Abstract

The thesis of this paper is that the ethics of environmental economy must search for a virtue-ethical basis. The traditional utilitarian approach has been the dominant ethical paradigm in neoclassical economics, but it is very problematic regarding environmental issues. Alternative orientations for an environmentally responsible economy can be found from the history of economics, especially from the Aristotelian tradition, and recent discussions about values in nature. Through these, one can look for economic virtues which are ecologically sound and, at the same time, socially and culturally possible. Some such virtues do already exist which must be interpreted only ecologically. Others can be found from the economic ethics of Antiquity. Economic virtues are usually followed unconsciously and alternatives are scarce. The ethics of ecological economics must develop ecologically meaningful virtues: through that it can make a place for new environmentally sound practices and policy.