In the ‘Introduction’ to Capitalism and Freedom, Friedman's stated intentions are to: establish the role of competitive capitalism as a system of economic freedom and a necessary condition for political freedom; indicate the proper role of government in a free society; and return the term ‘liberal’ ‘… to its original sense – as the doctrines pertaining to a free man’. In fact, Friedman accomplishes none of these things. This essay has three distinct, though related, objectives: first, to compare Friedman's position (...) with the liberal alternative; second, to show why Friedman's position is more properly regarded as libertarian than liberal; and third, to assess the quality of Friedman's argument in its own right. My purpose is to demonstrate that Friedman overlooks the important liberal insight that the unrestricted accumulation of private propety may limit rather than promote individual freedom. This omission is crucial. Not only does it divorce Friedman's conception from liberalism, it also vitiates his case for economic freedom as a necessary condition for political freedom. (shrink)

The Irish Republic's economic success story has been simultaneously regarded as antithetical to and indicative of neoliberal hegemony. The question of the neoliberal pedigree of the Irish case is explored here from the perspective of mediatized representations of political economy. The paper's argument is advanced in three distinct stages. First, it outlines a theoretical and methodological rationale for the analysis itself. Second, it formulates a summary account of neoliberalism as discourse and ideology, introducing a key analytical distinction between ‘transparent’ and (...) ‘euphemized’ neoliberal discourses. Third, it presents an empirical overview of how neoliberal assumptions are articulated through mediatized representations of political economy. The article shows how the ‘Celtic Tiger’ can be understood as a case of neoliberal hegemony, as long as it is recognised that neoliberalism is hegemonically constituted through a plurality of discursive forms and rhetorical strategies. In addition, the paper highlights the constitutive role of media representation, especially the media rhetoric of Irish political leaders, in the production and reproduction of an Irish neoliberalism. (shrink)

In this essay, I identify the reasons that libertarian principles have failed to capture the popular imagination as an acceptable form of civil society. By the term “libertarian” I mean a belief in and commitment to a set of methods and policies that have as their common aim greater freedom under law for individuals. The term “freedom” in this context means not only a commitment to civil liberties, such as freedom of expression, but also to economic liberties, including a commitment (...) to a laissez-faire policy of free enterprise and free trade between countries. Libertarians, therefore, are committed to the absolute minimum state intervention in the economy as well as in people's private lives. In a world constrained by these libertarian principles, people should be permitted to do as they please, constrained only by rules that prevent them from encroaching on the liberty of others. (shrink)

This article is building the theory for the scientific field of industrial ecology. For this, the industrial ecosystem concept is used. IE uses the model of sustainable ecosystems in unsustainable industrial systems for making progress towards the vision of the industrial ecosystem. Six controversies are revealed and identified as research challenges. I invite all those who are interested in industrial ecology to respond to this contribution.

The debate that raged in the interwar period between the Austrian economists and socialist economists was, narrowly conceived, a debate in positive economics. What was being discussed was certainly not the morality of capitalism or of socialism. Nor, strictly speaking, was the debate even about society's economic well-being under socialism; it concerned the ability of central planners to make decisions that take appropriate account of relevant resource scarcities, in the light of consumer preference rankings. To be sure, the extraordinary interest (...) which surrounded the debate and the passions that lurked barely below its surface testified to the powerful implications of the debate for crucial issues in welfare economics. The Austrians were not merely exploring the economies of socialism; they were in effect demonstrating that, as an economic system attempting to serve the needs of its citizens, socialism must inevitably fail. But, even if the debate is interpreted in its broadest terms, as a debate in welfare economics, it represented a sharp break widi traditional polemics relating to the socialism-capitalism issue. Traditionally the arguments for or against capitalism had, until 1920, been deeply involved in ediical questions. Mises's 1920 challenge to socialism, in contrast, was explicit in making no attempt to address any claims concerning the alleged moral superiority of socialism. He simply argued that, as an economic system, socialism was inherendy incapable of fulfilling the objectives of its proponents; central planners are unable to plan centrally. (shrink)

Writing in 1912, before the Bolshevik Revolution, American socialist John Spargo said that it was “inconceivable” that a democratic socialist society would ever abolish the “sacred right” of freedom of publication which had been won at so great a sacrifice. According to Spargo, “every Socialist writer of note” agreed with Karl Kautsky that the freedom of the press, and of literary production in general, is an “essential condition” of democratic socialism.

