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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 ]
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.
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 ethics of economic systems deals with the issues such as how it is right (just, fair) to keep or distribute economic goods. Economic systems as a product of collective activity allow examination of their ethical consequences for all of their participants. Ethics and economics relates ethical studies to welfare economics. [10]
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 most self-critical dialogue is the Parmenides, which features Parmenides and his student Zeno, which criticizes Plato's own metaphysical theories. Plato's Sophist dialogue includes an Eleatic stranger. These ideas about change and permanence, or becoming and Being, influenced Plato in formulating his theory of Forms. [54]
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
Beyond the emphasis on household economics, the dialogue treats such topics as the qualities and relationships of men and women, rural vs. urban life, slavery, religion, and education. Though Xenophon primarily explores underlying topics such as gentlemanliness, [ 3 ] husbandry, and gender roles through Socrates' conversations about wealth and ...