Paper Example on Economics: Does It Encourage or Discourage Moral Virtue?

Introduction

Economics and moral virtue have had a shaky relationship with crucial critiques that professionals can group in three major categories. That is to say, the extent to which ordinary economic life holds virtue capacity, whether the analysis experts carry out in economics oversteps its bounds into behavior zones that should have preservations from economics, and whether the study of economics discourages morality. Essentially, philosophers argued people work for other various aspects, for instance, to earn income for necessities like shelter, food, and clothing. In contrast, they are pointing at various human activities that better align with what they refer to as virtuous human behavior. Therefore the approach that this research adopts focuses on different economic crises and conditions affecting society's morality and what it takes for the people to predict future economic conditions.

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Research Objectives

As explained above, economics explains the reality of life experience that humans face at their capacity to afford livelihoods. For this reason, it tells the reasons for the existence of imbalances in the acquisition of wealth. In contrast, morality exposes the illusions that human beings possess at their capacity in virtuous life and how they intend to live their lives well before they die. From the time of Aristotle and other philosophers, there has been a clear distinction showing real economic growth and virtuous well-lived life. Therefore, this study seeks to achieve certain objectives regarding the relationship between real economic life and moral virtue. Primarily, the study aims to understand what the economy does to the presence of a man hindering him from living his dream life before it ends. Additionally, it elaborates on these reasons to outline the impacts of economic challenges and conditions on the morals of human beings and the betterment of his life.

Literature Review Summary

Numerous literature has been coming up to explore this field of research in attempts to seek reasoning on how morality can better the economic life of man. For example, Bacevich and Muellerleile (2018, p. 6) discuss what modern economists do and the procedures and methods they use to teach morality into the current economic situation. Moreover, the positivist approach proves that there is an integral line between economic science and morality. According to Bowen (2016, p. 99), philosophers since the time of Aristotle, have been drawing a line between a life well lived or a virtuous life from the real economic growth. For instance, Aristotle argues that the experience of making money is one that people undertake on compulsion, but wealth is not the good that humanity is seeking. This narrative may sound true because wealth is merely useful for some motives but not entirely for the sake of life and survival.

Besides, Sinai and Shmueli (2020, p. 25) argue that compulsions and necessities of the work-life of human beings have other aspects. For this reason, it is not clear whether the ordinary economic life holds the capacity of virtue. More conspicuously, Kantianism and utilitarianism are the two major traditions in philosophy; They place the foundation of morality in the legal notion making it an obligation and a duty (Baron 2018, p. 103). Essentially, philosophers argued people work for other various aspects, for instance, to earn income for necessities like shelter, food, and clothing. In contrast, they are pointing at various human activities that better align with what they refer to as virtuous human behavior. As a result, as much as economic life brings reality to human life, the pride that man finds in morality creates the eternal link between the two. However, fact brings virtue to morality, while economic statuses tell the truth about the state of a man’s life.

Research Approach

Following the study's scope, several economists and philosophers have been on the front line arguing over morality and the economy. It makes the current researchers develop more argumentative insights on what history has been making contributions through a set of theories and hypotheses. Therefore the design of this research study will suitably take the deductive approach with the help of both primary and secondary sources.

Research Methodologies

As mentioned above, the processes, strategies, and techniques that the study will implement bases on using facts from both primary and secondary sources. Therefore, primary data collection from a set of adults of 18 years of age who economically depend on themselves will be vital for the study. The ideal sample frame for the study will be between 60 to 100 participants drawn from poor and middle-class individuals. Besides, the excellent secondary data and reports that the study will build on will come from reviewed journals that have in-depth reports on morality virtue and the economic life of man. After that, qualitative data collected will undergo analysis, and a comprehensive report will come out of the study.

Conclusion

The research hypothesis considers investigating economic crises and conditions and how they affect the morality of human life. Therefore, the study aims to achieve a more comprehensive understanding of how economic trends challenge society's morality. Eventually, the recommendations of the study will inform the users of the study findings of the reality of life that economic turbulences can course to the virtue of society.

Reference List

Bacevich, J., and Muellerleile, C., 2018. The moral economy of open access. European Journal of Social Theory, 21(2), pp.169-188.

Baron, M.W., 2018. Kantian ethics almost without apology. Cornell University Press.

Bowen, D., 2016. The economics of morality. Journal of Practical Ethics, 4(1).

Sinai, Y. and Shmueli, B., 2020. Maimonides and Contemporary Tort Theory: Law, Religion, Economics, and Morality. Cambridge University Press.