scholarly journals Ethics and economics in the world of globalized finance

2020 ◽  
Vol 25 ◽  
pp. 95-112
Author(s):  
Umberto Triulzi
Keyword(s):  
Social Inclusion ◽  
Business Models ◽  
Well Being ◽  
Real Economy ◽  
Wealth Maximization ◽  
Ethics And Economics ◽  
Self Interest ◽  
Asset Class ◽  
The Eu

The paper analyzes the reasons that led, in the years following the nineteenth century, to a vision of economic phenomena distant from ethics. After a brief introduction on the meaning of the concept of economics in the ancient world, the article describes which factors contributed most to developing an image of human behaviour motivated only by perfect rationality, self-interest, wealth maximization, showing the reasons that have separated economics and finance from ethics. The paper then deals with the theme of how to bring finance closer to the real economy starting from the need to search for solutions capable of producing radical changes in the business models of companies and in the financing investments aimed at maximizing social inclusion and collective well-being. The final part describes the initiatives promoted by the EU for the development of the Capital Market Union and the instrument recently introduced by the EU to develop finance long-term investments, the ELTIFs. In the conclusion, we present a proposal for the creation of a new innovative asset class, the Infrastructure Mortgage Backed Security, for the promotion of investments in infrastructures responding to the needs of investors and requiring business models based on shared ethic values and on the responsibility of all the agents working inside and outside the companies.

scholarly journals INCLUSIVE DEVELOPMENT OF UKRAINE’S REGIONS IN THE CONDITIONS OF EUROPEAN INTEGRATION

2021 ◽  
Author(s):  
Juliia Poliakova ◽  
Larysa Yaremko ◽  
Galyna Bublei
Keyword(s):  
Economic Development ◽  
Business Models ◽  
Well Being ◽  
Inclusive Development ◽  
Eu Member States ◽  
Social And Economic Development ◽  
States Experience ◽  
Smart Specialization ◽  
The Relationship ◽  
The Eu

The article is devoted to substantiate the foundations of an increase of the level of inclusiveness of economic development of the regions of Ukraine on the basis of development of the strategy of reasonable specialization. The directions of implementation of the EU member states’ experience on ensuring economic development on the basis of inclusiveness in the strategic programme documents of Ukraine are highlighted. The importance of using innovation in the process of ensuring inclusive economic growth and social well-being is emphasized and the relationship between innovation, inclusiveness and well-being is shown. The assessment of differentiation of social and economic development of the regions of Ukraine is carried out. The stages and directions of development of the regional strategy of smart specialization for the regions of Ukraine, which provides for the use of innovation results, construction of new innovative business models with a focus on solving social problems and

Self-interest

2018 ◽  
Author(s):  
John O’Neill
Keyword(s):  
Economic Theory ◽  
Well Being ◽  
The Good Life ◽  
Ethical Theories ◽  
Self Interest ◽  
Institutional Contexts ◽  
Virtuous Life ◽  
The Individual ◽  
Other Regarding

The concept of self-interest is used in two distinct ways. It sometimes refers to what is in a person’s interests, to well-being understood as what makes their life go well. Self-interest can also refer to a motive or disposition of character: persons are said to act from self-interest when they aim at their own good or to be self-interested when they are disposed to pursue their own good. Are humans always really motivated by self-interest? Psychological egoists believe that all actions, including apparently other-regarding actions, spring from self-interested motivations. Some arguments for this view depend on a fallacious inference from the claim that a person gets pleasure from the satisfaction of an other-regarding desire to the claim that the agent acts in order to get pleasure. Recent appeals to the assumptions of economic theory also fail to establish the universality of self-interested motivation. The weak assumption that individuals aim to maximize preference-satisfaction does not entail that they are self-interested. Stronger assumptions about self-regarding interests used in the explanation of behaviour in markets cannot be extended to explanations of behaviour in non-market settings. Individuals’ identities are constituted by a variety of roles, relations and commitments, and in different institutional contexts under different descriptions individuals can have distinct and sometimes conflicting conceptions of their interests. What is the relation of self-interest and morality? Classical theories of morality claim that the virtuous life is the best life for the individual. This view ties morality to what is in a person’s interests. But this does not entail that agents are necessarily motivated by self-interest. In contrast, some contractual theories tie morality to self-interested motivation: moral rules are those that agents motivated by self-interest would agree upon in order to realize their long-term good given a rough equality of power. Ethical theories in the Kantian tradition reject any justification of ethical obligations that appeals to self-interest. In claiming that commitments to others and excellences of character are part of the good life, however, classical theories can avoid the more plausible versions of Kantian objections.

