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It means the morality implied by something, like how the right to privacy is implied by the Constitution.

Or the moral(s) that aren't specifically stated by something. For example, the ethical implications of a policy that encouraged frequent lay-offs would be something harsh, like "survival of the fittest" or worse, like "social Darwinism."

Ethical implications is how the possible outcomes of a situation will affect everyone's best interests.

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Q: What are ethical implications?
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