Ethical Economics and Sustainable Development

As societies strive for economic progress, they often prioritize metrics like GDP growth, technological innovation, and industrial expansion. But amid the rush for material progress, something important but frequently overlooked comes into focus: the influence of moral capital on the course of economic expansion. This book explores the role of moral capital and its relationship with economic growth and emphasizes the ways in which investment in moral frameworks can promote social well-being and sustainable development. The book is divided into two sections. The first focuses on the theorisation of the moral capital and African economic sustainability nexus, while the second is devoted to some selected empirical studies on the impact of moral capital on African economic policies. The book argues that firm growth is crucial, not only for stakeholders but also for the broader economy, underpinning the sustainability of the ecosystem, and by adhering to ethical principles, organizations can make a positive impact on social, economic, and environmental issues. Further, they can proactively address societal concerns, promote fairness and justice, and engage in sustainable practices. Through their actions, institutions become agents of positive change, helping to shape a more inclusive, equitable, and sustainable world. The key message of the book is that the cultivation of moral capital requires a collective effort from all stakeholders involved in institutional development; governments, institutions, civil society, and individuals must collaborate to create an ecosystem that incentivizes and rewards ethical behaviour. It includes diverse perspectives and combines conceptual, theoretical, and empirical research, addressing contemporary issues in African economic policy and sustainability. It presents global case studies to make the case for the importance of moral capital in addressing African leadership problems. The book will appeal to academics, students, and researchers in economics, ethics, development studies, and sustainability.