Many proponents of the Harm Principle seem to implicitly assume that the principle is compatible with permitting the free exchange of goods and services, even if such exchanges generate so-called market harms. I argue that, as a result, proponents of the Harm Principle face a dilemma: either the Harm Principle’s domain cannot include a large number of non-market harm cases or market harms must be treated on par with non-market harms. I then go on to discuss three alternative arguments defending (...) the status of market harms as exceptions to the Harm Principle and discuss why these arguments also fail. (shrink)

This paper argues that two areas vital to the teaching profession's own development and to the development of its standing in society have been neglected in inservice education and training. The first, an understanding and development of the ' public ' dimension of teaching, suggests that teachers have duties and concerns which transcend those of professionals in the private sector because the public domain is a necessary focus for the promotion of collective life as opposed to individual interests. The second, (...) an appreciation of the ' ecological ' context of teaching, locates its practice within wider political and social issues and deepens the teaching profession's understanding of itself. The evidence of neglect of these areas is derived from questionnaire data drawn by the authors from primary and secondary schools on their inservice priorities. (shrink)

Business ethics denial refers to one of two claims about moral motivation in a business context: that there is no need for it, or that it is impossible. Neither of these radical claims is endorsed by serious theorists in the academic fields that study business ethics. Nevertheless, public commentators, as well as university students, often make claims that seem to imply that they subscribe to some form of business ethics denial. This paper fills a gap by making explicit both the (...) various forms that business ethics denial can take, and the reasons why such views are ultimately implausible. The paper argues that this type of serious engagement with business ethics denial should be an important part of the job description for teachers of business ethics. (shrink)

Contemporary republicanism is characterized by three main ideas: free persons, who are not subject to the arbitrary power of others; free states, which try to protect their citizens from such power without exercising it themselves; and vigilant citizenship, as a means to limit states to their protective role. This book advances an economic model of such republicanism that is ideologically centre-left. It demands an exit-oriented state interventionism, one that would require an activist government to enhance competition and resource exit from (...) dominating relationships within markets of all types, be they marital, labour, or residential. The substantial intervention and redistribution necessitated by such an approach make it leftist, while its tendency to work with rather than against the grain of markets makes it centrist. It is, in short, a contribution to progressive republican political thought, but one that is less social-democratic than market-democratic in character. (shrink)

Classical liberalism is skeptical about governmental organizations "doing good" for people. Instead governments should create the conditions so that people individually (Adam Smith) and in associations (Tocqueville) are empowered to do good for themselves. The market implications of classical liberalism are well-known, but the implications for organizations are controversial. We will take James Buchanan as our guide (with assists from Mill and Dewey). Unpacking the implications of classical liberalism for the "science of associations" (Tocqueville) requires a tour through the intellectual (...) history of the voluntary slavery contract and the voluntary non-democratic constitution. The argument concludes that the classical liberal endorsement of sovereign individuals acting in the marketplace generalizes to the joint action of individuals as the principals in their own organizations and associations. (shrink)

Abstract:Spirituality is an undeniable human need and is thus the subject of increasing interest among management scholars and practitioners. In this article, we propose using archetypal psychology as a framework for understanding the human need for spirituality more clearly because it provides important insights into spirituality and organizational life. Because most spiritual needs reside in the deepest aspects of the self, an archetypal approach helps us recognize not only that we have spiritual needs but alsowhywe have them. We present three (...) common archetypes and their implications in a management context. That is followed by an application of the archetypal approach to some of the more spiritually corrosive aspects of organizational life and a discussion of the implications of archetypes as a source of motivation. (shrink)

