TY - JOUR
T1 - Markets need morality
T2 - perspectives from Islam, Christianity, and China
AU - Leightner, Jonathan Edward
N1 - Publisher Copyright:
© 2019, Emerald Publishing Limited.
PY - 2019/11/29
Y1 - 2019/11/29
N2 - Purpose: This paper aims to argue that markets need a foundation of morality to promote the long-run success of an economy. Design/methodology/approach: Three types of ethical theories are discussed and compared with what the sacred scriptures of Islam and Christianity say and with what economic theory says. Examples from China are provided. Findings: Markets need morality. Research limitations/implications: There are more religions in the world than just Islam and Christianity; however, space limitations force me to only consider those two religions. Furthermore, there are more countries in the world than just China. However, space limitations force me to only pull examples from China. Practical implications: Economists should recognize that markets need morality, and they should start teaching that to their students. Social implications: If markets are built on a foundation of ethics, then society prospers. In the absence of that foundation, societies falter. When a government, business and religious institutions see each other as complementary forces, then ethics can evolve. Originality/value: The author knows of no other studies that explain the three types of ethical theories, compares those theories to what the sacred scriptures of Islam and Christianity say and to what economic theory says, and then uses examples from China to illustrate the need for morality.
AB - Purpose: This paper aims to argue that markets need a foundation of morality to promote the long-run success of an economy. Design/methodology/approach: Three types of ethical theories are discussed and compared with what the sacred scriptures of Islam and Christianity say and with what economic theory says. Examples from China are provided. Findings: Markets need morality. Research limitations/implications: There are more religions in the world than just Islam and Christianity; however, space limitations force me to only consider those two religions. Furthermore, there are more countries in the world than just China. However, space limitations force me to only pull examples from China. Practical implications: Economists should recognize that markets need morality, and they should start teaching that to their students. Social implications: If markets are built on a foundation of ethics, then society prospers. In the absence of that foundation, societies falter. When a government, business and religious institutions see each other as complementary forces, then ethics can evolve. Originality/value: The author knows of no other studies that explain the three types of ethical theories, compares those theories to what the sacred scriptures of Islam and Christianity say and to what economic theory says, and then uses examples from China to illustrate the need for morality.
KW - China
KW - Christianity
KW - Islam
KW - Morality
UR - http://www.scopus.com/inward/record.url?scp=85078941661&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85078941661&partnerID=8YFLogxK
U2 - 10.1108/IJOES-12-2017-0225
DO - 10.1108/IJOES-12-2017-0225
M3 - Article
AN - SCOPUS:85078941661
SN - 2514-9369
VL - 36
SP - 73
EP - 86
JO - International Journal of Ethics and Systems
JF - International Journal of Ethics and Systems
IS - 1
ER -