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Developing a Moral Philosophy of the Good life: Interweaving work, Business and Economics

Categories: Philosophy

  • Words: 2362

Published: Sep 12, 2024

Introduction

Human beings constantly search for a road leading them toward a life marked by purposefulness, meaningfulness, and fulfillment in living. The search is often guided by moral theology and philosophy, which provides direction for a person's conduct to be consistent with notions of what constitutes a good life. This essay aims to build morality about ethics in business, economy, work, and business within a flourishing life. Using ideas from the main points, this discussion will construct an embroidery that will build up human dignity, ethical business operations, socio-economic fairness, and the virtuous development of character.

Interweaving Human Dignity and the Common good

One such classic is the book “Theology and Economics: God, Faith, and Money” by Professor Stephen Long, which concerns the inherent worth of every person and forms the basis upon which the inherent integrity of man is established. Firstly, it is important to recognize this in our quest for a good life because it will serve as the guiding principle as we build our moral philosophy. Respect for human dignity is an imperative, a natural outcome of which is the common good becoming inseparable from everyone's welfare (Stephen, 172). As we begin weaving these strands, our moral system emerges with respect and commonwealth as the founding ideals.

Ethical Threads in the Business Tapestry

According to exploring business ethics in “Economic Possibilities for Our Grandchildren” by John Maynard Keynes, businesses should be based on relevant moral duties and obligations. Using John Keynes's ethics in our work ensures that all economic activities are ethical, according to John Keynes, which creates an atmosphere of truthfulness, fairness, justness, and a sense of mutual respect and appreciation among the people involved in the business. Such threads of ethics are tightly interwoven with the patterns of business practice constituting the basic elements of our moral philosophy, which form a composite relationship between the efforts of the economy and the principles of living rightly.

Businesses can benefit from strong John Keynes ethics based on strict categorical imperatives. People and companies should not engage in actions that dehumanize other people and turn them into mere objects used to achieve some goals (John, 3). It means that when it comes to business, there is honesty, openness, and fairness in all matters. For instance, a situation in which a firm is confronted by an option whose implementation may cause substantial damage to its rivals. In a John Keynes approach, the business would have to consider whether it shows respect to the competitors as one would expect for themselves. A decision related to deceit or immoral practices would contravene the ethics of a John Keynes perspective and the ethic of the intended constructional framework for the good life. Consequently, John Keynes's ethics create a strong moral framework for business decision-making towards benefiting society while pursuing virtuous living.

The Tapestry of economic justice and Catholic Social teaching

The vast world of economics or economy is another area in catholic social teaching where we can easily find a variety of threads. Works like Encyclicals of "Rerum Novarum" and "Caritas in Veritate" are good at giving much more attention to how societies should deal with economic disparities morally. Moral catholic social teaching thus becomes a component of the fabric of our morality, calling for humane economic structures. Economic Justice in the Pursuit of Good Life requires that inequality be removed to create a fairer and better place to live. It is one complete moral philosophy and provides individuals, businesses, and society with an overall solid foundation for one to stand in today's world (Nabi, 22). Instead, it builds on different moralities to realize the good life because such simplistic dichotomies fail. Here, humanity, moral business, and economic justice are seen.

Catholic social teaching takes a total approach to economics and justice, recognizing more than just redressing matters of inequality, honorable labor, rights to work, and the subsidiarity principle. In the context of catholic social teaching, economic transactions are considered more than just commercial acts but also expressions of mutual support. It goes perfectly with the general objectives inherent in our moral philosophy, where living a good life is closely related to the welfare of the entire community. As a case in point, the principle of subsidiarity suggests that decisions or actions must be taken at the grassroots level to enhance active participation and promptly address individual and community needs. The principle is used to make economic structures more open and encourages the diversification of economic power regarding individualized control of economic destiny. Firstly, this decentralization corresponds well with the fundamental notions of the good life, encouraging one's agency and involvement in one's community.

