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The impact of ethic formation on individual income

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  • Sarıbaş, Hakan

Abstract

In this paper, the relationships between individual income and ethics formation are studied. Our theoretical model explains what happens to individual incomes when a culture encourages people to devote life-time efforts to establish a virtuous character. Two propositions emerged from the present study. Firstly, if there exists a channel from effforts to income via ethics, individual income begins to increase and reaches a peak as more and more time is devoted to ethics formation. Additional time after the peak becomes detrimental to the individual income. Secondly, time for ethics formation becomes economically useless when the channel from efforts to income via ethics dissolves. Our simulations and econometric findings support the theoretical explanations.

Suggested Citation

  • Sarıbaş, Hakan, 2010. "The impact of ethic formation on individual income," MPRA Paper 26825, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:26825
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    References listed on IDEAS

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    1. North, Douglass C., 1989. "Institutions and economic growth: An historical introduction," World Development, Elsevier, vol. 17(9), pages 1319-1332, September.
    2. Lant Pritchett, 1997. "Divergence, Big Time," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 3-17, Summer.
    3. Douglas North, 2003. "The Role of Institutions in Economic Development," ECE Discussion Papers Series 2003_2, UNECE.
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    More about this item

    Keywords

    Growth; Institutions; Ethics; Turkey;
    All these keywords.

    JEL classification:

    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development

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