TYPES OF ETHICS

Types of Ethics      Following three major types of ethics as explained below:     (i) Transactional Ethics    (ii) Participatory Ethics    (iii) Recognition Ethics (i) Transactional Ethics       Man is a social animal. He has to act and react  with others through different transactions. The practices of ethics in all these transactions is called as transactional ethics.       In order let each party’s transaction run smoothly, all parties have to accept the principle of equality, implying that every agent should allow every other the same amount of freedom or action he claims for himself.      The moral principle of equality tells us where to refrain from intrusions in the freedom of action of others while following one’s own affairs, which is negative principle as well as basic. Example :        I  need vegetables from vegetable vendor. The vendor wan...