Economic Justice
Ethical issues arise in every aspect of economics and economic policy making.
—Joseph Stiglitz (2005)
Economics only matters if it contributes to solving the economic and social problems currently facing humanity. Therefore, in the best tradition of a Catholic university, members of ECOP have long been concerned about the ethical and moral dimensions of economics—from how debates take place within the discipline of economics to the impact of economic policies on the poor and other vulnerable groups in society.
The fact is, unlike medicine and anthropology, there is no professional ethics in economics. But issues of ethics and justice come up in many different areas of economics:
- how disputes are handled among economists who work in different theoretical traditions and using different approaches
- whether scholars and students are able to recognize the limits of economic knowledge
- the importance of taking into account the risks of enacting particular economic policies and strategies
- the impact of economic policies, especially on the poor and other socioeconomic groups who are most adversely affected by current economic arrangements