Virtues in the loom of the workplace

The idea of virtues as a building block to our moral fabric is proposed by Hawkins's virtue, which is expounded in "Modernity and Victorians." Virtue ethics promotes the development of desirable character traits like truthfulness, uprightness, and mercy. It is also relevant in the workplace to ensure that employees seek perfectionism and develop a positive spirit among those with whom they interact. While these virtues are woven into the professional body cloth, they form part of the aligned good life pursuit, showing the combination of personal and professional advancement coexistence.

Character is vital in virtue ethics but more intricately defined than that. Hawkins contends that people should strive to achieve a mean between too much and not enough as they develop virtues. As an example, courage is located somewhere between cowardice and recklessness. Cultivation of virtues like honesty and integrity in the workplace entails that there should be some level of moderation so that the worker does not either become too shy or speak out loud all the time. According to Hawkins, positive personal attributes such as virtue ethics become the fabric on which excellence and community engagement are woven in the workplace. Halteman James's ideas make it possible for us to traverse the ethical minefields of market operation by accepting the market as one element of our being while simultaneously providing that this acceptance be done subject only to the ethics which will ensure that essential parts of humanity remain immune.

Market dynamics

The development of this philosophy has taken a more sophisticated path since the scrutiny of the market by Halteman James in "What Money Cannot Buy." James's critique questions whether markets are fair enough to allocate all goods and services based only on morally neutral terms. It means reconsidering the ethical boundaries of the markets and the ethics in all financial transactions. Inherent in our moral paradigm is the idea that the market becomes an instrument of human flourishing, albeit ethically constrained, so it does not become a commodity.

Halteman 's criticism gives us reason to explore the moral aspects that arise when we allow market mechanisms to be an ultimate determinant in all areas of our lives (James, 9). For example, if the distribution of essential goods and services is based on purchasing power only, then those essential things for people's lives get commercialized. Although efficient at some point, the market should guide some values to correct injustices and fulfill the meaning of the "good life" concept. In particular, issues concerning markets about education, health care, and environmental commodities should be considered about commodification. When these basic elements for a decent life start depending on the whims of the markets, their availability is determined by means and not regarded as entitlements. Our moral philosophy sets ethical boundaries for the market, demanding equilibrium where markets do not exploit human thriving but instead respect fundamental values.

The moral philosophy is also based on utilitarian grounds on navigating through the ethical morass of market dynamics (Malladi, 9). This approach combines a utilitarian notion of maximizing overall happiness or well-being with a deontological concept of universal human dignity. Therefore, through this act, we maintain that the quest for happiness in the market does not disregard ethical issues. The utilitarian equation should consider preserving personal dignity and the common interest of preventing the market from becoming an unintended mechanism that exposes more inequality and removes the basis for a good life.

Conclusion

Therefore, it takes the thread of human dignity, righteousness in business, the rights to the economy, and good principles to form an elaborate piece of cloth representing the process of the philosophy of the good life. By analyzing the perspectives of Niebuhr, Boar, Catholic Social Teaching, Hawkins, and Halteman, this framework has developed an intricate model incorporating work, business, market, and economic values into a virtuous and flourishing living. Every strand is valuable and contributes to a community where people strive for perfection and a life well-lived. Human dignity as a principle acts as a point of guidance that leads to a community in which people are respected.ҽ Economic endeavors should be founded on honesty,

justice, and mutual respect, which characterize ethical business practices. Catholic Social Teachings present the economic justice principle, which seeks to develop structures aimed at promoting the welfare of individuals in order to achieve a fairer world.

Works Cited

Halteman, James. "Book Review: Mary L. Hirschfeld, Aquinas and the Market: Towards a Humane Economy." (2021): 1–16.

Hawkins, Angus. Modernity and the Victorians. Oxford University Press, 2022.: 1-7 John Maynard Keynes, “Economic Possibilities for our Grandchildren (1930):1-4

Malladi, Rama. "HARI: Characteristics of a new defined lifestyle (DL) retirement planning product." Journal of Financial Services Marketing (2022): 1–17.

Nabi, Nasir. "The Economic Thought of Sayyid Abul A ‘la Mawdudi.":1–30.

Theology and Economics: God, Faith and Money RELI 3369 Professor D. Stephen Long:165- 176

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