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The Theory of Moral Capital pp 15–37Cite as

Economy Can Not Exist Without Morality

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Abstract

This chapter tries to tell readers that an economy, which is based on human behavior and relationships, must include moral elements; otherwise, socio-economic phenomena cannot be correctly recognized, understood or commanded, which in the meantime shows that morality can and must play its unique and irreplaceable role in promoting business and even economic development. The chapter forms a theoretical basis for understanding moral capital.

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Notes

  1. 1.

    Wang (1994), Wang (1998), Wan (2011a), Sen (2003), De George (2002), Enderle (2002).

  2. 2.

    Li (2010, p. 253).

  3. 3.

    Sen (2003, p. 15).

  4. 4.

    Enderle (2002, pp. 58–59).

  5. 5.

    Zuo Zhuan · the 10th Year of Duke Zhao.

  6. 6.

    Zuo Zhuan · the 28th Year of Duke Xiang.

  7. 7.

    Zuo Zhuan · the 10th Year of Duke Zhao.

  8. 8.

    Collected Works by Chu His. Vol. 24.

  9. 9.

    Variorum of the Analects of Confucius · Ethics and Benevolence.

  10. 10.

    Zhuzi’s Language Category. Vol. 51.

  11. 11.

    Zhuzi’s Language Category. Vol. 51.

  12. 12.

    Zhu (2009).

  13. 13.

    Song (2010, p. 104).

  14. 14.

    Song (2010, pp. 107–108).

  15. 15.

    Mandeville (2002, p. 37).

  16. 16.

    Mandeville (2002, p. 215).

  17. 17.

    The Analects of Confucius · Taibo.

  18. 18.

    Mo Tzu · Classics.

  19. 19.

    Zhao (2004).

  20. 20.

    Luxuriant Dew of the Spring and Autumn Annals · Materials Needs Prevail Over Morality.

  21. 21.

    Frederic (1995).

  22. 22.

    Zhao (2002).

  23. 23.

    Zhang (2001).

  24. 24.

    Zhang (2007).

  25. 25.

    Gu (2005).

  26. 26.

    Wang (2001).

  27. 27.

    In this case, “survival indexes” refers to the physical conditions, educational level, psychological quality and moral consciousness etc. of a person. As objective and subjective survival conditions and the efforts made to survive vary from person to person, the survival indexes of different persons are different.

  28. 28.

    Marx and Engels (2009a).

  29. 29.

    Luo (2004).

  30. 30.

    Luo (2003).

  31. 31.

    Luo (2003).

  32. 32.

    Marx and Engels (2009b).

  33. 33.

    Marx and Engels (2009c).

  34. 34.

    Wan (2011b).

  35. 35.

    China claims the distribution system which gives priority to labor-based distribution and allows the co-existence of other distribution modes. “Other distribution modes” includes distribution according to one’s work and others based on production factors, such as technology, information, capital or shares and intangible assets.

  36. 36.

    Li (2010, p. 142).

  37. 37.

    Lu and Xiao (2002).

  38. 38.

    Marx and Engels (1995).

  39. 39.

    Tang (2005).

  40. 40.

    Li and Li (1996).

  41. 41.

    In the story of Prisoner’s Dilemma, since the two prisoners cannot collude with each other, both of them choose to confess out of their best interests, and thus are sentenced to five years respectively in jail. The game itself together with its ending is named Nash Equilibrium, or non-cooperative game.

  42. 42.

    Amartya Sen does not believe that people involved in a game are absolutely utilitarian or self-interested. “In fact, without self-interest which is decisive in our decision making, there will be no normal economic transaction. The real problem is that if there are diversified motives, or, if self-interest is the only motive of human behavior.” Amartya Sen believes that human beings are self-interested, but “people, clear about their goals, wish to maximize their goals, but take note of other people's goals at the same time, due to a recognition of the nature of mutual interdependence of the achievements of different people in these situations.” Therefore, “Indeed, such cooperation is often found even in non-repeated games of this type, in one-off real-life situations” Sen (2000).

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Authors and Affiliations

  1. Philosophy Department, Nanjing Normal University, Nanjing, China

    Xiaoxi Wang

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  1. Xiaoxi Wang
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Correspondence to Xiaoxi Wang .

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Wang, X. (2018). Economy Can Not Exist Without Morality. In: The Theory of Moral Capital. Springer, Singapore. https://doi.org/10.1007/978-981-13-0478-1_2

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