About Ethics, Economics and Governance

“About Ethics, Economy and Governance” deals with ethics as means of

governance, the relations between ethics and economy and its consequences

for economic policies. The historical context for the analysis is Latin America.

In the last decades Latin America experienced deep reforms in both the

economy and the state. Successful macroeconomic programs were put in place

and inflation went down. However, inequality and poverty did not decline.

Otherwise there are evidences that both increased. The rates of economic

growth have been relatively low and unstable. The ethical challenge in the

region is to try to conciliate efficiency with equity; to conciliate economic

growth with social justice.

This paper deals with those questions. First it presents major trends on

changes that have been taking place in Latin America. Then it takes up the

relations between ethics and economics. After that, the paper deals with the

challenges for searching equity with both relation/opposition to efficiency and

relation to the intertemporal dimension of development. Finally, as examples

of governance, the paper discusses two economic policies - monetary and

fiscal responsibility – which are fundamental to economic growth and social

justice. Some conclusions close the paper.

Paulo Paiva
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