The Ethics of Economic Resource Allocation

Abstract

This study addresses the issue of ethics in the allocation of economic resources amid the challenges imposed by globalized capitalism and the resulting social gap between capital owners and the working class. It highlights the urgent need to subject resource allocation processes to an ethical framework that ensures justice and equity. The research begins by clarifying the relationship between economics and moral philosophy, presenting two perspectives: one views economics as a value-free, positivist science, while the other emphasizes its intrinsic connection to moral considerations. The researcher favors integrating ethical dimensions into economic analysis to achieve balanced and sustainable development.

The study further explores the concept of resource allocation, clarifying its definition, conditions, and mechanisms, with a focus on the importance of efficiency in distribution through tools such as pricing, taxation, and public spending. The third section examines the ethics of resource allocation within both capitalist and socialist systems—being the dominant global models—highlighting their failure to achieve true ethical justice in resource distribution. While capitalism exposes citizens to market greed, socialism subjects them to state control.

The study recommends that "economic ethics" be taught in universities and calls for the development of economic models based on clear moral frameworks that ensure the optimal and fair use of resources in the face of rapid economic and social changes