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Synopsis It is well known that the study of economics has up till now avoided questions of moral values and considerations of ethics, which are abstract qualities. However, it is becoming obvious that in order to solve the problems that confront us in the world today it will be necessary to take into consideration both concrete and abstract factors and as such it is impossible to avoid the subject of moral values. If the study of economics is to play any part in the solution of our problems, it can no longer evade the subject of ethics. Nowadays environmental factors are taken into account both in economic transactions and in solving economic problems, and the need for ethics in addressing the problem of conservation and the environment is becoming more and more apparent.