Abstract:We discuss the role that transnational corporations (TNCs) should play in developing global governance, creating a framework of rules and regulations for the global economy. The central issue is whether TNCs should provide global rules and guarantee individual citizenship rights, or instead focus on maximizing profits. First, we describe the problems arising from the globalization process that affect the relationship between public rules and private firms. Next we consider the position of economic and management theories in relation to the social (...) responsibility of the firm. We argue that instrumental stakeholder theory and business and society research can only partially solve the global governance issue, and that more recent concepts of corporate citizenship and republican business ethics deliver theoretically and practically helpful, fresh insights. However, even these need further development, especially with regard to the legitimacy of corporate political activity. (shrink)

Research on employees’ responses to corporate social responsibility has recently accelerated and begun appearing in top-tier academic journals. However, existing findings are still largely fragmented, and this stream of research lacks theoretical consolidation. This article integrates the diffuse and multi-disciplinary literature on CSR micro-level influences in a theoretically driven conceptual framework that contributes to explain and predict when, why, and how employees might react to CSR activity in a way that influences organizations’ economic and social performance. Drawing on social identity (...) theory and social exchange theory, we delineate the different but interdependent psychological mechanisms that explain how CSR can strengthen the employee–organization relationship and subsequently foster employee-related, micro-level outcomes. Contributions of our framework to extant literature and potential extensions for future research are then discussed. (shrink)

Over the past decades, the modernization of agriculture in the Western world has contributed not only to a rapid increase in food production but also to environmental and societal concerns over issues such as greenhouse gas emissions, soil quality and biodiversity loss. Many of these concerns, for example those related to animal welfare or labor conditions, are stuck in controversies and apparently deadlocked debates. As a result we observe a paradox in which a wide range of corporate social responsibility initiatives, (...) originally seeking to reconnect agriculture and society, frequently provoke debate, conflict, and protests. In order to make sense of this pattern, the present paper contends that Western agriculture is marked by moral complexity, i.e., the tendency of multiple legitimate moral standpoints to proliferate without the realistic prospect of a consensus. This contention is buttressed by a conceptual framework that draws inspiration the contemporary business ethics and systems-theoretic scholarship. From the systems-theoretic point of view, the evolution of moral complexity is traced back to the processes of agricultural modernization, specialization, and differentiation, each of which suppresses the responsiveness of the economic and legal institutions to the full range of societal and environmental concerns about agriculture. From the business ethics point of view, moral complexity is shown to prevent the transformation of the ethical responsibilities into the legal and economic responsibilities despite the ongoing institutionalization of CSR. Navigating moral complexity is shown to require moral judgments which are necessarily personal and contestable. These judgments are implicated in those CSR initiatives that require dealing with trade-offs among the different sustainability issues. (shrink)

Having the ambition to contribute to the practical value of the theory on corporate social performance (CSP), this paper approaches the question whether CSP can contribute to the competitive advantage of firms. We adopted an explorative case-study methodology to explore the variety of positive and negative effects of CSP on the competitiveness of organizations. As this study aimed at identifying as great variety of these effects as possible, we selected a diversified group of respondents. Data was thus collected through embedded (...) units of analysis in a petrochemical company, and triangulated with the opinions of experts on CSP. Overall, we found various positive and negative effects of CSP on the competitiveness of organizations. CSP is therefore not an innocent adventure for executives, but rather a strategy for achieving corporate objectives. If not carefully implemented, the CSP strategy may harm the competitive advantage of the firm, as our results have suggested. (shrink)

A number of theorists have proposed mechanisms suggesting that corporate social responsibility produces better financial results. Others subscribe to the theory that, realistically, less ethical means are necessary. This article contains an analysis of these perspectives drawing on observations from evolutionary game theory and nature. Based on these analyzes, it is concluded that the financial returns of corporate social responsibility and irresponsibility (CSR and CSI) are equal on average. The explanation is that CSR and CSI are driven to a state (...) of equilibrium, because if one or the other were to offer higher profits, it would attract more players who would compete for the best opportunities until there was no difference in average profit. Existing empirical research generally shows a positive correlation between CSR as measured and financial outcomes. It is argued that what is actually causing that finding is probably not CSR but management skill. More skillful managers, whether actually responsible or irresponsible, are able to obtain both higher profits and greater credit in imperfect measures of CSR. Next it is shown that this theory of equal returns implies greater moral freedom and therefore responsibility for business leaders. It is concluded that this insight can intensify the interest of decent business leaders in vigorously championing CSR. (shrink)

