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Economy And Morals
There is a new branch to economics called moral economics. There are several differences between old economic principles and the new economic principles. The values and ethics of it differ totally. There are many points raised under the subject of moral economy, like the morals of human abilities, trust in the modern economy, and beliefs in the economy. |
The current day economics of the world is a world full of financial games and sometimes, these games include deception and vulnerability as the two sides of the coin. If you do not understand deception, then you will become vulnerable. So, how people cope with being moral and also not being vulnerable at the same time?
Economics is totally dependant on how people spend and earn their money. It is a huge cycle, but a steady one. Also, poor economy leads to poor morals of the society. People tend to get attracted to devious ways of earning money rather than being straight forward and working hard. When life gets difficult, people also lack on morals. Take the example of the recent recession which rendered thousands f people homeless because they could not pay their home loan debts. Several home owners resorted to filing false bankruptcy claims. Suddenly we were seeing an increased level of foreclosures, and half of them were not for genuine reasons. This is related to business ethics also.
In the case of economy and morals, when things go wrong on a large scale, then it is clearly understood that the economy of the country is playing a role in it.
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