The Basic Question of Ethics and Economic Theory

#5. Space Like a Punishment
The Basic Question of Ethics and Economic Theory

The author analyzes the place of basic ethic question — the problem of individual choice — in the polemics of A. Smith with B. Mandeville, theorems of R. Coase, K. Arrow, in “prisoner’s dilemma” and other liberal theories. She arrives at the conclusion that modern scholars, like representatives of classical school, consider ethical behavior of human as a key driver of economic development and welfare. The author also concludes that spiritual and moral education is a particularly important social good.

Ethical Business Practices is a Key Global Issue

#3. Green question

The ethical market economy should be based on the following principles: modest growth, stability, care, ability to share, focus on the needs, economic development with a human face and a long-term profit optimization. Under present conditions a balance between government regulation and free market relations is required.