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Integrative Economic Ethics

Integrative economic ethics is a term coined by Peter Ulrich in his original work, Integrative Wirstschaftsethik, with the latter term literally translated as “economic ethics.” It addresses issues of how to best integrate the study of ethics, economics, and political theory, something that had not been done to date in the Anglo-Saxon literature. According to Ulrich, business ethics should not be conceived as “applied ethics” where the economic rationality of business firms is not questioned and ethics is seen as an antidote to unrestrained economic activities. Instead, integrative economic ethics tries to redefine the normative aspects of economic activity itself and rejects the idea that practical reason in economic life is exclusively concerned with individual interest satisfaction. Ulrich’s objective is to find an ethically integrated ...

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