Ethics in the Developing Economies of Asia

Abstract

An attempt is made to explore a major issue in the context of marketization for economic growth in developing Southeast and South Asian countries. The paper questions the ethics of ignoring the non- market aspects in each area, region and culture, while forcing a universalist Western paradigm of growth economics. Reference is made to many social institutions and traditional practices which have evolved organically within these countries and are serving the local people very well. Dismantling them, because they do not fit into the rigid mould of the Western perspective, is either strongly opposed by the locals, or after implementation they are worse off than before. The paper advocates practical and sensible relativism for congruence with community variables in all economic reform programmes.