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But maybe this is an opportunity to reiterate a point I try to make now and then: economics is not a morality play. It’s not a happy story in which virtue is rewarded and vice punished. The market economy is a system for organizing activity — a pretty good system most of the time, though not always — with no special moral significance. The rich don’t necessarily deserve their wealth, and the poor certainly don’t deserve their poverty; nonetheless, we accept a system with considerable inequality because systems without any inequality don’t work.
Well it depends on the person, lets take 401ks for example; alot of 401ks are more or less mutual funds. Some may object to taking a particular fund if said fund is profiting from smoking, porn or some foreign tyrant while others just want to make money.
Economics Is Not A Morality Play - NYTimes.com
In the above quote, Paul Krugman argues that the winners and losers in monetary terms are not reflective of any moral significance. Do you agree or disagree with this statement? Why?
Edit: Forgot to make this poll public, can a mod please fix that? Thanks in advance.
Nope.
Economics can't have moral significance (at least as I see it).
Now, some things that economics would tell you to do, might violate your moral code. And to an extent, the morals of the area you are examining economically might have an effect on the economics of said area. But economics itself doesn't have any moral significance I can think of.
True…perhaps I did not convey my thoughts correctly.Not trying to be jerk but this is easily disprovable.
You commit murder, you are locked away for most of your life.
You will most likely not amass any wealth.
Not to mention that market based economics requires a legal structure based on some sort of agreed morality.
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