For a new global economic system, an un-economic conviction ethics, which fails to
take regard for the needs of economic processes – an ethic beloved by many religious
leaders and trade unionists – is not the answer.
The insistence on moral demands without taking account of economic rationality is not an
ethics but moralism pure and simple.The insistence on moral demands without taking account
of economic rationality is not an ethics but moralism pure and simple.
No less ill-suited for a new global economic system is a purely success-oriented
ethics without moral convictions — a kind of ethic beloved by many managers and
management counsellors. To insist dogmatically on a purely economic evaluation
of actions without regard for ethical norms is economic reductionism: “economism”.
The pursuit of one's own economic interests in economic activity must always answer to
ethical norms, even when, in concrete situations of competition, this might seem to be
asking too much.
For a new global economic order, there is no alternative to an ethic of responsibility that convincingly combines economic strategies with ethical judgments.
When one proposes realistically to bring ethics into play in the economy, then it is
necessary to take into account that the economic process itself calls for ethical considerations.
Ethic of responsibility
– A responsibility ethic presupposes that one has convictions,
ideals and values regarding the economy, but it also asks realistically
about negative consequences of economic decisions and takes responsibility for them.
– Responsible economic activity means bringing together economic
strategies and ethical judgment.
