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Virtuous Markets

Business Ethics Quarterly 7 (1):17-31 (1997)

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  1. Whistle-Blowing for Profit: An Ethical Analysis of the Federal False Claims Act.Thomas L. Carson, Mary Ellen Verdu & Richard E. Wokutch - 2008 - Journal of Business Ethics 77 (3):361-376.
    This paper focuses on the 1986 Amendments to the False Claims Act of 1863, which offers whistle-blowers financial rewards for disclosing fraud committed against the U.S. government. This law provides an opportunity to examine underlying assumptions about the morality of whistle-blowing and to consider the merits of increased reliance on whistle-blowing to protect the public interest. The law seems open to a number of moral objections, most notably that it exerts a morally corrupting influence on whistle-blowers. We answer these objections (...)
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  • The Rehabilitation of Adam Smith for Catholic Social Teaching.Gregory Wolcott - 2018 - Journal of Business Ethics 149 (1):57-82.
    Catholic Social Teaching takes a rather cautious view toward the value of the ideas of Adam Smith, due to his emphasis on negative political and economic liberty. Detractors of Smith within CST point to what they consider to be deficiencies within his works: an impoverished moral anthropology, a lack of concern for the common good, and markets untethered to human needs. Defenders of Smith within CST tend to emphasize the material benefits that derive from Smithian institutions, such as economic growth, (...)
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  • The New (Old) Case for the Ethics of Business.Gregory Wolcott - 2015 - Journal of Business Ethics 132 (1):127-146.
    In this paper, I argue for the ethics of business based on the way that business activity may embody a vocation to partake in “the Good.” Following a Platonist framework for ethics and recent work on vocations by Robert M. Adams, I argue that understanding the ethics of vocations allows us to avoid the charges that business persons have to do something more for others—often couched in terms of social responsibility, sustainability, or consideration of stakeholders—in order to legitimize their careers (...)
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  • Reflections on ethics, sport and the consequences of professionalisation.Paul Whysall - 2014 - Business Ethics: A European Review 23 (4):416-429.
    This review of ethical implications of the professionalisation of sport argues that conventional sports ethics, which in the spirit of amateurism emphasise concepts of fair play, are increasingly inappropriate in professional sport. The formalist position, that fair play requires playing within the rules, is explored as are notions of playing to the rules, gamesmanship and cheating. It is argued that ethical problems in elite sport increase as a result of external factors including the celebrity of sportspeople, a tarnished image of (...)
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  • Ubuntu and Business Ethics: Problems, Perspectives and Prospects.Andrew West - 2014 - Journal of Business Ethics 121 (1):47-61.
    The African philosophy of Ubuntu is typically characterised as a communitarian philosophy that emphasises virtues such as compassion, tolerance and harmony. In recent years there has been growing interest in this philosophy, and in how it can be applied to a variety of disciplines and issues. Several authors have provided useful introductions of Ubuntu in the field of business ethics and suggested theoretical ways in which it could be applied. The purpose of this paper is to extend this discussion by (...)
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  • A framework for organizational virtue: the interrelationship of mission, culture and leadership.J. Thomas Whetstone - 2005 - Business Ethics, the Environment and Responsibility 14 (4):367-378.
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  • A framework for organizational virtue: the interrelationship of mission, culture and leadership.J. Thomas Whetstone - 2005 - Business Ethics: A European Review 14 (4):367-378.
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  • Looking for Answers in All the Wrong Places.Earl W. Spurgin - 2004 - Business Ethics Quarterly 14 (2):293-313.
    Abstract:In recent years, many business ethicists have raised problems with the “ethics pays” credo. Despite these problems, many continue to hold it. I argue that support for the credo leads business ethicists away from a potentially fruitful approach found in Hume’s moral philosophy. I begin by demonstrating that attempts to support the credo fail because proponents are trying to provide an answer to the “Why be moral?” question that is based on rational self-interest. Then, I show that Hume’s sentiments-based moral (...)
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  • How different is neo‐Aristotelian virtue from positive organizational virtuousness?Alejo José G. Sison & Ignacio Ferrero - 2015 - Business Ethics: A European Review 24 (S2):78-98.
