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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 ...
Positive economics as a science concerns the investigation of economic behavior. [4] It deals with empirical facts as well as cause-and-effect behavioral relationships and emphasizes that economic theories must be consistent with existing observations and produce precise, verifiable predictions about the phenomena under investigation.
Political ethics (also known as political morality or public ethics) is the practice of making moral judgments about political action and political agents. [1] It covers two areas: the ethics of process (or the ethics of office), which covers public officials and their methods, [2] [3] and the ethics of policy (or ethics and public policy), which concerns judgments surrounding policies and laws.
St Thomas Aquinas taught that raising prices in response to high demand was a type of theft. 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 ...
Corporate social responsibility. Employees of a leasing firm taking time off their regular jobs to build a house for Habitat for Humanity, a non-profit that builds homes for needy families using volunteers. Corporate social responsibility ( CSR) or corporate social impact is a form of international private business self-regulation [ 1] which ...
The U.S. Securities and Exchange Commission ( SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. [ 2][ 3][ 4] The primary purpose of the SEC is to enforce the law against market manipulation. [ 5][ 6]: 2. In addition to the Securities Exchange Act of 1934, which ...
Stabilization policy attempts to stimulate an economy out of recession or constrain the money supply to prevent excessive inflation. Fiscal policy, often tied to Keynesian economics, uses government spending and taxes to guide the economy. Fiscal stance: The size of the deficit or surplus. Tax policy: The taxes used to collect government income ...
t. e. Business ethics (also known as corporate ethics) is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. [ 1]