Free riding involves benefiting from common resources or services while avoiding contributing to their production and maintenance. Few studies have adequately investigated the propensity to overestimate the prevalence of free riding. This is a significant omission, as exaggeration of the phenomenon is often used to justify control and coercion systems. To address this gap, we investigate how the common good approach may mitigate the flaws of a system excessively focused on free-riding risk. In this conceptual paper featuring illustrative vignettes, we (...) argue that the common good perspective is realistic and effective in preventing this excessive attention by promoting trust as an unconditional gift and a response to vulnerability. We discuss the common good perspective’s originality over the dominant approaches and propose a set of ethical and managerial recommendations that may be the best protection against this excessive focus and maybe even against free riding itself. (shrink)

This paper seeks to show how MacIntyre’s concept of a practice can survive a series of ‘scope problems’ which threaten to render the concept inapplicable to business ethics. I begin by outlining MacIntyre’s concept of a practice before arguing that, despite an asymmetry between productive and non-productive practices, the elasticity of the concept of a practice allows us to accommodate productive and profitable activities. This elasticity of practices allows us to sidestep the problem of adjudicating between practitioners and non-practitioners as (...) well as the problem of generic activities. I conclude by suggesting that the contemporary tendency to regard work as an object of consumption, rather than undermining MacIntyre’s account of practices, serves to demonstrate the potential breadth of its applicability. (shrink)

This paper investigates qualitatively the significance of different dimensions of ethical organisation culture for the exercise of middle managers’ moral agency in ethical problems. The research draws on the social cognitive theory of morality and on the corporate ethical virtues model. This study broadens understanding of the factors which enable or constrain managers’ potential for moral agency in organisations, and shows that an insufficient ethical organisational culture may contribute to indifference towards ethical issues, the experiencing of moral conflicts, lack of (...) self-efficacy and morally disengaged reasoning. In contrast, a healthy ethical culture can contribute to motivation to tackle ethical problems, an increased capacity for self-regulation and ultimately ethical behaviour. (shrink)

MacIntyre argues that management embodies emotivism, and thus is inherently amoral and manipulative. His claim that management is necessarily Weberian is, at best, outdated, and the notion that management aims to be neutral and value free is incorrect. However, new forms of management, and in particular the increased emphasis on leadership which emerged after MacIntyre’s critique was published, tend to support his central charge. Indeed, charismatic and transformational forms of leadership seem to embody emotivism to a greater degree than do (...) more Weberian, bureaucratic forms of management; hence, MacIntyre’s central contention about our emotivistic culture seems to be well founded. Having criticised the details but defended the essence of MacIntyre’s critique of management, this paper sketches a MacIntyrean approach to management and leadership by highlighting the affinities between MacIntyre’s political philosophy and Greenleaf’s concept of servant leadership. (shrink)

This paper argues that attempts to apply Alasdair MacIntyre’s positive moral theory to business ethics are problematic, due to the cognitive closure of MacIntyre’s concept of a practice. I begin by outlining the notion of a practice, before turning to Moore’s attempt to provide a MacIntyrean account of corporate governance. I argue that Moore’s attempt is mismatched with MacIntyre’s account of moral education. Because the notion of practices resists general application I go on to argue that a negative application, which (...) focuses on regulation, is more plausible. Large-scale regulation, usually thought antithetical to MacIntyre’s advocacy of small-scale politics, has the potential to facilitate practice-based work and reveals that MacIntyre’s own work can be used against his pessimism about the modern order. Furthermore, the conception of regulation I defend can show us how management is more amenable to ethical understanding than MacIntyre’s work is often taken to imply. (shrink)

