THE ETHICAL FOUNDATIONS OF ECONOMIC SYSTEMS: EXPLORING THE INTERSECTION OF MORALITY AND MARKET DYNAMICS
Keywords:
ethics, economic systems, mixed economies, globalization, inclusivity, sustainability.Abstract
This comprehensive exploration delves into the ethical foundations of economic systems, navigating the intricate intersection of morality and market dynamics. The study employs a multidisciplinary approach, drawing insights from economic philosophy, political science, sociology, and business ethics. Through theoretical analysis, case studies, expert interviews, and quantitative assessments, the research examines the ethical implications of capitalism, socialism, and mixed economies. It explores themes such as corporate social responsibility, government policies, and global perspectives, aiming to unravel the complex relationship between individual freedoms, social responsibility, and the pursuit of economic well-being. The synthesis of diverse methodologies and perspectives informs a nuanced understanding of the ethical landscapes shaping societies worldwide.
References
Acemoglu, D., & Robinson, J. A. (2012). Why Nations Fail: The Origins of Power, Prosperity, and Poverty. Crown Publishers.
Friedman, M. (1962). Capitalism and Freedom. University of Chicago Press.
Marx, K., & Engels, F. (1848). The Communist Manifesto. Penguin Classics.
Sen, A. (1999). Development as Freedom. Oxford University Press.
Porter, M. E., & Kramer, M. R. (2006). Strategy & Society: The Link between Competitive Advantage and Corporate Social Responsibility. Harvard Business Review, 84(12), 78-92.
Piketty, T. (2014). Capital in the Twenty-First Century. Belknap Press.
Rawls, J. (1971). A Theory of Justice. Harvard University Press.
Smith, A. (1776). An Inquiry into the Nature and Causes of the Wealth of Nations. W. Strahan and T. Cadell.
World Commission on Environment and Development. (1987). Our Common Future (The Brundtland Report). Oxford University Press.
Zadek, S., Evans, R., & Pruzan, P. (Eds.). (1997). Building Corporate Accountability: Emerging Practice in Social and Ethical Accounting and Auditing. Earthscan Publications.
Stiglitz, J. E. (2002). Globalization and Its Discontents. W. W. Norton & Company.
Sachs, J. D. (2015). The Age of Sustainable Development. Columbia University Press.
Sen, A., & Drèze, J. (1989). Hunger and Public Action. Oxford University Press.
World Economic Forum. (2020). Global Competitiveness Report 2020.
World Bank. (2020). World Development Indicators 2020.
Giddens, A. (1998). The Third Way: The Renewal of Social Democracy. Wiley-Blackwell.