Green Economy and The Dimensions o f Sustainability

2018 ◽  
Vol 9 (10) ◽  
pp. 909-914
Author(s):  
Alfredo Mario Baronio ◽  
Keyword(s):  
Social Inclusion ◽  
Production Systems ◽  
Geographical Area ◽  
Well Being ◽  
Economic Resources ◽  
Green Economy ◽  
Participatory Governance ◽  
Economic Progress ◽  
Temporal Frame

Green economy is a tool aiming at the development of society; prosperity without draining resources; and return on investment without neglecting the protection of the environment, long-term economic growth, social inclusion, and institutional action towards human well-being. The ecological, economic, social, and institutional dimensions demand ecosystem services, economic resources, social participation, and adaptive management to bring about a healthy and equitable environment, economic progress, prosperity and equitable social opportunity, and participatory governance contributing to well-being. This work presents a proposal for the assessment of sustainability through the acknowledgment of its multidimensional nature and the interrelations among such dimensions, with the purpose of enabling its application to different production systems based on the resilience of socioecological systems in the geographical area and temporal frame in which they are embedded.

Well-Being. Employee Well-Being Management to Increase Labor Productivity — Improving HR and Business Performance of the Company

2020 ◽  
Vol 9 (4) ◽  
pp. 8-17
Author(s):  
N. Nagibina ◽  
E. Vakul'skaya ◽  
E. Pestereva
Keyword(s):  
Labor Productivity ◽  
Organizational Support ◽  
Business Performance ◽  
Social Inclusion ◽  
Business Models ◽  
Negative Impact ◽  
Well Being ◽  
World Market ◽  
Routine Work ◽  
The One

Well-being management of employees, which is gaining momentum, is a trend in Russian companies, is not new for the world market. HR–industry, faced with new and unexpected challenges, is in constant search of relevant approaches to attracting, revealing and retaining talents. The tasks of improving HR and business indicators, among which labor productivity, product and service quality, profitability, are especially relevant in times of increasing competition of business models. Automation and digital technologies free people from routine work, directing their potential to solving intellectual problems – on the one hand, they cause stress and deprive human attention – on the other. It is attention to the person, feedback and trust communication that are key factors in increasing engagement. It is proved that a prosperous person is more involved and productive, less tired and sick – the company bears lower costs and gets better results. According to the Gallup version, there are five elements of human well-being-career, social and financial; social inclusion and physical well-being should be closely monitored by company management. Based on benchmarking, the project team presented the results of Well-Being research as a new vector in HR management to understand the features of the concept and formulate programs to improve the well-being of employees in a group of companies (the customer). In the absence of a wide representation of domestic studies and company practices in the field of Well-Being, the authors relied on foreign studies to help employees comprehensively study and shape the best employee experience and organizational support programs for well-being. Over the past decade, the stress associated with work has an increasingly negative impact on the person and his production activities, which led to the article development of the HR-Tech market. The cluster of providers of well-being with a personal position and organizational support is actively developing.

