Although economics and morality may seem like separate concepts, they are always inextricably linked. In this relationship, economics is mainly an indicator characterizing a person's livelihood situation, while morality is a manifestation of human behavior in this sphere, depending on the spiritual world of an individual. If the economy represents material values, then human morality can be observed by the morality of the workers who create these values. The influence of morality on the economy can be both positive and negative. In other words, a worker with high moral values can strengthen the economy, while a worker with low moral values can cause the economy to weaken and detoriate.
In general, the state of the economy depends largely on the moral behavior of each individual. Economic development, stability and security, and a decent life for people can be achieved only in a society of highly moral workers.
Morality in economic relations
The security of society and the state is ensured by the constant development of the economy. The timely implementation of programs and plans by enterprises of all levels, regardless of the form of ownership, is an indicator and guarantee of stability and security of the national economy. The achievement of such results in the majority of cases directly depends on the morality of the people working at the enterprise. When employees are lazy, make excuses instead of work, are jealous of other people's property, chase after position and have other bad qualities, production programs and plans are not fulfilled on time and the quality of work suffers.
The basic moral principles of economics:
Based on the above, it is necessary to define the basic principles of economic morality. The basic moral principles of economics today are the following:
- careful attitude to the property of the company (material values, equipment, inventory, money and other things), not allowing their loss and damage;
- efficient and systematic use of the company's natural resources and assets;
- to avoid and fight against actions that are harmful and contrary to the interests of the company, the state, and society;
- always act fairly within the limits of moral and legal norms, being aware of moral duties and responsibilities to the state and society;
- to give priority to the public good, i.e. the good of society at all times;
- to gain benefits only through halal means;
- to work and live with gratitude and patience;
- not envy;
- regular charitable actions;
- perform work duties by just means;
- proper observance of labor laws in the workplace;
- conducting economic competition within reasonable and supported restrictions and methods, and others.
- matching morale and employee performance
The sustainable development of the economy requires a high degree of morality and professionalism (competence) on the part of the employees working in it. An important factor in the relationship between these two concepts is employee morale. Employee morale and performance can manifest in four ways:
- the employee has low moral values but high performance;
- the employee has low moral values and low work capacity;
- the employee has high moral values, but low work capacity;
- the employee has high moral values and high work capacity.
Experience has shown that the low productivity of an employee with low moral values is also beneficial to production because such an employee is usually not assigned positions of responsibility or special assignments.
Judging from this brief analysis, the moral maturity of a society is an indicator of its economic strength, political stability, the well-being of its people, and the effectiveness of reforms in other areas.
To summarize, the proper regulation of the economy depends to a large extent on its legal provision and on the moral values of the worker, if both are to work effectively.
Analyzing the influence of morality on the economy is one of the important tasks facing people today. A moral approach is necessary to ensure the stability and security of the economy.
Candidate of Law Studies, Associate Professor