    The purpose of this article is to explain the differences between neo-Aristotelian virtue and positive organizational virtuousness from the virtue ethics perspective. Most studies use virtues and virtuousness interchangeably. A few others try to explain their differences from the positive organizational science perspective. Although closely related, we believe that these two notions are not identical. If we understand neo-Aristotelian virtue correctly, then it cannot be judged exclusively on what is externally verifiable, as is the case with virtuousness. For these reasons, (...)
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  • Gibbs and the problems of satisfaction and well-being.Michael Schwartz - 2009 - Business Ethics: A European Review 18 (4):408-411.
    This paper responds to a 2004 paper by Paul Gibbs in which he remonstrates that marketing currently has no concern with the notion of well‐being; and furthermore that marketing lacks ‘an adequate moral grounding’. Gibbs advances the moral expectation that marketers consider not merely satisfying their actual customers, but also consider the well‐being of the larger society. However, this paper contemplates whether such an expectation is not due to some confusion by Gibbs between satisfaction and exchange in marketing, and questions (...)
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  • Before Virtue: Biology, Brain, Behavior, and the “Moral Sense”.Eugene Sadler-Smith - 2012 - Business Ethics Quarterly 22 (2):351-376.
    ABSTRACT:Biological, brain, and behavioral sciences offer strong and growing support for the virtue ethics account of moral judgment and ethical behavior in business organizations. The acquisition of moral agency in business involves the recognition, refinement, and habituation through the processes of reflexion and reflection of a moral sense encapsulated in innate modules for compassion, hierarchy, reciprocity, purity, and affiliation adaptive for communal life both in ancestral and modern environments. The genetic and neural bases of morality exist independently of institutional frameworks (...)
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  • Before Virtue: Biology, Brain, Behavior, and the “Moral Sense”.Eugene Sadler-Smith - 2012 - Business Ethics Quarterly 22 (2):351-376.
    ABSTRACT:Biological, brain, and behavioral sciences offer strong and growing support for the virtue ethics account of moral judgment and ethical behavior in business organizations. The acquisition of moral agency in business involves the recognition, refinement, and habituation through the processes of reflexion and reflection of a moral sense encapsulated in innate modules for compassion, hierarchy, reciprocity, purity, and affiliation adaptive for communal life both in ancestral and modern environments. The genetic and neural bases of morality exist independently of institutional frameworks (...)
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  • Fair Trade: Towards an Economics of Virtue. [REVIEW]Alex Nicholls - 2010 - Journal of Business Ethics 92 (2):241 - 255.
    Over the past 10 years the sales of Fair Trade goods - particularly those carrying the Fair Trade Labelling Organizations International (FLO) certification mark - have grown exponentially. Academic interest in Fair Trade has also grown significantly over the past decade with researchers analysing the model from a wide range of theoretical perspectives. Whilst Fair Trade is generally acknowledged as a new supply chain model, it has tended to be studied at the micro/organisational level rather than at the macro/systems level. (...)
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  • The Virtue of Governance, the Governance of Virtue.Geoff Moore - 2012 - Business Ethics Quarterly 22 (2):293-318.
    The current economic and preceding financial crises seem to provide evidence in favour of the self-destruction thesis of capitalism. Responses to the crisis have been polarised. Some suggest that regulatory changes are all that is needed. Others suggest the need to change the economic system by developing a new global economic ethic. The first is too limited, the second too utopian. This article suggests that a MacIntyrean virtue ethics approach provides both a more convincing diagnosis of the problem and leads (...)
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  • On the Implications of the Practice–Institution Distinction.Geoff Moore - 2002 - Business Ethics Quarterly 12 (1):19-32.
    After exploring MacIntyre’s (1985) practice—institution distinction, the article demonstrates its applicability to business-as-practice and to corporations as institutions. It then considers the implications of MacIntyre’s schema to ethical schizophrenia, to the claim that themarket is a source of the virtues and to the opposite claim that capitalism corrodes character. A fully worked out modern virtue ethics, based on MacIntyre’s work, is then established and the claim is made and substantiated that such an understanding of MacIntrye’s work revitalises it and makes (...)
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  • Hives and horseshoes, Mintzberg or MacIntyre: what future for corporate social responsibility?Geoff Moore - 2003 - Business Ethics, the Environment and Responsibility 12 (1):41-53.