In ways accentuated by the global coronavirus pandemic, corporations constitute vital instruments of the acts of beneficence needed by the people of the world to make progress in public health and increase collective and individual well-being. This article contributes to understanding the variety of moral forces that may lead corporations to commit acts of beneficence, including Friedman’s business case for corporate beneficence, the duty of beneficence as developed by business ethicists, and Dunfee’s social contract account of corporate obligation. Whereas Mejia (...) recently contributed to scholarship on corporate beneficence by expressly adopting shareholder primacy’s conception of corporate governance, this article embraces a stakeholder-oriented, managerialist picture of corporate governance. I extend the literature on beneficence by incorporating what I argue is the intuition underlying Dunfee’s contractualist formula of minimal contribution, namely that management’s duty to do good is awakened and unshackled to the extent management judges the corporation can afford to commit acts of beneficence, all stakeholders considered. The all-stakeholders-considered case for corporate beneficence compels management to act, I argue, when inaction would undermine the moral integrity of managers personally committed to promoting the well-being of humanity. (shrink)

When corporate social responsibility (CSR) as a sensemaking process is assessed from a corporate governance perspective, this implies that stakeholders do not only influence companies by promoting and enforcing regulations and other corporate guidelines. They also influence companies by promoting regulation on influence pathways, by demanding that companies develop formal mechanisms that allow companies and stakeholders to discuss and in some cases agree on changes to principles and policies. This perspective suggests that regulation is an outcome of power relations and (...) is, as such, a reflection of certain mental models. As such, mental models reveal the political bias in corporate governance perspectives. For this reason, CSR research needs to be clear about the underlying assumptions about corporate governance, and corporate governance research needs to disclose which mental models of CSR influence the outcomes. Taking a governance perspective on the development of mental models of CSR helps to understand the interaction between CSR and processes of sensemaking at the institutional, organizational and individual levels. (shrink)

I argue that a governance perspective on corporate social responsibility (CSR) makes it possible to explain why the concept will always be under‐defined, is normative and thus political by nature, and is and should be difficult to measure. The perspective also makes it possible to understand the interaction between corporate values and stakeholders values.In processes of dialogue within governance systems and governance structures, changing insights into the principles of CSR can lead to regulation or its adjustment. Power is important in (...) these dialogues. Principles are at least partly shaped within governance systems and governance structures, and they influence the outcomes of corporate policies. Changes within the regulatory framework could also lead to changes in the principles of CSR.Value attunement processes could lead to regulation, which again influences the governance structures and thus the power of stakeholders within the dialogue. The theoretical model provided helps to analyze why CSR is different in companies, cultures and academic traditions. (shrink)

This research involves a review of the submissions to a 2005/06 Australian Government Inquiry into Corporate Social Responsibility. The Inquiry was established to investigate whether corporate social responsibilities and accountabilities should be regulated, or left to be determined by market forces. Our results show that the business community overwhelming favour an anti-regulation approach whereby corporations should be left with the flexibility to determine their social responsibilities and associated accountabilities and ‘enlightened self-interest’ should be retained as the guiding mechanism for social (...) responsibility initiatives. In stark contrast, the submissions from social and environmental organisations and individuals provided counter-arguments in favour of a pro-regulation view. Ultimately Government embraced the ‘free market perspective’ promoted by the business community and decided against the introduction of national legislation pertaining to corporate social responsibilities. (shrink)

