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ECONOMICS OF MAHAVIRA
hand, there is the possibility of its diminution. Even then, alcoholic industry is a subject for study by economists because production of alcohol is an economic activity and many people earn their living out of this industry.
Difference in Characteristics This difference in the points of view of Theology and Economics is a difference of basic characteristics. This becomes clear from a comparative study of the nature of both.
1. Ethics present an ideal of life before a man. Economic
. principles study the economic aspects of human behaviour. 2. Neglect of moral principles generates self-remorse. Violation
of economic principles does not create self-remorse. 3. Pursuit of moral principles leads to spiritual progress of man.
Pursuit of economic principles leads only to economic development
Effect of Ethics on Economics All this does not mean that there is a complete absence of ethics is Economics. The economists accepting the virtues of honesty, straightforwardness and the like in the form of factors determining working skills cannot totally ignore morality. Economics and Ethics — both are special sciences. Both study human behaviour. In Economics, the economic aspect of human behaviour and in Ethics, the normative aspects are studied. Ethics presents human norms of behaviour. It tells us what should be our conduct. Ethics provides guidelines for the differentiation between fair and unfair, and tells us what should be done and what should not be done. Economists, while taking economic decisions and giving directions for human behaviour, cannot ignore the essentials of Ethics. For example, Marshall, on the basis of morality, excluded prostitution from his concept of productive labour. As Prof. Saligman has said, the real economic activity should be in its impact. In this way, the economist formulates the economic policy which cannot overlook the ethical aspects.
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