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Economic ethics is the combination of economics and ethics that judges from both disciplines to predict, analyze, and model economic phenomena. It encompasses the theoretical ethical prerequisites and foundations of economic systems. This particular school of thought dates back to the Greek philosopher Aristotle, whose Nicomachean Ethics ...
Value theory. In ethics and the social sciences, value theory involves various approaches that examine how, why, and to what degree humans value things and whether the object or subject of valuing is a person, idea, object, or anything else. Within philosophy, it is also known as ethics or axiology. Traditionally, philosophical investigations ...
e. In ethics and social sciences, value denotes the degree of importance of some thing or action, with the aim of determining which actions are best to do or what way is best to live ( normative ethics in ethics ), or to describe the significance of different actions. Value systems are proscriptive and prescriptive beliefs; they affect the ...
A living wage is defined as the minimum income necessary for a worker to meet their basic needs. [ 3] This is not the same as a subsistence wage, which refers to a biological minimum, or a solidarity wage, which refers to a minimum wage tracking labor productivity. Needs are defined to include food, housing, and other essential needs such as ...
Development ethics is a field of enquiry that reflects on both the ends and the means of economic development.It typically takes a normative stance, asking and answering questions about the nature of ethically desirable development and what ethics means for achieving development, and discusses various ethical dilemmas that the practice of development has led to.
In ethical philosophy, utilitarianism is a family of normative ethical theories that prescribe actions that maximize happiness and well-being for the affected individuals. [1] [2] In other words, utilitarian ideas encourage actions that ensure the greatest good for the greatest number. Common good is a key phrase in utilitarianism. [3]
Protestant work ethic. The Protestant work ethic, [1] also known as the Calvinist work ethic [2] or the Puritan work ethic, [3] is a work ethic concept in sociology, economics, and history. It emphasizes that a person's subscription to the values espoused by the Protestant faith, particularly Calvinism, result in diligence, discipline, and ...
t. e. Moral economy is a way of viewing economic activity in terms of its moral, rather than material, aspects. The concept was developed in 1971 by British Marxist social historian and political activist E. P. Thompson in his essay, "The Moral Economy of the English Crowd in the Eighteenth Century".