Economics as a moral science

This chapter focuses on questions concerning ontology and ethics. It discusses how values inherent in society and the economy have an influence on decision making, and how ethical considerations influence the interplay between the actors in the market. Amitai Etzioni (Germany/Israel), Amartya Sen (India) and Laszlo Zsolnai (Hungary) argue that economics is a moral science. These three contributors share the communitarian approach which accepts the interrelatedness between all actors. Even if their main focus is on ethical questions concerning fairness and trust they also discuss ethics in relation to nature and ecology. Amitai Etzioni argue that changing the normative culture would shift public perceptions to view these changes as an opportunity to abandon consumerism. Sen argues that the objective of sustainable development requires a clarification of what is to be preserved. Laszlo Zsolnai has made substantial contributions in business ethics and Buddhist economics.