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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.
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 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]
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 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]
The key work of Plato's ethics was the Republic, which was focused on conceiving justice, a concept which for Plato was inclusive of wider morality as well. [11] In a dialogue, Thrasymachus argued that conventional morality was a ruse invented to keep the elite in power, which should be discarded in favour of self-interest. [11]
The Form of the Good, or more literally translated "the Idea of the Good" (ἡ τοῦ ἀγαθοῦ ἰδέα [a]), is a concept in the philosophy of Plato.In Plato's Theory of Forms, in which Forms are defined as perfect, eternal, and changeless concepts existing outside space and time, the Form of the Good is the mysterious highest Form and the source of all the other Forms.
Crito (/ ˈ k r aɪ t oʊ / KRY-toh or / ˈ k r iː t oʊ / KREE-toh; Ancient Greek: Κρίτων) is a dialogue written by the ancient Greek philosopher Plato.It depicts a conversation between Socrates and his wealthy friend Crito of Alopece regarding justice (δικαιοσύνη), injustice (ἀδικία), and the appropriate response to injustice.