Archive | September 11, 2014

Significance and Approach to Study Ethics

Significance of Ethics

Importance of ethics is felt in every sphere of our life. The power of the traditional religions and ideologies is on a decline. Crime, terrorism, ecological degradation, deception, prostitution, gambling, and other unfair practices are on a rise.

The significance of studying ethics is understood by the fact that the study of moral philosophy or ethics can deepen our understanding of the ultimate goal of life. Through ethics, an individual can look upon his life critically and evaluate his actions and decisions.

Second, the study of ethics can enable a person to deliberate upon the moral principles. Moral philosophy, or ethics, can help in clearing our mind on the questions of morality. Thus, our actions are more thoughtful and conscious. Study of moral philosophy also sharpens our mental faculty and thinking process. It trains out mind to think rationally and logically. Ethics become an inevitable part of the human existence, since man is a social animal. Thus, no one can escape the ethical questions of life. Read More…

Relevance of G-20 for Development

The later half of the 1990s had witnessed sea changes in the global power politics. While the US remained the dominant power, there emerged many economic power, from the global South, like China and India. The subsequent East Asian Financial Crisis of 1997 highlighted the need for greater economic cooperation between the developed and developing countries. A number of multilateral forums were established to initiate an informal dialogue between the different countries.

The Finance Ministers and Central Bank governors of the Group of Eight (G-8) announced the their intention to broaden the dialogue on key economic and financial policy issues among the systematically important economies, and to achieve stable and sustainable world economic growth that benefits all. This gave birth to the G-8, which comprised of countries like- USA, UK, France, Germany, Italy, Japan, Canada and Russia.

These 8 countries were later joined by 11 emerging and developing countries, namely- Argentina, Australia, Brazil, China, India, Indonesia, Mexico, Saudi Arabia, South Korea, South Africa and Turkey, along with the European Union to form the G-20. Read More…