We propose to understand the global financial crisis of 2008 as an historical event marked by public decisions, economic evaluations and ratings, and business practices driven by a sense of subjugation to powerful others, uncritical conformity to serendipitous rules, and a levelling down of all meaningful differences. The crisis has also revealed two important things: that the free-market economy has inherent problems highlighting the limits of (financial) business, and, consequently, that the business organisation is not as strong as is usually (...) assumed. We reconstruct some of the most dramatic events of that time by using the narratives of two former Lehman Brothers insiders. We then provide an interpretation of that world by using Heidegger’s notions of being and care. Our investigation uncovers persistent inauthentic relationships nourished by the public structure of the financial market, which, drawing on Heidegger, we call the they. In the financial market the what of the world becomes more important than authentic being and self. But a hitch-free switch to authenticity becomes possible through anxiety and the call of conscience. (shrink)

An enterprising odyssey might be one way to investigate whether a unique role is afforded to ‘a’ philosophy of management. The question is, first, which philosophy is at stake and what finery such a philosophy might bear. Second, three cardinal questions arise: (1) “What can we say about it?” (2) “How do we know we can or cannot say something about it?” and (3) “What is its relation to rationality?” Third, by an old scepticist tradition one may choose tantalising inner (...) subjects to punctuate these questions. In this case, the inner subject will run: “Is pathology dysfunctional?” A survey of related problems and possible solutions mingled with suspension follows on from this. Supported by appropriate non-philosophical disciplines, it will serve as a crowbar to reappraise the relation between critical management studies and organisational studies on the one hand and philosophy of management on the other. (shrink)

Against the idea that market economy is something greedy and immoral, we will set out the idea that market economy based on firms has a very positive moral content: the possibility of excellence of human action. Firms based on people acting together, sharing the culture of the organization, toward virtue-based ethics, create and distribute most of the economy’s wealth, innovate, trade and raise living standards. We will present a criterion which states that social coordination improves if the process of creation (...) of individual possibilities of action, which is carried out in the social institutions—in our case, the firm—is extended. There is a retention of possibilities that is formed in the institutions and transmitted culturally. In that moment entrepreneurship emerges, the creative tension that expands, maintains, or diminishes the possibilities of action. Hence, the firm is the institution that carries out a very important practice: fostering new possibilities of individual action. In this paper, we will adopt the point of the view of the acting person. The reality we observe is personal action within its cultural and institutional dimensions. A theory of personal action in societal institutions bridges the way from virtue-based ethics toward ethics of institutions. (shrink)

Spoofing—placing orders on financial exchanges intending to withdraw them prior to execution—is widely legally prohibited. I argue instead on two main grounds that spoofing should be permitted and legalised. The first is that spoofing as a form of bluffing remains within the market practice of making legally binding offers—as opposed to lying or betraying trust—and primarily concerns the spoofer’s personal information. As a form of bluffing spoofing helps prevent financial speculators, in particular high-frequency algorithmic traders, from easily profiting by other (...) market actors reliably revealing their underlying preferences through their market activity. The second is that at the systemic level permitting spoofing would benefit non-speculative actors who place orders to hedge economic risk and whose activities provide the raison d’être for financial exchanges, differentiating them from simple forums for gambling. I also address potential concerns that legalised spoofing would drive speculators out of financial markets entirely and, therefore, undermine market liquidity. This work contributes to the wider debate in business ethics regarding bluffing by illustrating the acceptability of bluffs which do not betray counterparty trust or reliance on testimony by remaining within the framework of market practices. (shrink)

An extensive literature has focused on the impact of new public management oriented structural changes on academics’ practice and identity. These critical studies have been resolute in concluding that NPM inevitably leads to a degeneration of academics’ ethos and values. Drawing from the moral philosophy of Alasdair MacIntyre, we argue that these previous analyses have overlooked the moral agency of the academics and their role in ‘moralizing’ and consequently shaping the ethical nature of their practices. The paper provides a new (...) theoretical understanding of NPM-oriented reforms in light of the virtue ethics approach, thereby directing the attention to the moral character and moral agency of academics. Our analysis of interviews collected in the business department of a Danish university provides an example of how individuals have divergent ethical understandings of these structural changes and enact/resist pre-defined social roles in different ways. While in some cases the NPM agenda of the institutions has triggered internal moral conflict and a crisis of moral character, in other cases the new logic resonates with academics’ values and evaluative standards. Partially departing from the theoretical ground of MacIntyre, we conclude that academics can play a crucial role in shaping the morality of NPM-oriented institutions and in transforming these settings into suitable contexts for the cultivation of virtues. (shrink)

