Policy-Making Considerations for Ethical and Sustainable Economic Development

Tipakorn Senathip, Bahaudin G. Mujtaba and Frank J. Cavico

Economy, 2017, vol. 4, issue 1, 7-14

Abstract: Leaders of both private and public sector organizations play an important role in bringing about positive and necessary developments in society. This leadership is especially an important consideration for public sector policy-makers to look at the long-term with regards to their policy-making in economic development. Citizens of any society, but particularly an agrarian one, tend to depend on the availability of natural and local resources for their survival and independence. Furthermore, economic development is important for communities and societies to live in a sustainable manner using local resources in a prudent yet efficacious manner. This study looks at the importance of policy-making for economic progress; the study examines the influences on policy-making; and seeks to ascertain how local leaders can take a developmental role in creating and promoting sustainability approaches for citizens, particularly local farmers and consumers. The study, moreover, examines the role of ethics as a branch of philosophy on leadership and the policy-making decision process. The study treats both government and private sector business leaders. Suggestions and recommendations are provided to both types of leaders to help them make effective, moral, and sustainable policy decisions.

Keywords: Policy; Policy-making; Sustainability; Social responsibility; Stakeholders; Ethics; Morality; Leadership. (search for similar items in EconPapers)
Date: 2017
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