Ethics is by far the most important input for economics or any other system, body of knowledge and area of human endeavor.
In the human world there is only freedom amongst known and effective barriers. Its why you can’t walk into a theater and yell “Fire!”
Currently we do not have free markets. Instead what we have is alternately goosed and strangled dominating financial chaos. The proof of this is in the result of the GFC (Great Financial Crisis) in 2007 where the banks who created the crisis with their derivative “weapons of mass destruction” were bailed out while those whose homes lost 30-40% of their market value were left to fend for themselves.
The current economic paradigm of Profit, Power and Control must be changed by imbuing the economy with policies that are guided first, last and always by the supreme spiritual value and ethic of the natural philosophical concept of grace as in love in action. As redemption/ethical cleansing is an essential aspect of the concept of grace the new Economic paradigm is Redeemed Profit, Power and Control.