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Economic issues have always been basic to human life in all its endeavors. This gets even more pronounced when one deliberates on ethical behavior. That is why ethics and economics need to be seen as closely related and, indeed able to enrich each other.
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Ethics, Economics and Social Institutions
Ethics, Economics and Social Institutions
Vishwanath Pandit
Ethics, Economics and Social Institutions
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Vishwanath Pandit Sri Sathya Sai Institute of Higher Learning (SSSIHL) Puttaparthi, Andhra Pradesh India
ISBN 978-981-10-0897-9 ISBN 978-981-10-0899-3 (eBook) DOI 10.1007/978-981-10-0899-3 Library of Congress Control Number: 2016935605 © Springer Science+Business Media Singapore 2016 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper This Springer imprint is published by Springer Nature The registered company is Springer Science+Business Media Singapore Pte Ltd.
Offered in Gratitude to LORD Sri Sathya Sai Baba With LOVE and Humility These days virtue is becoming rare at all levels—in the individual, family, society and community, and also in fields of life—economic, political and even “spiritual”. Life must be spent in accumulating and safeguarding virtue, not riches. …… develop sympathy and the anxiety to serve and be useful to everyone. —BABA
Foreword
It is a great pleasure for me to write the foreword to this book by Prof. Vishwanath Pandit, especially since I have known Prof. Pandit as a colleague and a friend for nearly 45 years. The title of Prof. Pandit’s book, Ethics, Economics and Social Institutions, gives an indication of its very broad scope: the book encompasses a wide range of issues which have ethical as well as economic dimensions. While the interaction between economics and ethics has a long history, there have been phases in the development of economics, when economics moved sharply away from several disciplines, including ethics, with much consequent loss for economics. Over the last several decades, however, there has been a growing realization of this loss. Increasingly, one sees economists working on issues which are on the interface between economics and several other disciplines, such as ethics, political philosophy, and psychology. There is now a substantial recent lit
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