The Ethics-Economics Nexus: Contrasting Views from Classical to Modern Schools of Economic Thought

Yıl 2025, Cilt: 75 Sayı: 2, 600 - 613, 15.01.2026

İsa Yılmaz

https://doi.org/10.26650/ISTJECON2025-1804254

https://izlik.org/JA25MJ52FC

Öz

The relationship between ethics and economics has remained a central and evolving concern throughout the history of economic thought. Although neoclassical economics has long sought to establish itself as a value-neutral science, this effort has not erased the deep ties between moral philosophy and economic theory. Addressing the fundamental question of whether economics can truly function independently of ethical value judgments, this paper rigorously examines the ethics-economics nexus through the tripartite lenses of utilitarian, deontological, and virtue ethics. This study contributes to the literature by challenging the fragmented view of ethics in modern economics and re-evaluating the continuity in classical thought—specifically the integrity of Adam Smith’s moral and economic vision. Furthermore, it analyzes contemporary divergences found in heterodox approaches like socioeconomics. Ultimately, the paper argues that acknowledging economics as an inherently value-laden field, rather than treating ethics merely as a palliative measure, is essential for a comprehensive understanding of social reality.

Anahtar Kelimeler

Ethics and economics , Virtue ethics , Adam Smith

Kaynakça

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