The field of leadership studies frequently focuses on defining leadership traits in abstraction from the context in which leadership operates. The first aim of this article is to provide a brief overview of reasons why this might be the case. Reasons include: leadership studies being dominated by the perspectives of leaders; the lack of definition and visibility of followership studies; the status and limitations of much qualitative research; and a predominant focus on good leadership. Consequently, many people who experience the (...) effects of leadership, and particularly those of bad leadership, do not recognise their experiences in the literature. However, recognising that followers who experience bad leadership personally increasingly engage in autoethnographic studies, my second aim is to draw out some examples of bad leadership from the autoethnographic literature, as well as their effects. In spite of its negative effects, bad leadership frequently remains unchallenged. My third aim is to explain why this might be the case, where I argue that this stems partly from the pitfalls of autoethnographic studies. I also sketch how these pitfalls might be overcome and how doing so and adopting the principle of ‘accountability for reasonableness’ might help to tackle bad leadership. (shrink)

This paper addresses the criticism recently directed at Internet companies who have chosen to do business in China. Currently, in order to conduct business in China, companies must agree to the Chinese government’s rule of self-censoring any information the government deems inappropriate. We start by explaining how some of these companies have violated the human rights of Chinese citizens to freely trade information. We then analyze whether the justifications and excuses offered by these companies are sufficient to absolve them of (...) moral responsibility. We argue that both justifications and excuses offered are insufficient. Wilfully abiding by unjust laws, albeit necessary to do business in China, should not trump moral actions that protect rights. (shrink)

This paper addresses the criticism recently directed at Internet companies who have chosen to do business in China. Currently, in order to conduct business in China, companies must agree to the Chinese government's rule of self-censoring any information the government deems inappropriate. We start by explaining how some of these companies have violated the human rights of Chinese citizens to freely trade information. We then analyze whether the justifications and excuses offered by these companies are sufficient to absolve them of (...) moral responsibility. We argue that both justifications and excuses offered are insufficient. Wilfully abiding by unjust laws, albeit necessary to do business in China, should not trump moral actions that protect rights. (shrink)

Business firms have been explained as internal markets or as communities. To be sustainable, however, they need to reconcile these two constituting elements that have mainly been touted as opposite and part of a dualistic relationship. We suggest that organizations may, in alternative, view market and community as part of a duality, interdependent and mutually constituting processes that may not only contradict each other but also enable one another. The implications of a duality view for business ethics, which articulates market (...) and community elements in a fruitful, mutually enabling relationship, are considered, and duality is presented as a way of transcending what is commonly viewed as opposition, moving organizations both in the direction of humane and competitive finalities. (shrink)

On the 24th June 2015, Feminist Legal Studies and the London School of Economics Law Department hosted an afternoon event with Professor Wendy Brown, Class of 1936 First Professor of Political Science, University of California. Professor Brown kindly agreed to discuss her scholarship on feminist theory, and its relationship to both the law and neoliberalism. The event included an interview by Dr Katie Cruz and a Q&A session, which are presented here in an edited version of the transcript. Sumi Madhock, (...) Professor of Gender Studies, LSE chaired the interview and discussion and introduced Professor Brown’s work. Katie Cruz asked Wendy Brown to reflect upon topics that span her scholarship and activism, including the state of critical, feminist, and Left approaches to rights, neoliberalism, despair and utopianism, and the future of feminist theory and practice in the context of neoliberalism and current debates about intersectionality. Participants in the discussion asked questions on a wide range of issues, including the limits of feminist engagement with law as a tool for social change, the dominance of neoliberalism, imperialist feminism, Islamophobia, secularism, and our attachment to the figure of homo politicus. (shrink)

Review Essay: A Review of Tom Nairn and Paul James, Global Matrix: Nationalism, Globalism and State-Terrorism ; Jan Nederveen Pieterse, Globalization or Empire? ; Patrick Hayden and Chamsy el-Ojeili, Confronting Globalization: Humanity, Justice and the Renewal of Politics.