The Mythical Value of Voice and Stewardship in the EU Directive on Long-term Shareholder Engagement: Rights Do Not an Engaged Shareholder Make

2018 ◽  
Vol 20 ◽  
pp. 88-115 ◽  
Author(s):  
Deirdre AHERN
Keyword(s):  
Corporate Governance ◽  
Shareholder Rights ◽  
Executive Pay ◽  
Related Party Transactions ◽  
Shareholder Engagement ◽  
Eu Directive ◽  
Self Interest ◽  
Regulatory Impact ◽  
The Eu

AbstractThrough the lens of assessing the likely regulatory impact of the 2017 EU Directive on Long-term Shareholder Engagement and its amendments to the 2007 Directive on Shareholder Rights, this article considers the mythical voice and stewardship role attributed by the EU to shareholders as active corporate governance gatekeepers and drivers of its long-term sustainability agenda. It identifies limitations of the Directive itself and practical challenges concerning the provisions on shareholder identification, executive pay, related party transactions, proxy advisors and shareholder engagement policies. It is argued that there is a considerable normative gap between the EU narrative of engagement and the challenge of engaging shareholders away from self-interest and rational apathy to fulfil a stewardship role.

Coronavirus (Covid-19) and entrepreneurship: cultural, lifestyle and societal changes

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Vanessa Ratten
Keyword(s):  
Crisis Management ◽  
Design Methodology ◽  
Business Models ◽  
Well Being ◽  
Content Type ◽  
Societal Changes ◽  
Short And Long Term ◽  
Response To Change ◽  
Social Upheaval

Purpose Coronavirus (Covid-19) is a pandemic that not only has caused significant havoc around the world but also presents some important opportunities for entrepreneurs to be innovative in the marketplace. The purpose of this paper is to detail in more depth how entrepreneurs have been affected by the crisis by focussing on specific types of entrepreneurship in terms of cultural, lifestyle and social change. Design/methodology/approach A review of the existing literature on Covid-19 and crisis management is conducted that highlights the effect of the pandemic on entrepreneurs. This approach enables an integration of the existing research on resilience in terms of how entrepreneurs adapt and pivot their business models in response to change. Thereby enabling a contemporary view about the ways entrepreneurs can contribute to societal well-being in times of huge economic and social upheaval. Findings While entrepreneurs by nature are resilient, the Covid-19 crisis in terms of its magnitude and length has led to specific challenges faced by entrepreneurs in adapting to the new environment. These challenges can be related to the way entrepreneurs respond to uncertainty by being flexible but also through the support of an entrepreneurial ecosystem environment. Originality/value Due to the Covid-19 crisis being an ongoing and recent phenomenon, this paper is amongst the first to focus specifically on how cultural, lifestyle and social attributes of society have changed. Thereby providing advice to current and future entrepreneurs about how to respond to crisis situations and to manage short- and long-term considerations. There is a growing body of research in entrepreneurship that is offering valuable insights by taking a crisis approach. In addition to the practical opportunities touched upon in this paper, there are associated numerous research potentials due to the intersection of crisis management, entrepreneurship and resilience literature.

scholarly journals Energy Poverty and Protection of Vulnerable Consumers. Overview of the EU Funding Programs FP7 and H2020 and Future Trends in Horizon Europe

Energies ◽  
2020 ◽  
Vol 13 (5) ◽  
pp. 1030 ◽  
Author(s):  
Danila Longo ◽  
Giulia Olivieri ◽  
Rossella Roversi ◽  
Giulia Turci ◽  
Beatrice Turillazzi
Keyword(s):  
Social Inclusion ◽  
Well Being ◽  
High Energy ◽  
Urban Systems ◽  
Energy Prices ◽  
Energy Poverty ◽  
Horizon 2020 ◽  
Research And Innovation ◽  
Residential Energy Efficiency ◽  
The Eu

Energy poverty—involving a combination of factors, such as low household incomes, high energy prices, and low levels of residential energy efficiency—is identified as a complex and increasing issue affecting people’s physical health, well-being, and social inclusion. Even though a shared identification of energy poverty is not yet agreed, this phenomenon has been recognized as an EU priority. Several EU legislative documents address the topic, trying to outline its boundaries and provide a framework for mitigative actions. At the same time, different research and demonstration projects have been funded to experiment and evaluate innovative approaches, strategies, and solutions and to promote good practices at national, regional, and local levels. This review paper presents some results of the “ZOOM” project (“Energy zoning for urban systems. Models and relations for the built environment”, funded by University of Bologna in the framework of Alma Idea 2017–ongoing), proposing a critical overview of the EU projects directly or indirectly connected to energy poverty—funded under the 7th Framework Program (FP7) and under Horizon 2020 Program (H2020). The aim of such a review is to highlight the main objectives, trends, and related topics of ongoing and concluded projects addressing energy poverty, in order to identify gaps and open issues and to understand the possible orientation and placement of this subject in the future EU research and innovation framework project, Horizon Europe.

