The ethics of a globalized world: a universal ethic?

Horácio Faustino (), Ana Kaizeler and Rafael Marques

No 2009/20, Working Papers Department of Economics from ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa

Abstract: In a global economy, global and universal ethics are a necessity. How can ethics be connected to the economy in an interdependent world? From all the different theories on ethics, which should we choose? Do utilitarianism and the maximization of utility promote the happiness of all or do they promote selfishness? What are the roles of international institutions in the definition of and respect for universal duties and rights? What is the relationship between the two waves of globalization and income distribution inequality around the world? These are questions that this paper raises and attempts to answer, putting forward some contributions towards the definition of a global ethic based on duties, virtues and fraternity; a universal ethic reconciling partiality in feelings with the impartiality of duties; an ethic which combining justice with solidarity and in which the means justify the ends. Key Words: Ethics, Moral, Globalization, Utility, Justice, Solidarity.

JEL-codes: A13 F01 F02 F13 I38 (search for similar items in EconPapers)
Date: 2009-03
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