Economic and ethical foundations of fair pricing and fair trading: Contemporary practices and jewish tradition

Stephen King, Shimon Cowen

Research output: Chapter in Book/Report/Conference proceedingChapter (Book)Otherpeer-review

Abstract

This chapter presents the principles of free market and competition, with a particular focus on Australian policy, and continues with an exposition of Judaic ethical and legal parameters for competition and for the intervention in the economy. It sets out circumstances under which curbs on competition would be legitimate. It shows how Jewish law affords a safety net where one side in the vendor-consumer relationship does not have proper knowledge, limits the profit margin on basic commodities and forbids predatory pricing that is destructive of competitors.

Original languageEnglish
Title of host publicationApplied Jewish Values in Social Sciences and Psychology
EditorsMichael Ben-Avie, Yossi Ives, Kate Loewenthal
PublisherSpringer
Pages237-247
Number of pages11
ISBN (Electronic)9783319219332
ISBN (Print)9783319219325
DOIs
Publication statusPublished - 1 Jan 2015

Keywords

  • Anticompetitive behaviour
  • Competition
  • Fair pricing
  • Fair trading
  • Free market
  • Jewish business ethics
  • Jewish law
  • Monopolies

Cite this

King, S., & Cowen, S. (2015). Economic and ethical foundations of fair pricing and fair trading: Contemporary practices and jewish tradition. In M. Ben-Avie, Y. Ives, & K. Loewenthal (Eds.), Applied Jewish Values in Social Sciences and Psychology (pp. 237-247). Springer. https://doi.org/10.1007/978-3-319-21933-2_13