Business Ethics and Societal Culture

In July 2020, more than 1000 companies that advertise on social media platforms withdrew their business, citing failures of the platforms (especially Facebook) to address the proliferation of harmful content. The #StopHateForProfit movement invites reflection on an understudied topic: the ethics of boycotting by corporations. Under what conditions is corporate boycotting permissible, required, supererogatory, or forbidden? Although value-driven consumerism has generated significant recent discussion in applied ethics, that discussion has focused almost exclusively on the consumption choices of individuals. As this (...) article underscores, value-driven consumerism by business corporations complicates these issues and invites further examination. We propose principles for the ethics of boycotting by corporations, indicate how these principles relate to different CSR paradigms, and show how these insights can help assess recent instances of corporate boycotting. (shrink)

Game theory involves deliberating about what to do in light of what other people are likely to do. One of the central frameworks of game theory is the prisoner’s dilemma, in which participants who make rational choices end up in suboptimal outcomes. Using the prisoner’s dilemma to model competition between firms sets the stage for a new and promising approach to business ethics: the market failures approach.

I aim in this paper to provide defense of one way to look at what should be regulated in the market place. In particular, I discuss what should be tolerated and argue against corporate welfare. I begin by endorsing John Stuart Mill’s harm principle as a normative principle of toleration. I call strict commitment to the harm principle when considering the regulatory structure of markets market libertarianism and oppose that to promotionism, the view that endorses government interference to promote business (...) interests. I next discuss the widespread use of promotionist policies, arguing against them and for market libertarianism. I also consider problems for my view, recognizing that one of my responses may leave some thinking the paper is a reductio of the market libertarian view because of the sort of slow-growth state it endorses. Others will recognize it as a view promoted by some of the U.S. founding fathers and find it attractive in its own right. (shrink)

Numerous high-profile ethics scandals, rising inequality, and the detrimental effects of climate change dramatically underscore the need for business schools to instill a commitment to social purpose in their students. At the same time, the rising financial burden of education, increasing competition in the education space, and overreliance on graduates’ financial success as the accepted metric of quality have reinforced an instrumentalist climate. These conflicting aims between social and financial purpose have created an existential crisis for business education. To resolve (...) this impasse, we draw on the concept of moral self-awareness to offer a system-theoretical strategy for crowding-in a culture of ethics within business schools. We argue that to do so, business schools will need to (1) reframe the purpose of business, (2) reframe the meaning of professional success, and (3) reframe the ethos of business education itself. (shrink)

With the transition of the pandemic-gripped labor market en masse to remote capabilities to avert from a national or international economic meltdown, a concern arises that many job seekers simply cannot fit into the new roles being developed and implemented. Beyond the loss of on-site work, the market is unable to reverse the loss of many roles that are, and have been, taken over by artificial (computer) intelligence systems. The “business-as-usual” mentality that many have come to associate with pre-pandemic life (...) supposedly took these losses into account, much to various societies’ detriment during this international crisis. And unlike at the turn of the millennium, the market has come to realize that it cannot function without advanced computer intelligence (CI) systems. Arguments can be made that humanity’s currently most sophisticated CI systems come nowhere near replicating the nuances that would prompt one to classify the system as being “human-like,” and that they will remain this way for the foreseeable future. However, what is conveniently ignored in this assessment is how not even three generations have passed since computer systems became an integral aspect of daily life. While the loss of work for humans as a result of this advancement of technology may not immediately reach concerning levels, it still begs the question of how society should react to a lack of non-specialized work and the value of “humanness” in the labor market. This work intends to explore these concepts and provide anticipatory guidance on how humanity should adapt. (shrink)

In this paper, I defend what may seem a surprising view: that John Stuart Mill’s famous harm principle would, if taken to be what justifies government action, disallow the existence of corporations. My claim is not that harmful activities of currently existing corporations warrants their losing corporate status according to the harm principle. The claim, rather, is that taken strictly, the harm principle and the legal possibility of incorporation are mutually exclusive. This view may be surprising—and I do not at (...) all mean to attribute it to Mill—but if I am right, it should be obvious. It should also encourage us to think more about the nature of the markets within which business occurs. (shrink)

Societal pressures on high tech organizations to define and disseminate their ethical stances are increasing as the influences of the technologies involved expand. Many Internet-based businesses have emerged in the past decades; growing numbers of them have developed some kind of moral declaration in the form of mottos or ethical statements. For example, the corporate motto “don’t be evil” (often linked with Google/ Alphabet) has generated considerable controversy about social and cultural impacts of search engines. After addressing the origins of (...) these mottos and statements, this chapter projects the future of such ethical manifestations in the context of critically-important privacy, security, and economic concerns. The chapter analyzes potential influences of the ethical expressions on corporate social responsibility (CSR) initiatives. The chapter analyzes issues of whether “large-grained” corporate mottos can indeed serve to supply social and ethical guidance for organizations as opposed to more complex, detailed codes of ethics or comparable attempts at moral clarification. (shrink)

I argue that capitalism presents a threat to “democratic contestation”: the egalitarian, socially distributed capacity to affect how, why, and whether power is used. Markets are not susceptible to mechanisms of accountability, nor are they bearers of intentions in the way that political power-holders are. This makes them resistant to the kind of rational, intentional oversight that constitutes one of democracy’s social virtues. I identify four social costs associated with this problem: the vulnerability of citizens to arbitrary interference, the insensitivity (...) of markets to relevant interests, failures of trust in the market system, and the inhibition of social deliberation about matters of public concern. I make general two suggestions about how we might ameliorate these problems: First, as a way of introducing some measure of intentionality to large-scale patterns of business activity, the reconceptualization of such activity as participation in larger group actions; second, the development of deliberative bodies that bring together business actors, policy experts, and diverse citizens in an effort to better characterize and transmit the public values that business should serve. (shrink)