On Morality in Economy and Scientific Research

Valeriu Ioan-Franc and Andrei Marius Diamescu
Additional contact information
Valeriu Ioan-Franc: National Institute for Economic Research “Costin C. Kirițescu”
Andrei Marius Diamescu: National Institute for Economic Research “Costin C. Kirițescu”

Chapter Chapter 2 in Constraints and Opportunities in Shaping the Future: New Approaches to Economics and Policy Making, 2024, pp 7-16 from Springer

Abstract: Abstract The call to morals in economics and scientific research hasn’t been completely missing during the last two centuries. However, it was rather secondary to the Smithsonian “invisible hand”. The engine and, at the same time, the central concept of the economic activity since the dawn of the industrial age until today has been and still is “the greatness of profit” without which the contemporary economic thinking seems not to be able to evolve. Reflecting on the last two decades successive economic crises and, especially, on the powerful polarization in the global distribution of wealth, the discussion of this very inequality becomes topical again, making it hard for us to account for the “stubborness” with which the real economy fights the direction of this evolution. The main opponents of moral economics – which we are going to name “the economics of social welfare” – are the big end capital holders and their companies. The economic-financial crisis of 2008 made it clear – if still needed and for how many times yet – that in crisis situations it is still “the many and, sometimes, the needy” who are called to help “the few and the rich”. It is not even 15 years since the heads of the American economy and finance – H. M. Paulson şi B. Bernanke – asked for and saved with “the state’s money”, i.e. of the many, not only the American economy but also the great banks and credit institutions which “ultimately” had generated the crisis. These topics, and not only, framed within the principles of the humanist economy school of Barcelona that our Institute also joined, are the focus of our speech.

Keywords: Moral; Economics; Research; Science (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-47925-0_2

Ordering information: This item can be ordered from
http://www.springer.com/9783031479250

DOI: 10.1007/978-3-031-47925-0_2

Access Statistics for this chapter

More chapters in Springer Proceedings in Business and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().