The Role of Ethical Premises in Economics and Finance

Ferruccio Marzano

STUDI ECONOMICI, 2008, vol. 2008/94, issue 94, 33-64

Abstract: The Role of Ethical Premises in Economics and Finance - After having dealt with the relationship between the real economy aspects and moral "values" and "norms" in previous articles (see F. Marzano, 1992, 1998a, 2001a, 2003b, 2004), in the present paper I intend to go further in the same direction and in particular to look at the way in which ethics, economics and finance may relate each other. Hence, in the paper, I shall be concerned with the two-way relationship between economic/financial "matters" and ethical/moral values and norms. In general, I will show that any "problem" or "concern" in monetary/financial matters, as well as in economic ones, will not be "determinable" unless reference is made to (at least) one external proposition. In particular, whereas, as to the real economy problems, this is the case with reference to an externally determined distributive variable, in monetary/financial matters reference will be made to three so called zones, such as a white zone, as to which a positive judgement may always be expressed, a black zone, as to which a negative judgement may always be expressed, and a grey zone, as to which a specific judgement may only be expressed by reference to specific moral values and norms.

Date: 2008
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