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Economic Ethics
Economic ethics is the combination of economics and ethics that unites value judgements 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'' describes the connection between objective economic principles and the consideration of justice. The academic literature on economic ethics is extensive, citing authorities such as natural law and religious law as influences on normative rules in economics. The consideration of moral philosophy, or that of a moral economy, is a point of departure in assessing behavioural economic models. The standard creation, application, and beneficiaries of economic models present a complex trilemma when ethics are considered. These ideas, in conjunction with the fundamental assumption of rationality in economics, create the link between econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Socrates
Socrates (; ; –399 BC) was a Greek philosopher from Athens who is credited as the founder of Western philosophy and among the first moral philosophers of the ethical tradition of thought. An enigmatic figure, Socrates authored no texts and is known mainly through the posthumous accounts of classical writers, particularly his students Plato and Xenophon. These accounts are written as dialogues, in which Socrates and his interlocutors examine a subject in the style of question and answer; they gave rise to the Socratic dialogue literary genre. Contradictory accounts of Socrates make a reconstruction of his philosophy nearly impossible, a situation known as the Socratic problem. Socrates was a polarizing figure in Athenian society. In 399 BC, he was accused of impiety and corrupting the youth. After a trial that lasted a day, he was sentenced to death. He spent his last day in prison, refusing offers to help him escape. Plato's dialogues are among the most co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Usury
Usury () is the practice of making unethical or immoral monetary loans that unfairly enrich the lender. The term may be used in a moral sense—condemning taking advantage of others' misfortunes—or in a legal sense, where an interest rate is charged in excess of the maximum rate that is allowed by law. A loan may be considered usurious because of excessive or abusive interest rates or other factors defined by the laws of a state. Someone who practices usury can be called a ''usurer'', but in modern colloquial English may be called a ''loan shark''. In many historical societies including ancient Christian, Jewish, and Islamic societies, usury meant the charging of interest of any kind, and was considered wrong, or was made illegal. During the Sutra period in India (7th to 2nd centuries BC) there were laws prohibiting the highest castes from practicing usury. Similar condemnations are found in religious texts from Buddhism, Judaism (''Loans and interest in Judaism, ribbit'' in He ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monopolistic Competition
Monopolistic competition is a type of imperfect competition such that there are many producers competing against each other, but selling products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes. In monopolistic competition, a company takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other companies. If this happens in the presence of a coercive government, monopolistic competition will fall into government-granted monopoly. Unlike perfect competition, the company maintains spare capacity. Models of monopolistic competition are often used to model industries. Textbook examples of industries with market structures similar to monopolistic competition include restaurants, cereals, clothing, shoes, and service industries in large cities. The "founding father" of the theory of monopolistic competition is Edward Hastings Chamberlin, who wrote a pioneering book on the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Catholic Church
The Catholic Church, also known as the Roman Catholic Church, is the largest Christian church, with 1.3 billion baptized Catholics worldwide . It is among the world's oldest and largest international institutions, and has played a prominent role in the history and development of Western civilization.O'Collins, p. v (preface). The church consists of 24 ''sui iuris'' churches, including the Latin Church and 23 Eastern Catholic Churches, which comprise almost 3,500 dioceses and eparchies located around the world. The pope, who is the bishop of Rome, is the chief pastor of the church. The bishopric of Rome, known as the Holy See, is the central governing authority of the church. The administrative body of the Holy See, the Roman Curia, has its principal offices in Vatican City, a small enclave of the Italian city of Rome, of which the pope is head of state. The core beliefs of Catholicism are found in the Nicene Creed. The Catholic Church teaches that it is the on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Age Of Enlightenment
The Age of Enlightenment or the Enlightenment; german: Aufklärung, "Enlightenment"; it, L'Illuminismo, "Enlightenment"; pl, Oświecenie, "Enlightenment"; pt, Iluminismo, "Enlightenment"; es, La Ilustración, "Enlightenment" was an intellectual and philosophical movement that dominated Europe in the 17th and 18th centuries with global influences and effects. The Enlightenment included a range of ideas centered on the value of human happiness, the pursuit of knowledge obtained by means of reason and the evidence of the senses, and ideals such as liberty, progress, toleration, fraternity, and constitutional government. The Enlightenment was preceded by the Scientific Revolution and the work of Francis Bacon, John Locke, and others. Some date the beginning of the Enlightenment to the publication of René Descartes' ''Discourse on the Method'' in 1637, featuring his famous dictum, ''Cogito, ergo sum'' ("I think, therefore I am"). Others cite the publication of Isaac Newto ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philosopher
