Behavioural economics shows that people act more morally than the model of homo economicus would suggest. Nevertheless, conflicts between morality and economic interests do frequently occur and in many cases they can be resolved with the help of business ethics.
Behavioural economists have demonstrated experimentally that moral behaviour is not the exception. They have discovered systematic deviations from the image of the utility- and profit-maximizing homo economicus: People reward fair, and punish unfair, behaviour, for example, even at a cost to themselves.
Der Begriff Corporate Social Responsibility (CSR) umschreibt die Verantwortung der Unternehmen für die Gesellschaft.
Behavioural economics deals with human behaviour in economic situations. One conclusion drawn from this discipline is that people frequently act contrary to the widely-accepted model of man as homo economicus.
While trust and satisfaction in life are as closely related as trust and economic growth, mistrust can provoke or aggravate crises – such as the Euro crisis.
Trust is hardly missed until it’s gone. However, the Euro crisis has demonstrated what happens when trust fades inside the banking sector: Increasingly mistrusting each other, banks have made lending more difficult. As a consequence, financing costs for companies have increased and investments stagnated, slowing down economic growth in Europe. The trust index analyses how trust has developed in Europe and how different countries compare today in terms of trust levels.
Business ethics examine the ways in which conflicts between a society’s moral demands and economic requirements can be solved.
Instances exist in which conflicts arise between entrepreneurial pursuit of profit and a society’s legitimate interests. However, these can be resolved in a constructive manner. The government can intervene with regulations (systemic ethics), companies can act responsibly (corporate social responsibility) and individuals can act morally (individual moral).
A healthy and trusting person, content with his or her job and maintaining strong family ties, is generally satisfied with life.
Stark differences exist between the employed and the unemployed. Yet, a job’s significance does not only depend on the size of one’s income. People work for more reasons than to simply earn a living: The right job enables them to create and to shape, and integrates them into social networks.
When people buy something or sign contracts, they don't always act to their own advantage. Consumer protection thus means protecting consumers not only from producers but also from themselves.