The area of ethics in economics is a divisive one, over which there has been considerable debate. Ethics has many interpretations in the history of philosophy as well as in economic history. Very simply, ethics refers to an understanding of certain forms of behavior as either right or wrong. "The field of ethics, also called moral philosophy, involves systematizing, defending, and recommending concepts of right and wrong behavior." (Ethics) However, there are many complex aspects to the understanding of ethics. An early idea of ethics was put forward by the philosophers Jeremy Bentham and John Stuart Mill in the 19th Century. They suggested that ethical action was concerned with providing ". the greatest balance of good over evil." (Ethics) .

             On the one hand, economics is fundamentally driven in a systems and practical sense by the need to acquire profit and accumulate wealth. On the other hand there is a growing debate about ethical responsibility and integrity in the business and economic world, with respect to aspects and issues that strictly fall outsider the ambit of the pure science of economics per se. Recent controversies, such as the Enron scandal have also highlighted the issue of ethics in economics and business. This leads to a vast array of issues and questions; such as the protection of future resources and the growing debate about the reality of environmental ethics as it relates to purely economic concerns. Questions are asked such as; can there ethically be a case for unconstrained economic adventurism and profiteering without paying attention to the moral and ethical dimensions of these actions?.

             The debate and the dilemma that business faces in terms of ethical practices and views are concisely expressed in the following quotation. While "Businesses, in some parts of the world, have become integral participants in such causes as protecting the environment and alleviating poverty from economically depressed localities", this concern with ethics is ".