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This principle can be traced back to the Greek philosopher Aristotle, whose Nicomachean Ethics describes the connection between objective economic principles and the consideration of justice. [1] The academic literature on economic ethics is extensive, citing natural law and religious law as influences on the rules of economics. [ 2 ]
Hesiod active 750 to 650 BC, a Boeotian who wrote the earliest known work concerning the basic origins of economic thought, contemporary with Homer. [3] Of the 828 verses in his poem Works and Days, the first 383 centered on the fundamental economic problem of scarce resources for the pursuit of numerous and abundant human ends and desires.
The just price is a theory of ethics in economics that attempts to set standards of fairness in transactions. With intellectual roots in ancient Greek philosophy , it was advanced by Thomas Aquinas based on an argument against usury , which in his time referred to the making of any rate of interest on loans .
In the history of economic thought, ancient economic thought refers to the ideas from people before the Middle Ages. Economics in the classical age is defined in the modern analysis as a factor of ethics and politics, only becoming an object of study as a separate discipline during the 18th century. [1] [2] [3] [4]
Plato's so-called unwritten doctrines are metaphysical theories ascribed to him by his students and other ancient philosophers but not clearly formulated in his writings. . In recent research, they are sometimes known as Plato's 'principle theory' (German: Prinzipienlehre) because they involve two fundamental principles from which the rest of the system deriv
In the Republic, Plato's Socrates raises a number of criticisms of democracy.He claims that democracy is a danger due to excessive freedom. He also argues that, in a system in which everyone has a right to rule, all sorts of selfish people who care nothing for the people but are only motivated by their own personal desires are able to attain power.
The first edition of the book was published in 1960. Until the 10th edition, the author was Campbell R. McConnell, professor of economics at the University of Nebraska, Lincoln, and since the 11th edition, which was published in 1990, Stanley L. Brue, a professor of economics, has become a co-author. [1]
Plato's forms are regarded as patriarchs to essentialist dogma simply because they are a case of what is intrinsic and a-contextual of objects—the abstract properties that make them what they are. One example is Plato's parable of the cave. Plato believed that the universe was perfect and that its observed imperfections came from man's ...