Abstract

This study utilizes an exploratory research design to investigate the influence of historical socialism and communism on the shaping of a society’s economic ethos. The discussion of ethics and economics has a very long history across multiple disciplines including the founder of modern economics, Adam Smith. However, with the growth of economic science, academic consideration has shifted toward positive analysis while normative analysis has been left mainly to philosophers. By utilizing the newly developed Morality of Profit-Making scale, the authors sought to understand how historical socialism and communism influences respondents’ economic ethical worldview utilizing an exploratory research design. Data were collected from respondents in the Czech Republic, Slovenia, Slovakia, Serbia, Poland, and Hungary.