What is the primary focus of ethical economics?

The primary focus of ethical economics is on exploring the moral implications of economic decisions. This field investigates how economic activities and policies affect various stakeholders and considers the fairness, justice, and ethical consequences of those decisions. It emphasizes the need for a moral framework in economic practices, guiding behavior not just by efficiency or profit maximization but also by social and ethical considerations, such as the welfare of individuals and communities.

In this context, ethical economics seeks to answer questions about the responsibilities of businesses, the effects of government policies, and the broader societal impact of economic behavior. This includes examining issues like income inequality, environmental sustainability, and the ethical treatment of workers, which are all integral to understanding the full impact of economic activities beyond mere financial outcomes.