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INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016 Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI) |
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| Paper Title: | Economics and Ethics: A Historical Perspective |
| Authors Name: | Anita Rana , Prof. Sunita Singh Sengupta |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJNRD_210008
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| Published Paper Id: | IJNRD2311353 |
| Published In: | Volume 8 Issue 11, November-2023 |
| DOI: | http://doi.one/10.1729/Journal.36956 |
| Abstract: | Economics has evolved from two distinct origins, one from ethics and the other from engineering. Ethics-based economics is concerned with understanding the economy's impact on society, while engineering-based economics aims to develop mathematical models and tools to analyze and solve economic problems. The connection between Economics and Ethics has been discussed since the time of Adam Smith. Thomas Malthus (the inaugural Professor of Political Economy in England), followed the tradition of Adam Smith and regarded Economics as a moral Science. However, later on Classical Economists (David Ricardo, John Stuart Mill) considered Moral Science a backward science and incorporated more Mathematics in Economics. Following them, Neo Classical and Modern Economists (William Stanley Jevons, Alfred Marshall etc) gave more emphasis on Econometrics in Economics and separated Ethics completely from Economics and made it Economics Science. At the close of the nineteenth century, there was censure of the detachment of Economics from Ethics, due in part to a rise in corporate scandals. However, many prominent economists of the twentieth century, such as Amartya Sen, Keynes, Boulding, Young, and Temple Smith, worked to restore Economics as a Moral Science by integrating ethical considerations into economic theory and practice, with the goal of promoting sustainable development for society. |
| Keywords: | Economics and Ethics, Adam Smith, Amartya Sen, William Stanley Jevons |
| Cite Article: | "Economics and Ethics: A Historical Perspective", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.8, Issue 11, page no.d489-d500, November-2023, Available :http://www.ijnrd.org/papers/IJNRD2311353.pdf |
| Downloads: | 000118760 |
| ISSN: |
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID:IJNRD2311353 Registration ID: 210008 Published In: Volume 8 Issue 11, November-2023 DOI (Digital Object Identifier): http://doi.one/10.1729/Journal.36956 Page No: d489-d500 Country: Delhi, Delhi, India Research Area: Management Publisher : IJ Publication Published Paper URL : https://www.ijnrd.org/viewpaperforall?paper=IJNRD2311353 Published Paper PDF: https://www.ijnrd.org/papers/IJNRD2311353 |
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ISSN: 2456-4184
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