In financial markets there are ethical and non-ethical behaviors, however speculation is frequently criticized for not being morally proper. Speculation has positive effects over the economy, but this kind of financial activities lend themselves to abuse. In this article, analysis of...

This Article explores the way in which American views regarding the morality of money affect tax debates and legislation. Part I traces and summarizes the roots of society's contradictory attitudes toward money and wealth which celebrate the accumulation of wealth on the one hand and the more...

This paper considers the economic status of the members in Ptolemaic religious associations and offers a model to explain why they participated. Drawing on Charles Tilly's comparative study of trust networks, I suggest that religious associations institutionalized informal ethical norms into...

The editing of a handbook of research on Global Islamic Finance is more exciting and challenging than ever before. The past three decades have been an eventful one for the proponents of Islamic finance. Islamic Finance has become a buzzword from G20 to World Economic Forum to global and national...

Climate change raises challenging questions in the economics of risk, space, time and in broader aspects of human well-being. Many of these are normative questions, which cannot be addressed without engaging with difficult ethical issues. The relationship between economics and ethics cuts both...

One possible solution to mitigate the negative influences of conflict which has been proposed in the literature is to subject the relevant parties to education. Education can take two forms: increasing an individual's human capital on the one hand, increasing her social capital on the other...

The evolutionary explanation of human dispositions to prosocial behaviour and to moralization of such behaviour undermines the moral realist's belief in objective moral facts that hold independently of people's contingent desires. At the same time, advocacy of preferences for radical large-scale...

This essay shows that government credit-allocation schemes generate incentive conflicts that undermine the quality of bank supervision and eventually produce banking crisis. For political reasons, most countries establish a regulatory culture that embraces three economically contradictory...

Adam Smith wrote two major books - The Theory of Moral Sentiments (TMS) and The Wealth of Nations (WN). Usually WN is described as the book promoting self-interest and TMS as the book promoting benevolence or sympathy, but not self-interest. The two books are generally described as either...

This paper offers a reinterpretation of quot;Adam Smith's problemquot; and reconsiders the relation between ethics and economics. It makes a critical revision of the attempts that seek to solve this problem, proposes an alternative framework constructed on the Smithian concepts of sympathy and...