Ethics in Economics

Personal choice

Profit and efficiency

Sympathy for others

Corporate social responsibility

Acting on empathy is counter-productive

Selfish behavior leads to better outcomes

Cost-benefit analysis justifies ethical decisions

Empathy should only be directed towards others

Having the right character

Achieving the best outcomes

Following a list of commandments

Balancing extremes

Character

Consequences

Actions

Psychology

Agreement on where ethics applies

The need for character development

The importance of consequences

The flaws of the free market

Behavioral economists

Neuroscientists

Business leaders

Economists themselves

Predicting ethical decisions

Reacting to economic injustice

Accepting moral laws

Processing relevant facts

They consistently earned greater profits than regular coffee.

They did not fluctuate.

They increased between 2004 and 2006.

They were equal to regular coffee profits by 2008.

2000 to 2002

2002 to 2004

2004 to 2005

2006 to 2008

Acting on empathy can be counterproductive

Ethical economics is defined by character

Ethical economics is still possible

People fear losses more than they hope for gains