A philosopher is a person who practices or investigates philosophy. The term ''philosopher'' comes from the grc, φιλόσοφος, , translit=philosophos, meaning 'lover of wisdom'. The coining of the term has been attributed to the Greek thinker Pythagoras (6th century BCE).. In the Classics, classical sense, a philosopher was someone who lived according to a certain way of life, focusing upon resolving Meaning of life, existential questions about the human condition; it was not necessary that they discoursed upon Theory, theories or commented upon authors. Those who most arduously committed themselves to this lifestyle would have been considered ''philosophers''. In a modern sense, a philosopher is an intellectual who contributes to one or more branches of philosophy, such as aesthetics, ethics, epistemology, philosophy of science, logic, metaphysics, social theory, philosophy of religion, and political philosophy. A philosopher may also be someone who has worked in the hum ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Middle Ages
In the history of Europe, the Middle Ages or medieval period lasted approximately from the late 5th to the late 15th centuries, similar to the post-classical period of global history. It began with the fall of the Western Roman Empire and transitioned into the Renaissance and the Age of Discovery. The Middle Ages is the middle period of the three traditional divisions of Western history: classical antiquity, the medieval period, and the modern period. The medieval period is itself subdivided into the Early, High, and Late Middle Ages. Population decline, counterurbanisation, the collapse of centralized authority, invasions, and mass migrations of tribes, which had begun in late antiquity, continued into the Early Middle Ages. The large-scale movements of the Migration Period, including various Germanic peoples, formed new kingdoms in what remained of the Western Roman Empire. In the 7th century, North Africa and the Middle East—most recently part of the Eastern Ro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eudaimonia
Eudaimonia (Greek: εὐδαιμονία ; sometimes anglicized as eudaemonia or eudemonia, ) is a Greek word literally translating to the state or condition of 'good spirit', and which is commonly translated as 'happiness' or 'welfare'. In works of Aristotle, ''eudaimonia'' was the term for the highest human good in older Greek tradition. It is the aim of practical philosophy-prudence, including ethics and political philosophy, to consider and experience what this state really is, and how it can be achieved. It is thus a central concept in Aristotelian ethics and subsequent Hellenistic philosophy, along with the terms ''aretē'' (most often translated as 'virtue' or 'excellence') and ''phronesis'' ('practical or ethical wisdom'). Discussion of the links between ''ēthikē aretē'' (virtue of character) and ''eudaimonia'' (happiness) is one of the central concerns of ancient ethics, and a subject of much disagreement. As a result, there are many varieties of eudaimonism. Defi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oeconomicus
The ''Oeconomicus'' ( grc-gre, Οἰκονομικός) by Xenophon is a Socratic dialogue principally about household management and agriculture. ''Oeconomicus'' comes from the Ancient Greek words ''oikos'' for home or house and ''nemein'' which means management, literally translated to 'household management'. It is one of the earliest works on economics in its original sense of household management, and a significant source for the social and intellectual history of Classical Athens. Some Philologues see the work as the source of the word economy. 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, husbandry, and gender roles through Socrates' conversations about wealth and, more specifically household management. Joseph Epstein states that the ''Oeconomicus'' can ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Xenophon
Xenophon of Athens (; grc, wikt:Ξενοφῶν, Ξενοφῶν ; – probably 355 or 354 BC) was a Greek military leader, philosopher, and historian, born in Athens. At the age of 30, Xenophon was elected commander of one of the biggest Ancient Greek mercenaries, Greek mercenary armies of the Achaemenid Empire, the Ten Thousand, that marched on and came close to capturing Babylon in 401 BC. As the military historian Theodore Ayrault Dodge wrote, "the centuries since have devised nothing to surpass the genius of this warrior". Xenophon established precedents for many logistical operations, and was among the first to describe strategic flanking maneuvers and feints in combat. Xenophon's ''Anabasis (Xenophon), Anabasis'' recounts his adventures with the Ten Thousand while in the service of Cyrus the Younger, Cyrus's failed campaign to claim the Persian throne from Artaxerxes II of Persia, and the return of Greek mercenaries after Cyrus's death in the Battle of Cunaxa. ''Anabasis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Utility
As a topic of economics, utility is used to model worth or value. Its usage has evolved significantly over time. The term was introduced initially as a measure of pleasure or happiness as part of the theory of utilitarianism by moral philosophers such as Jeremy Bentham and John Stuart Mill. The term has been adapted and reapplied within neoclassical economics, which dominates modern economic theory, as a utility function that represents a single consumer's preference ordering over a choice set but is not comparable across consumers. This concept of utility is personal and based on choice rather than on pleasure received, and so is specified more rigorously than the original concept but makes it less useful (and controversial) for ethical decisions. Utility function Consider a set of alternatives among which a person can make a preference ordering. The utility obtained from these alternatives is an unknown function of the utilities obtained from each alternative, not the sum of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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