Despite the expansion of the regulatory state, we continue to witness widespread unethical practices across society. This paper addresses these challenges of ethical failure, misalignment, and dissonance by developing a conceptual framework that provides an explicit basis for understanding virtuousness and the common good directed toward the goal of eudaimonia or human flourishing. While much of the literature on virtuousness has focused on the organization, this paper uses a more comprehensive understanding that also incorporates the agent and the economy examined (...) through their relational order. The common good provides direction for guiding behavior of all the various stakeholders and the context for understanding virtuousness, while it is through virtuousness that the common good is effectively realized. Virtuousness and the common good are therefore in effect ‘two sides of the same coin.’ This paper develops a virtuousness–common good conceptual framework which explores the basis for harmonizing the goals of the individual, organization, and the economy. (shrink)

Since the nineteenth century, the debate around the process of professionalization of higher education has been characterized by two extreme positions. For some critics the process carries the risks of instrumentalizing knowledge and of leading the university to succumb under the demands of the market or the state; for other theorists it represents a concrete opportunity for the university to open up to the real needs of society and for reorienting theoretical and fragmented disciplines towards the resolution of concrete and (...) challenging problems. This article pursues three objectives. Firstly, we show that the debate is usefully informed not only by ideas of what a university is, but also by ideas of a profession. We suggest that both ideas help to overcome the conflict between the two afore-mentioned antagonist perspectives. Secondly, we demonstrate that a certain understanding of a profession can prevent the risk of viewing knowledge exclusively as scientific expertise and reducing training to the acquisition of technical skills. The position on professions adopted here is inspired by the Scottish philosopher Alasdair MacIntyre, whose work is instructive in understanding professions as “rational practical activities”, embedded in a social context with their own internal goods. Our third objective, therefore, is to argue, with MacIntyre, that the presence of professions within the university opens up the opportunity to rescue forms of rationality that are oriented towards action and, by implication, promotes spaces of training that are resistant to exclusively corporate or governmental interests and criteria of mere effectiveness. (shrink)

Current organizations are underpinned by utilitarian ethics of Modernity. Pure economic motive driven organizations detach themselves from larger societal interest. Rising number of corporate scandals and intraorganizational income inequalities are breeding similar trends in society at large. Current organizations base their competitive advantage on resources and capabilities which boils down to economic supremacy at all cost whether it is named I/o or RBV of the firm. This theoretical article posits Ethics-based Trust as the main competency and capability for attaining sustained (...) competitive advantage. It in no way condemns utility view of the firms but treats it as a natural yet secondary outcome of genuine ethicality of the firm. Cultivating an ethical culture in the firm through identifying antecedents, organizational practices, and the outcomes where profitability is an automatic but secondary outcome under the supremacy of ethics is detailed in the multilevel model presented in this article. The main call of this article is to posit ethics and morality over and above short-term profits so that organizations fulfill their trustee role for society through enacting socio-humanistic theories within organizations. A brief analysis of the proposed ethical theory of firm is undertaken in light of the “schooling” notion in the contemporary organization theory literature. (shrink)

This paper summarized the findings of a qualitative study that examines the perceptions of ethical leadership held by those who perceived themselves to be ethical leaders, and how life experiences shaped the values called upon when making ethical decisions. The experiences of 28 business executives were shared with the researcher, beginning with the recollection of a critical incident that detailed an ethical issue with which each executive had been involved. With the critical incident in mind, each executive told the personal (...) story that explained the development of the values he or she called upon when resolving the ethical issue described. The stories were analyzed through the use of constant comparison, which resulted in the development of two models: (1) a framework for ethical leadership illuminating valued aspects of ethical leaderships and the value perspectives called upon when making ethical decisions, and (2) a model explaining how the executives’ ethical frameworks developed. The paper concludes with a brief discussion on virtue ethics, experiential learning, and human resource development. (shrink)

