The Annales. Ethics in Economic Life is affiliated and co-financed by the Faculty of Economics and Sociology of the University of Lodz.

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4 EDITORIAL BOARD Joanna Dzionek-Kozłowska (Editor-in-Chief), Rafał Matera (Deputy Editor-in-Chief) Janina Godłów-Legiędź, Janusz Skodlarski, Jan Jacek Sztaudynger, Danuta Walczak-Duraj SCIENTIFIC COUNCIL Chairman: prof. Czesław Domański, PhD, University of Lodz prof. dr. Tevfik Erdem, Gazi Üniversitesi (Turkey) prof. Wojciech Gasparski, PhD, Kozminski University, Business Ethics Centre prof. David J. Jackson, Bowling Green State University (USA) prof. Bożena Klimczak, PhD, Wrocław University of Economics revd. Biju Michael SDB, PhD, Salesian Pontifical University, Jerusalem (Israel) prof. dr. Nail Öztaş, Gazi Üniversitesi (Turkey) dr Přemysl Pálka, PhD Tomas Bata University in Zlín (Czech Republic) prof. Sharaf N. Rehman, University of Texas (USA) prof. Michał Seweryński, PhD, University of Lodz prof. Heather Hadar Wright, PhD, Wittenberg University (USA) INITIATING EDITOR Agnieszka Kałowska, Beata Koźniewska EDITOR OF THE ISSUE Joanna Dzionek-Kozłowska TRANSLATORS Marta Koniarek, Wojciech Szymański, Dorota Woronowska PROOFREADING Mark Muirhead, Sharaf N. Rehman TYPESETTING Joanna Dzionek-Kozłowska TECHNICAL EDITOR Elżbieta Rzymkowska Publication of English-language versions of the volumes of the "Annales. Ethics in Economic Life" financed through contract no. 501/1/P- DUN/2017 from the funds of the Ministry of Science and Higher Education devoted to the promotion of scholarship The Annales. Ethics in Economic Life is affiliated and co-financed by the Faculty of Economics and Sociology of the University of Lodz. The list of the reviewers will be published in the 4 th issue of Annales. Ethics in Economic Life vol. 20 and available on-line on the journal s website: EDITORIAL BOARD ADDRESS Annales. Ethics in Economic Life Editorial Board Łódź, Poland, 41, Rewolucji 1905 r. Street phone: etykawgospodarce@uni.lodz.pl / ethicsineconlife@uni.lodz.pl Printed directly from camera-ready materials provided to the Łódź University Press. Copyright by Authors, Łódź 2017 Copyright for this edition by Uniwersytet Łódzki, Łódź 2017 Published by Łódź University Press First Edition W C Printing Sheets 9,625 ISSN e-issn Łódź University Press Łódź, 8 Lindleya St. ksiegarnia@uni.lodz.pl phone

5 CONTENTS 5 Jacek Sójka, Adam Mickiewicz University in Poznań Between philosophical heights and practical necessities. Some remarks on the idea of applied ethics 7 Przemysław Rotengruber, Adam Mickiewicz University in Poznań The marginal morality (die Grenzen der Moral) as an ethical challenge and as the knowledge on how to gain competitive advantage 21 Bożena Klimczak, Wrocław University of Economics Axiological entanglement of economics 33 Wojciech Giza, Cracow University of Economics On the valuation of economic goods 45 Janina Godłów-Legiędź, University of Lodz The institutional context of rationality 55 Mariusz Maziarz, Wrocław University of Economics Causality and inference in economics: An unended quest 67 Michał Gabriel Woźniak, Cracow University of Economics Human capital and economic development: The axiological perspective 83 Paweł Drobny, Cracow University of Economics The human as capital? A contribution to the critique of the theory of human capital 95 Damian Bębnowski, University of Lodz The attractiveness of the project of practical methodology and virtue epistemology for the economic history research 107 Andrzej Klimczuk, Warsaw School of Economics A moderate position in the debate on the possibility and moral utility of the ethical standards codification 127 Olgierd Górecki, University of Lodz Utilitarianism: Doctrinal analysis evolution of thought 141