This paper explores the level of obligation called for by Milton Friedman’s classic essay “The Social Responsibility of Business is to Increase Profits.” Several scholars have argued that Friedman asserts that businesses have no or minimal social duties beyond compliance with the law. This paper argues that this reading of Friedman does not give adequate weight to some claims that he makes and to their logical extensions. Throughout his article, Friedman emphasizes the values of freedom, respect for law, and duty. (...) The principle that a business professional should not infringe upon the liberty of other members of society can be used by business ethicists to ground a vigorous line of ethical analysis. Any practice, which has a negative externality that requires another party to take a significant loss without consent or compensation, can be seen as unethical. With Friedman’s framework, we can see how ethics can be seen as arising from the nature of business practice itself. Business involves an ethics in which we consider, work with, and respect strangers who are outside of traditional in-groups. (shrink)

No one would deny that sustainability is necessary for individual, business, and national survival. How this goal is to be accomplished is a matter of great debate. In this article I will show that the United States and other developed countries have a duty to create sustainable cities, even if that is against a notion of private property rights considered as an absolute. Through eminent domain and regulation, developed countries can fulfill their obligations to current and future generations. To do (...) so, the governments must reject perfectly competitive free market capitalism and the absolute right to private property, and more fully adopt social welfare capitalism as their economic system. The result will be a sustainable society that balances democracy, individual rights and individual flourishing with the community’s flourishing. (shrink)

Welcome precision is brought to the idea, history, types and motives of ethical investment in what will become an authoritative review of the subject. Marc Cooper is a postgraduate researcher at the European Business Management School, University of Wales, and Bodo Schlegelmilch, recently British Rail Professor of Marketing there, has recently been appointed Professor of Marketing at the American Graduate School of International Management (Thunderbird), Phoenix, Arizona.

Welcome precision is brought to the idea, history, types and motives of ethical investment in what will become an authoritative review of the subject. Marc Cooper is a postgraduate researcher at the European Business Management School, University of Wales, and Bodo Schlegelmilch, recently British Rail Professor of Marketing there, has recently been appointed Professor of Marketing at the American Graduate School of International Management (Thunderbird), Phoenix, Arizona.

Is capitalism inimical to community? Yes, say communitarians, a large part of whose body of writing is given over to the elaboration and defense of various forms of this thesis. The aim of the present essay is to contest this answer. Not only, I will argue, is there no good reason for supposing capitalism inimical to community, but there is reason to think it more conducive to community than are the feasible alternatives to it.

Several recent studies indicate that cheating has become both more prevalent and more socially acceptable. In this article I draw parallels between market values and student attitudes about cheating. They include: (1) reduction of a broad range of goods to their economic value, (2) use of non-reciprocity as a guiding principle, (3) valuing the appearance of virtue over real virtue, and (4) reframing dishonesty in a positive light. I posit two ways that market culture influences the willingness to cheat, and (...) discuss the media's role in transmitting this influence. The article concludes with the suggestion that attempts to curtail cheating by further policing students may only exacerbate the problem in the long run. The same contextual factors that help mitigate undesirable market behavior, when cultivated in the classroom, can help to curb student cheating. (shrink)

Is corporate giving a matter of sporadic and altruistic generosity? Or should it be seen more as “a product to be marketed to the public”? The author is Lecturer in International Business in the Department of Commerce of the University of Birmingham, Ashley Building, Edgbaston, Birmingham B15 2TT.

Is corporate giving a matter of sporadic and altruistic generosity? Or should it be seen more as “a product to be marketed to the public”? The author is Lecturer in International Business in the Department of Commerce of the University of Birmingham, Ashley Building, Edgbaston, Birmingham B15 2TT.

Organizational leaders are increasingly emphasizing a stakeholder perspective in order to address concerns about business ethics. This study examined the choices of 94 groups in the context of a business decision-making simulation to determine how specific actions and communications can facilitate the consideration of different stakeholder perspectives. In particular, we examined whether generally framing the business situation as one involving diverse stakeholders versus a primarily profit-driven operation (referred to as framing), and whether specific suggestions that participants consider the concerns of (...) stakeholders versus stockholders in maximizing the value of the firm (referred to as vision priming), would influence group choices and decision outcomes. We tested four experimental conditions against a control in a 2 × 2 experimental design to determine the effects that group choices had on decision outcomes when groups were exposed to stakeholder versus stockholder decision framing and stakeholder versus stockholder vision priming. The results revealed that the consistent conditions outperformed the control condition and that vision priming has a greater impact on decision outcomes than decision framing. (shrink)

