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| On the Ethic Basis of Inclusive Finance by Analyzing the History of Economics and Policy |
| WANG Ying, ZENG Kanglin
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The Credit Reference Center, the People’s Bank of China;
Southwestern University of Finance and Economics |
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Abstract This paper discusses the ethic basis of inclusive finance by analyzing the history of economics and policy, and concludes that inclusion roots from human beings’ consensus on equality and fraternity. And in detail, the ex-ante and ex-post heterogeneity leads to inequality in resource allocation, income distribution and wealth redistribution, and thus, inclusive finance means a kind of correction method. Meanwhile, this thesis also finds that the transfer from advantage side to disadvantage side is unsustainable, and the Club Theory is much more feasible for inclusive finance, because of the cooperation occurring only among those of similar endowments. Above findings give ethic foundations for the reconstruction of China’s inclusive financial system.
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Received: 20 September 2015
Published: 01 January 1900
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