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Phl 200 Ethics And Economics Paper

619 Words3 Pages

Emily Herman
Hickman, Andrew
PHL 200
16 April, 2015
ETHICS and ECONOMICS Ethics and economics are two interesting topics. Economics revolve around ideas that can motivate people in how they manage and live their lives and ethics is based on a person’s values. Economics is part of what helps make the world go round and thrive or struggle as it does. Although some may not realize it, these two topics can go together. This is shown in the article Ethics and Economics. This article discusses the meaning of ethics and the meaning of economics and how the two are intertwined. The article written by Stephen Hicks starts off by asking whether or not capitalism is good by asking questions of whether the work of the laborers is good and if competition brings out the best in people (Hicks). From here the article branches off into discussing what ethics is and continues on to the next topic of how it connects with economics. One of the examples Ethics and Economics portrays is that of a cost-benefit analysis and how having one hundred dollars and deciding whether to spend it on a night out or for a political campaign and …show more content…

This can vary based on people’s beliefs and views. From here another point is brought to attention who should be the recipient of these goods which is more based on self interest and whether or not this is ethical (Hicks). From this arguments for how this should be viewed are discussed. Finally the article goes on to discuss more contemporary issues and how people can act off a belief that by doing something like recycling is good and needed because of our low resources but it also has certain costs like the pollution caused by having trucks to pick up recyclables and the money it takes to make recyclable bins as well as the time it takes to sort out what can be

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