The Internet has drastically changed how people interact, communicate, conduct business, seek jobs, find partners, and shop. Millions of people are using social networking sites to connect with others, and employers are using these sites as a source of background information on jobapplicants.Employers report making decisions not to hire people based on the information posted on social networking sites. Few employers have policies in place to govern when and how these online character checks should be used and how to ensure (...) that the information viewed is accurate. In this article, we explore how these inexpensive, informal online character checks are harmful to society. Guidance is provided to employers on when and how to use these sites in a socially responsible manner. (shrink)

The Internet has drastically changed how people interact, communicate, conduct business, seek jobs, find partners, and shop. Millions of people are using social networking sites to connect with others, and employers are using these sites as a source of background information on job applicants. Employers report making decisions not to hire people based on the information posted on social networking sites. Few employers have policies in place to govern when and how these online character checks should be used and how (...) to ensure that the information viewed is accurate. In this article, we explore how these inexpensive, informal online character checks are harmful to society. Guidance is provided to employers on when and how to use these sites in a socially responsible manner. (shrink)

This essay seeks to start a dialogue between two traditions that historically have interpreted the economy in opposing ways: the individualism of classic economic liberalism (CEL), represented by Adam Smith and Milton Friedman, and the communitarianism of Catholic social teaching (CST), interpreted primarily through the teachings of popes and secondarily the U.S. Catholic bishops. The present authors, an economist and a moral theologian who identify with one or the other of the two traditions, strive to clarify objectively their similarities and (...) differences with the opposing perspective. Section one focuses on each position''s perspective of love of self and love of others. We find both CEL and CST saying that self-love, rightly understood, constitutes a moral good and that the love of others serves as an important principle in the political economy. We find less agreement in section two regarding justice and rights, but even here, we discover a few surprises. Both traditions uphold justice (giving to each party what is due) as essential to the political economy, and recognize some similarity in that type of justice called commutative. We note, however, substantial differences regarding a second type of justice that we call "public justice." First, they differ over the extent to which government should be involved. Here the meaning of rights, especially that of individual freedom, arises. Secondly, the traditions diverge over whether benevolence as a motivator ought to serve as a partner for public justice. Thirdly, CEL in general opposes CST''s emphasis on social justice that calls upon institutions to be proactive in helping citizens and groups to become active participants in the economy. We conclude our essay by summarizing our discoveries and by suggesting areas for further dialogue. (shrink)

Having been involved in a slew of recent scandals, many of the world’s largest technology companies embarked on devising numerous codes of ethics, intended to promote improved standards in the conduct of their business. These efforts have attracted largely critical interdisciplinary academic attention. The critics have identified the voluntary character of the industry ethics codes as among the main obstacles to their efficacy. This is because individual industry leaders and employees, flawed human beings that they are, cannot be relied on (...) voluntarily to conform with what justice demands, especially when faced with powerful incentives to pursue their own self-interest instead. Consequently, the critics have recommended a suite of laws and regulations to force the tech companies to better comply with the requirements of justice. At the same time, they have paid little attention to the possibility that individuals acting within the political context, e.g. as lawmakers and regulators, are also imperfect and need not be wholly compliant with what justice demands. This paper argues that such an omission is far from trivial. It creates a heavy argumentative burden on the part of the critics that they by and large fail to discharge. As a result, the case for Big Tech regulation that emerges from the recent literature has substantial lacunae and more work needs to be done before we can accept the critics’ calls for greater state involvement in the industry. (shrink)

A variety of stakeholders including investors, corporate managers, customers, suppliers, employees, researchers, and government policy makers have long been interested in the relationship between the financial performance of a corporation and its commitment to business ethics. As a subject of research, the relations between business ethics and corporate valuation has yet to be thoroughly quantified and investigated. This article is an effort to amend this inadequacy by demonstrating a statistically significant association between ethical commitment and corporate valuation measures. Consistent with (...) anecdotal evidence, we have found a significant association between the ethical commitment of Korean companies and their valuation on the Korean stock market. However, the result reveals that the association between ethical commitment and financial performance is not significantly supported. (shrink)

