Towards the integration of ethics and economic development: An institutional approach

This paper offers a novel conceptual framework based on decision‐making institutions, structures and principles, for a systemic integration of ethics and economic development. Within this framework ethical issues are systematically incorporated into the main components of the decision‐making process for sustained economic and ethical development. These components include an optimal decision‐making structure based on merit and justice, proper decision‐making procedures, reliable information flows, rational and moral decision‐making criteria, and an effective motivation structure that includes both material and moral incentives