This paper applies emerging research on epistemic virtues to business ethics. Inspired by recent work on epistemic virtues in philosophy, I develop a view in which epistemic virtues contribute to the acquisition of knowledge that is instrumentally valuable in the realisation of particular ends, business ends in particular. I propose a conception of inquiry according to which epistemic actions involve investigation, belief adoption and justification, and relate this to the traditional ‘justified true belief’ analysis of knowledge. I defend the view (...) that epistemic virtues enable and/or motivate people to perform epistemic actions. An examination of the key epistemic virtues of love of knowledge, epistemic courage, temperance, justice, generosity and humility provides some initial evidence suggesting that the way epistemic virtues enable or motivate is by countering a number of biases that have been uncovered by behavioural economics, and also indicates ways in which the instrumental epistemic value view is superior to other approaches to epistemic virtue offered in the literature. (shrink)

This study bridged the gap in the literature by exploring the overlaps between public financial accountability and religious sentiments. Previous studies have considered accountability in specific religions and religious organisations through the expositions of their application of accounting concepts and procedures. However, the ways in which religious sentiments affect public accountability are rarely researched. Yet, religion and religious sentiments play central roles in the lived experiences of many people and affect their decisions and perceptions. We used the issuance of Sukuk (...) as a way to understanding how religious sentiments can impact public financial accountability. Our analysis of the online commentaries on the media report of the Sukuk issuance relied on the theory of Symbolic Interactionism and an interpretivist research approach that recognises multiple realities and supports exploring people’s lived experiences. Symbolic Interactionism suggests that people create meanings from their interactions with others through symbols, actions and multiple roles in social settings. Our findings showed that the Sukuk issuance elicited conflicting symbolic meanings amongst Netizens that affected their opinions of governments’ efforts to enhance public infrastructure using alternative financing options. We argued that clarity on the intersection between religious sentiment and public financial accountability can lead to deeper understanding on the nature of public accountability. It could also support the design of appropriate accountability frameworks especially in contexts with social fissures capable of undermining public accountability. (shrink)

Studies have shown ethics education has not systematically improved the moral reasoning of business students and professionals and, therefore, its effectiveness should be seen as deeply questionable. Business ethics education has limited effect, in part, because it rests on rationalistic traditions within normative ethics, business theory, and cognitive psychology. Emphasis is usually placed on student’s rationally thinking about issues as a way of improving their critical analysis and reasoning skills. Yet by focusing primarily on its cognitive dimension, ethics education has (...) tended to underdetermine the importance of social interaction in moral development. As an alternative to traditional business ethics education, using the work of the Russian psychologist Lev Vygotsky, I argue, that peer influence through a dialogical process is a better way to enhance and improve the moral reasoning and judgement of individuals. More specifically, small-group dialogue with peers encourages deep reflection about business dilemmas and has a direct influence on how one thinks about ethics. (shrink)

Alasdair MacIntyre´s criticism of Modernity essentially refers to the problem of compartmentalization, which restricts the possibility of achieving excellence in an integral lifestyle. Among other reasons, compartmentalization is especially derived from an insular valorization of the workplace based on a reductionist understanding of productivity in terms of mere efficiency. Aimed at overcoming the moral confusion derived from the overestimation of technical, skilled productivity and individualistic cooperation in private corporations, this article offers a thicker explanation of MacIntyre’s theory of productive work (...) in light of a narrative approach that opens up the possibility of achieving standards of excellence in modern production. To do so, it follows MacIntyre’s understanding of productivity in terms of craftsmanship by explaining what excellence in production is and the role it plays in achieving unity of life and excellence in modern corporations based on two criteria derived from a historical definition of production, namely, craftsmanship and collegiality. (shrink)