The essays in this issue of The Journal of Medicine and Philosophy explore an innovative voucher program for encouraging kidney donation. Discussions cluster around a number of central moral and political/theoretical themes: What are the direct and indirect health care costs and benefits of such a voucher system in human organs? Do vouchers lead to more effective and efficient organ procurement and allocation or contribute to greater inequalities and inefficiencies in the transplantation system? Do vouchers contribute to the inappropriate commodification (...) of human body parts? Is there a significant moral difference between such a voucher system and a market in human organs for transplantation? This paper argues that while kidney vouchers constitute a step in the right direction, fuller utilization of market-based incentives, including, but not limited to, barter exchanges, would save more lives and further reduce human suffering. (shrink)

Business owners sometimes refuse to transact with certain customers on principle, given some normative (political, personal, moral, or religious) commitment which they hold. I call such refusals ‘conscientious refusals.’ Evaluating two possible positions on the permissibility of vendor conscientious refusals, I argue in favor of an impersonal market in which vendor conscientious refusals are generally not justified. I argue impersonal norms, which crowd out conscientious considerations, support pluralist, healthy markets from which we reap individual and communal benefits; further, impersonal markets (...) buttress individual freedom by providing a distinctive sphere of activity characterized by norms of radical inclusivity. These considerations constitute a strong case that vendor conscientious refusals are ceteris paribus unjustified. I conclude by addressing several potential objections to this view. (shrink)

This article looks into the process of searching for new forms of legitimacy among firms through corporate discourse. Through the analysis of annual sustainability reports, we have determined the existence of three types of rhetoric: (1) strategic (embedded in the scientific-economic paradigm); (2) institutional (based on the fundamental constructs of Corporate Social Responsibility theories); and (3) dialectic (which aims at improving the discursive quality between the corporations and their stakeholders). Each one of these refers to a different form of legitimacy (...) and is based on distinct theories of the firm analyzed in this article. We claim that dialectic rhetoric seems to signal a new understanding of the firm's role in society and a search for moral legitimation. However, this new form of rhetoric is still fairly uncommon although its use is growing. Combining theory and business examples, this article may help managers and researchers in the conceptualization of how firms make sense of their role in society and what forms of differentiation they strive for through their rhetoric strategies. (shrink)

This paper represents one of the first critical social science interrogations of an agrifood just-in-case transition. The just-in-case transition speaks to a philosophy that values building buffers and flexibility into longer value chains to make them more resilient to shocks, which stands in contrast to the just-in-time philosophy with its emphasis on long, specialized, and often inflexible networks. Influenced by COVID-related disruptions and climate change induced uncertainties, the just-in-case transition examined here centers on the heightened interest in vertical farm-anchored supply (...) chains. Interviewing actors responsible for promoting vertical farm-anchored local supply chains in the US and Canada, I attempt to sketch out how these spaces, infrastructures, and practices care. Put differently, as understood through a feminist ethics of care, _whom_ and _what_ are cared for and _how_ is care practiced in these just-in-case transitions and _why_? Enumerative politics was observed in the data—the idea that we can make care count. Practices and discourses linked to infrastructural/supply chain transitions are highlighted that result in care being narrowly conceived as a technical or transactional matter. The paper concludes reflecting on what it means to afford just-in-case agrifood transitions animated by matters of care that hold greater emancipatory potentials. (shrink)

In a weak economy, both managers and scholars may seek an ethical framework to guide decisions about layoffs and downsizing. Agency and stakeholder theories offer limited practical guidance about ethical norms. This paper looks to the Talmud, an ancient compilation of law, legend, and critical analysis for insights into the modern employment relationship. In its method of analysis and in its specific discussion of the treatment of employees, the Talmud provides an approach and a framework for assessing the ethical standing (...) of particular layoff decisions. The article introduces readers to elements of Talmudic analysis and then applies that framework to particular kinds of corporate downsizing decisions. (shrink)