scholarly journals The Wealth of Immigrants: Expanding our Understanding of Immigrant Economic Integration in Canada

2021 ◽  
Author(s):  
Kimberley J Dalgleish
Keyword(s):  
Economic Integration ◽  
Social Inclusion ◽  
Sense Of Self ◽  
Well Being ◽  
Asset Accumulation ◽  
Market Outcomes ◽  
Recent Immigrant ◽  
Labour Market Outcomes ◽  
The Life Course

Wealth is a key feature of immigrants' successful economic integration in Canada, while more broadly contributing to their level of social inclusion and sense of self-efficacy throughout the life course. Yet, immigrant wealth has been largely ignored in the Canadian literature. Current analyses of immigrant economic integration focus primarily on labour market outcomes and growing earnings inequalities. This body of literature would be greatly enriched by strengthened understandings of immigrant savings, consumption, asset accumulation and investment. This paper thus brings together the fragmented and scarce literature related to immigrant wealth; consequently merging literatures from different fields and generating an important disucssion of the overarching issues affecting immigrant wealth in Canada. A critical review of the literature reveals that recent immigrant cohorts face increasing economic inequality compared to the Canadian born population and established immigrants, while wealth is increasingly polarized among recent immigrant groups. These trends have profound implications for the long-term economic well-being of immigrants in Canada, particularly as they reach retirement age.

Economic (In)Equality and Democracy: The Political Economy of Poverty in Athens

2018 ◽  
pp. 344-375
Author(s):  
Claire Taylor
Keyword(s):  
Direct Democracy ◽  
Participatory Democracy ◽  
Well Being ◽  
Social Scientists ◽  
The Poor ◽  
The Social ◽  
Self Interest ◽  
Democratic System ◽  
The Relationship

This chapter explores the relationship between participatory democracy and poverty in democratic Athens. Drawing on recent debates within Greek history and the social sciences, it examines the relationship between the economic prosperity of Athens and its democratic system, with particular emphasis on the role of direct democracy in the amelioration of poverty. Social scientists have frequently argued that democracy has a greater chance of success in wealthier polities, an idea which appears to have some application to the ancient world: Athens, for example, was undoubtedly affluent, had experienced long-term economic growth, had high wages and robust democratic institutions. However, much of this literature also betrays an anti-democratic/anti-poor rhetoric surprisingly familiar to historians of Athenian democracy (the poor are authoritarian, they lack intelligence, and are only interested in rule for their own redistributive self-interest etc). It also ignores those who are poor, plays down their participation in politics or fails to account for relative (in)equalities. This chapter, therefore, uses the Athenian experience to explore how participatory democracy can be used as a tool for social flourishing to empower, enrich and improve the capabilities and well-being of the poor.

Ethics and Economics: Growing Opportunities for Joint Research

2001 ◽  
Vol 11 (4) ◽  
pp. 599-622 ◽  
Author(s):  
LaRue Tone Hosmer ◽  
Feng Chen
Keyword(s):  
Well Being ◽  
Individual Choice ◽  
Joint Research ◽  
Ethics And Economics ◽  
Self Interest

A group of economists has recently begun addressing questions at the intersection of ethics and economics. They are preparing new definitions of individual choice that combine self-interest and other-interest, new processes of interpersonal exchange that result in cooperation rather than conflict, and new measures of social well-being that include rights as well as outcomes. This article surveys that work, and suggests areas where conceptual inputs from business ethicists are clearly needed, and where multiple opportunities for interactive research are obviously present.

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