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Economic ethics

(5,069 words)

Author(s): Köster, Roman | Mittag, Achim
1. Europe 1.1. TermThe term economic ethics refers, first, to the attitudes that underlie actions in the individual economy; secondly it describes normative notions of right and just economic activity. The setting of social standards in economic activity does not necessarily coincide with actual practices; divergences give cause for economic-ethical reflection.How a particular economic ethics becomes effective in the economy is evident on the basis of the question of the connection between economic-ethical notions and the relevant economic ord…
Date: 2019-10-14

Classical economics

(2,216 words)

Author(s): Plumpe, Werner | Köster, Roman
1. DefinitionThe expression classical economics (or classical  political economics [5. 19–21]), originally coined by Karl Marx, denotes an era of economic thought extending roughly from 1750 to 1850, primarily in the context of the British and French Enlightenment. Its most important protagonists include Adam Smith, David Ricardo, Thomas Malthus, Jean Baptiste Say, and John Stuart Mill. The term  classical is meant to indicate that in these authors economic theory in a sense found its classic expression: here were fashioned the concepts and theore…
Date: 2019-10-14

Economy

(6,834 words)

Author(s): Plumpe, Werner | Köster, Roman
1. Introduction 1.1. GeneralBetween the 15th and 19th centuries, the economy – understood as an umbrella term for the material replication of human life and the specific nature of the associated material exchange relationships – underwent a dramatic process of change. This change cannot be reduced to obvious phenomena like the increase in manufactured goods and services and the associated rise in the general level of prosperity, the proliferation of technological knowledge, and the expansion of tra…
Date: 2019-10-14
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