IDEAS home Printed from
   My bibliography  Save this paper

Ethico-economics, the future system


  • Islahi, Abdul Azim


Conventional economics, both in its free enterprise and command versions sought to delink the science of economics from moral religious values and reduce it to a positive science. Now most economists feel an urgent need for objective analysis of the entire economic landscape with a view to finding a fresh approach, which seeks the objective of efficiency and equity simultaneously and for all human beings. Productive investment is to be judged with reference to the twin criteria of economic viability and socio-moral desirability. Where and if the two conflict, the latter should get preference. The moral and ethical perspective is the common heritage of all religions. India is a plural society with multi-religious and diverse ideologies. In such a society, an integration of ethics and economics provides a common acceptable solution to economic problems and is in complete harmony with people's socio-cultural tendency.

Suggested Citation

  • Islahi, Abdul Azim, 1994. "Ethico-economics, the future system," MPRA Paper 22640, University Library of Munich, Germany, revised 1995.
  • Handle: RePEc:pra:mprapa:22640

    Download full text from publisher

    File URL:
    File Function: original version
    Download Restriction: no

    File URL:
    File Function: revised version
    Download Restriction: no

    References listed on IDEAS

    1. Hausman, Daniel M & McPherson, Michael S, 1993. "Taking Ethics Seriously: Economics and Contemporary Moral Philosophy," Journal of Economic Literature, American Economic Association, vol. 31(2), pages 671-731, June.
    Full references (including those not matched with items on IDEAS)

    More about this item


    Ethics; Economics; Capitalism; Socialism; Welfare economics; religion and economics.;

    JEL classification:

    • P0 - Economic Systems - - General
    • H8 - Public Economics - - Miscellaneous Issues
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion
    • A1 - General Economics and Teaching - - General Economics


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:22640. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter) or (Rebekah McClure). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.