kaizeler
  • Rafael Marques

Abstract

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. Key Words: Ethics, Moral, Globalization, Utility, Justice, Solidarity.

Suggested Citation

  • Horácio Faustino & Ana Kaizeler & Rafael Marques, 2009. "The ethics of a globalized world: a universal ethic?," Working Papers Department of Economics 2009/20, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
  • Handle: RePEc:ise:isegwp:wp202009
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    References listed on IDEAS

    as
    1. Richard E. Baldwin & Philippe Martin, 1999. "Two Waves of Globalisation: Superficial Similarities, Fundamental Differences," NBER Working Papers 6904, National Bureau of Economic Research, Inc.
    2. Kleinert, Jörn, 2001. "The Role of Multinational Enterprises in Globalization: An Empirical Overview," Kiel Working Papers 1069, Kiel Institute for the World Economy (IfW).
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    More about this item

    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 and Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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