Ethics and Economic Good on Wage Increment

The contemporary world has a shift in the economic and political factors in which nations strive to create satisfaction to its citizens. The world economic index changes due to the growing demographic factors triggering the demand for goods and services. The greatest impact on the economic index is the wage index valuation in creating a just economy that accommodates the wealthy, and the have-nots (Lütge, Christoph, and Johanna 279). For decades the world economy changes require a shift in opportunities to the people to support life’s basic needs. The hard working people in the contemporary world get the least pay demoralizing their effort with time. Therefore, the shift in wages allows the people focus on the daily needs and settle on better living standards (Murphy, Robert, Charles and Hugh 17). It is vital to address the pay increment as the rate of development increases in the country to ensure that there is enough money circulation to eliminate poverty in the society.
The economic policies of a country depend on the leadership and the justice prevailing to the people. The care for better living standards requires the ethical, moral economics on addressing the societal issues. It introduces the concept of deontological ethics which bases its argument on the obligation of the government form by the people. Kant’s theory binds the people with rules alongside the consequents of duty to perform (as qtd. in MacKinnon, Barbara, and Andrew 22). For instance, the relation between the state and the obligation of the individuals in service delivery require the ethical delivery and the proper reward appreciation.

Therefore Kant addresses the duty delivery and the consequence of function. The civil servants of a country need the proper recognition to sustain their livelihoods in the society. The economic policies of a country need adjustment in case of imbalance created between the obligation and the reward offer. Thus this involves the wage rise in ensuring constant morale of the servants in the course of duty delivery. Moreover, this controversial theory ideology focuses on the obligation morale and motivational instrument on perfect task delivery.
However, the constant increment on wage index may be next to impossible policy in a country. The utilitarianism theory explains the best action maximizing utility on the best actions. This approach seeks to elaborate on the social economics and the maxim of happiness of human satisfaction (MacKinnon, Barbara, and Andrew 26). Consequently, it develops on the failing symmetry between happiness and suffering since it maximizes on happiness. In this aspect, the poor will continue receiving the low wage leading to the unjust standards in the society. Further, this theory criticizes the paternalism of the people. The utilitarianism concept addresses the maximum pleasure ignoring the suffering of the poor citizens in a country. In this aspect, the low wage earners continue to suffer through hard work to maximize the happiness of greater pay for their output. The pleasure for maximum happiness deprives the autonomy of pay rise since it focuses on personal obligations in attaining the personal pleasure. Several nations address the financial deficit and recession hence the value on addressing national wage increment may deprive the growth of the country’ domestic product (Murphy, Robert, Charles and Hugh 31).
In conclusion, the motive for wage increment demand by the people depends on the countries’ value on ethical economics. The care for the national interest of the people entails the respect for the liberty of the citizens. The government of the day should address the interest of the people and maximize on pleasure and reduce the pain on duties (Lütge, Christoph, and Johanna 284). The hardworking in the society should have their valuation appreciation to foster greater dignified society. The constant reformulation of the economic policies advocates for ethical consideration of the poor in the society and justifying the moral concept of life to the people.

Work Cited
Lütge, Christoph, and Johanna Jauernig. Business Ethics and Risk Management. , 2014. Internet
resource.
MacKinnon, Barbara, and Andrew Fiala. Ethics: Theory and Contemporary Issues. , 2015. Print.
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Murphy, Robert P, Charles Lammam, and Hugh MacIntyre. Raising the Minimum Wage.
Vancouver: Fraser Institute, 2016. Internet resource.