Socrates refined the terms in ethics which is relevant to economics. Such as virtue,friendship,courage. These words are useful to describe the nature and substance in the field of economics.
Plato explored the words like idea,form in psychology which is a part of economics as well.
Aristotle firmed up words as information,abstract,accidental,generic,specific. They may be part and parcel in economics.
The vocabularies of Plato and Aristotle,Latinized, permeated the philosophy of the West. However,there are similar concepts in Confucianism as I tried to compare in my work entitled "Philosophy of Mencius,"listed at the Library of Congress www.loc.gov in 1950.
Adam Smith was a professor of moral philosophy but a renowned economist as well.
The highest degree in economics is Ph.D., i.e. Doctor of Philosophy. That is the rationale per se!
I have reason to believe that economics students should study ethics and morality in Business Ethics as courses in Business Schools in USA and in China.
Francis Shieh aka Xie Shihao on Monday,April 27, 2009 at 6.26 a.m.
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