Analysis Of Donaldson's Notion Of An Ethical Wealth Of Nations
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- Ankita Saikia (ID: W1189198)
In Donaldson’s notion of an “Ethical Wealth of Nations”, he talks about an ethical advantage of nations, and, how ethical values play an important role in molding the foundation of economic prosperity of nations. In the essay by Professor Jennings, he makes an attempt to extend Donaldson’s work and fill in some of the loopholes in the latter’s theories. The three major points made in his essay are:
1. Institutions play a vital role in the manner in which ethical values drive a nation to economic prosperity.
2. Ethical values, in order to be a driving force for economic prosperity, must not only be intrinsically valued but must be fully interwoven in the institutional fabric of the society.
3. The moral education of future business leaders should be focused on instilling in them a mindset comprising of a sense of responsibility for advocating and preserving the ethical character of society’s institutions.
After a critical analysis of the essay, I stand in agreement with the major points. In addition, I feel that it is the moral education in society which is the founding stone of economic prosperity of nations, since, moral education will lead to developing the ethical factors which are essential for boosting the economic prosperity.
Role of Institutions:
Donaldson’s typesetting of ethical factors seems to be missing a very significant aspect of the society, which is closely linked