ABSTRACT:Although Alasdair MacIntyre has criticized both the market economy and applied ethics, his writing has generated significant discussion within the literature of business ethics and organizational studies. In this article, I extend this conversation by proposing the use of MacIntyre’s account of the virtues to conceive of management as a domain-relative practice that requires and develops practical wisdom. I proceed in four steps. First, I explain MacIntyre’s account of the virtues in light of his definition of a “practice.” Second, I (...) examine his distinction between “practices” and “institutions.” Third, I explain what I mean by a “domain-relative practice” and defend the claim that it is helpful to conceive of management in those terms. Finally, I highlight several features of practical wisdom as a virtue developed in and integral to standards of excellence within management as a domain-relative practice. (shrink)

Journal of Philosophy of Education, Volume 55, Issue 1, Page 83-98, February 2021.

The banking sector has been under public scrutiny since the credit crisis of 2007/8, and a range of diagnoses and cures have been offered, particularly in terms of regulatory and financial structures. In the public media, much comment has been made about ethics in the sector, but this has provoked surprisingly little response from academic researchers. This thesis explores the crisis in banking as a moral one, taking Alasdair MacIntyre’s account of virtue ethics as a framework for understanding the careers (...) of Scottish banking leaders. The method used for the study is narrative, and depends both on MacIntyre’s philosophy of tradition-constituted enquiry, and on Hans-Georg Gadamer’s hermeneutics. Conversations were held with ten leaders of Scottish banking whose careers typically span between 25 and 40 years, and the record of those conversations forms the primary data set for the research. The resulting narratives are frank, rich descriptions of deeply felt changes in a particular mode of working life. This was a way of life characterised up until the 1980s by a well-defined status within local communities, professional expertise and a well-ordered tradition. The deregulation of banking and subsequent structural and technological changes to retail banking services eroded that professional tradition, and replaced it with new modes of work dominated by institutional priorities of sales, profit and growth, rather than by an ethic of professional expertise and customer service. The thesis finds that there are structural barriers to the recovery of a professional ethic in banking. It offers new perspectives on the work of Alasdair MacIntyre, particularly in the application of his idea of traditions to mainstream economic activity. It also explores common ground between Gadamer and MacIntyre, proposing ways in which both philosophers can enhance our pursuit of qualitative empirical research. (shrink)

This article develops a liberal theory of the virtues in business. I first articulate two key liberal values embodied within market society: self-authorship and mutual benefit. Self-authorship is a mode of autonomy given expression through the effective exercise of economic liberties. Mutual benefit involves the intentional pursuit of the well-being of one’s transaction partners within economic exchange. These values are uniquely realized, I argue, within business, conceptualized as a distinct, firm-level, social practice. More specifically, individuals realize self-authorship by purposively integrating (...) cospecialized resources, forms of knowledge, and business functions to facilitate mutually beneficial transactions. Through their commitment to mutual benefit, businesspersons establish ongoing, cooperative relationships with customers, members of other firms, and various stakeholders more generally. These relationships are constitutive of a distinct liberal notion of the common good. The practice of business and the common good in a market society are sustained by a range of individual-level virtues. I recount these virtues and, before concluding, discuss several other theoretical implications of this account. (shrink)

Virtue ethics is generally recognized as one of the three major schools of ethics, but is often waylaid by utilitarianism and deontology in business and management literature. EBSCO and ABI databases were used to look for articles in the Journal of Citation Reports publications between 1980 and 2011 containing the keywords ‘virtue ethics’, ‘virtue theory’, or ‘virtuousness’ in the abstract and ‘business’ or ‘management’ in the text. The search was refined to draw lists of the most prolific authors, the most (...) cited authors, the most cited articles, and the journals with the most virtue ethics publications. This information allows one to chart how virtue ethics articles have evolved through the decades and to establish ‘schools’ or clusters of authors as well as clusters of themes. The results of this quantitative analysis of authors, ‘schools’, themes, and publications provide a foundation for the future study of virtue ethics in business and management, identifying its achievements and potentials. (shrink)