ABSTRACT
The principles of ethical economy can be applied to various fields of decision-making, particularly to business and medical decisions. This chapter analyses the ethical presuppositions of economic coordination, of the market, and of efficiency. It examines some aspects of the ethical theory of economics, the need for the third person in economic coordination and the problem of incomplete contracts. Ethical economy as the economy of ethics gives an answer to the question for which economic reasons individuals are motivated to follow ethical norms. In the market economy, the price is not the only parameter for competition. The religious belief can transform ethics failure into trust in the effectiveness of ethics. It transforms the empirical uncertainty of the isolation paradox into the belief that morality is a common phenomenon and that it is useful to be moral. Assurance and trust in the advantage of being moral are not fully attained on the basis of ethics, but on the basis of religion.
