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The law of the value of commodities (German: Wertgesetz der Waren), [1] known simply as the law of value, is a central concept in Karl Marx's critique of political economy first expounded in his polemic The Poverty of Philosophy (1847) against Pierre-Joseph Proudhon with reference to David Ricardo's economics.
One study concluded that benefits of fair trade to producers were close to zero because there was an oversupply of certification, and only a fraction of produce classified as Fair Trade was actually sold on Fair Trade markets, just enough to recoup the costs of certification. [6]
Legal moralism is the theory of jurisprudence and the philosophy of law which holds that laws may be used to prohibit or require behavior based on society's collective judgment of whether it is moral. It is often given as an alternative to legal liberalism, which holds that laws may only be used to the extent that they promote liberty. [1]
[clarification needed] Sellers use imagery to satisfy that need, and the images they use become emblematic and representational of the values of ethical consumers, and in some ways the presentation of these images fetishize the product, and the pervasiveness of such images begins to shape ethicality, as the absence of these images also ...
This led some to posit that differing systems have equal validity, with no standard for adjudicating among conflicting beliefs. The Finnish philosopher-anthropologist Edward Westermarck (1862–1939) ranks as one of the first to formulate a detailed theory of moral relativism. He portrayed all moral ideas as subjective judgments that reflect ...
In his principal work, A Treatise on Political Economy (Traité d'économie politique, 1803), Jean-Baptiste Say wrote: "A product is no sooner created, than it, from that instant, affords a market for other products to the full extent of its own value." [1] And also, "As each of us can only purchase the productions of others with his/her own ...
Hume's law or Hume's guillotine [1] is the thesis that an ethical or judgmental conclusion cannot be inferred from purely descriptive factual statements. [ 2 ] A similar view is defended by G. E. Moore 's open-question argument , intended to refute any identification of moral properties with natural properties , which is asserted by ethical ...
Altruism is often seen as a form of consequentialism, as it indicates that an action is ethically right if it brings good consequences to others. [7] Altruism may be seen as similar to utilitarianism, however an essential difference is that the latter prescribes acts that maximize good consequences for all of society, while altruism prescribes maximizing good consequences for everyone except ...