The term ethonomics refers principally to the situation where ethical and economic (i.e. financial) concerns are appropriately balanced in context.
Ethonomics represents an area encompassing economics but in which the terms of reference have been widened from:
• considerations only of price (and also quality, range and service);
• to also include ethical issues, appropriately weighted against current economic priorities.
The inclusion and this type of extension of economics shows that ethonomics has the potential to be a rich, influential and multi-faceted academic area.
The growth of interest in areas such as corporate social responsibility, fair trade and microfinance underline the growing interest in this area.
In today’s world the pivotal significance of ethonomics is shown by problems such as global warming, pollution, and human inequalities fostered by elements such as disparities in wages or standards of working conditions.
Ethonomics is also the name of this organisation.