    A horseshoe is regarded as a lucky, perhaps even romantic, symbol of our industrial heritage. Why is it, then, that much of English literature, from Mandeville's ‘Grumbling Hive’ on, portrays business in a murky light? The paper begins with an analysis of this phenomenon and concludes that it is the institutionalisation and legitimisation of avarice and its consequential effects that gives rise to such a portrayal. A horseshoe has also been used as a convenient means of conceptualising an answer to (...)
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  • The Big Five and Organizational Virtue.Dennis J. Moberg - 1999 - Business Ethics Quarterly 9 (2):245-272.
    Abstract:Recent developments in personality research point to an alchemy of character composed of five elements: extroversion, agreeableness, conscientiousness, neuroticism, and openness to experience. This paper surveys this research for its implications to the study of the virtues in organizational ethics. After subjecting each of these five character traits to several tests as to what constitutes a virtue, the empirical evidence supports an organizational virtue of agreeableness and an organizational virtue of conscientiousness. Although the empirical evidence falls short, an argument is (...)
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  • The Big Five and Organizational Virtue.Dennis J. Moberg - 1999 - Business Ethics Quarterly 9 (2):245-272.
    Abstract:Recent developments in personality research point to an alchemy of character composed of five elements: extroversion, agreeableness, conscientiousness, neuroticism, and openness to experience. This paper surveys this research for its implications to the study of the virtues in organizational ethics. After subjecting each of these five character traits to several tests as to what constitutes a virtue, the empirical evidence supports an organizational virtue of agreeableness and an organizational virtue of conscientiousness. Although the empirical evidence falls short, an argument is (...)
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  • Incorporating Virtues: A Speech Act Approach to Understanding how Virtues Can Work in Business.Todd Mei - 2021 - Philosophy of Management 21 (1):15-29.
    One of the key debates about applying virtue ethics to business is whether or not the aims and values of a business actually prevent the exercise of virtues. Some of the more interesting disagreement in this debate has arisen amongst proponents of virtue ethics. This article analyzes the central issues of this debate in order to advance an alternative way of thinking about how a business can be a form of virtuous practice. Instead of relying on the paired concepts of (...)
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  • Human Development and the Pursuit of the Common Good: Social Psychology or Aristotelian Virtue Ethics? [REVIEW]Felix Martin - 2011 - Journal of Business Ethics 100 (S1):89-98.
    The encyclical proclaims the centrality of human development, which includes acting with gratuitousness and solidarity in pursuing the common good. This paper considers first whether such relationships of gratuitousness and solidarity can be analysed through the prism of traditional theories of social psychology, which are highly influential in current management research, and concludes that certain aspects of those theories may offer useful tools for analysis at the practical level. This is contrasted with the analysis of such relationships through Aristotelian virtue (...)
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  • Reconciliation in Business Ethics: Some Advice from Aristotle.Edwin M. Hartman - 2008 - Business Ethics Quarterly 18 (2):253-265.
    It may be nearly impossible to use standard principles to make a decision about a complex ethical case. The best decision, say virtue ethicists in the Aristotelian tradition, is often one that is made by a person of good character who knows the salient facts of the case and can frame the situation appropriately. In this respect ethical decisions and strategic decisions are similar. Rationality plays a role in good ethical decision-making, but virtue ethicists emphasize the importance of intuitions and (...)
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  • Do Markets Crowd Out Virtues? An Aristotelian Framework.J. J. Graafland - 2010 - Journal of Business Ethics 91 (1):1-19.
    The debate on the influence of markets on virtues has focused on two opposite hypotheses: the doux commerce thesis and the self-destruction thesis. Whereas the doux commerce hypothesis assumes that capitalism polishes human manners, the self-destruction hypothesis holds that capitalism erodes the moral foundation of society. This paper will develop a more balanced position by using the virtue ethics developed by Aristotle, which distinguishes several virtues. The research will focus on the question for which virtues the doux commerce or self-destruction (...)
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  • Myth and Ethics in Business.Aviva Geva - 2001 - Business Ethics Quarterly 11 (4):575-597.
    Business myth is generally treated in business ethics literature as a mental obstacle that must be removed in order to prepare the ground for rational thinking on the ethical aspect of business conduct. This approach, which focuses on the content of myth, does not explicate the nature and function of myth. Based on the study of myth in the fields of humanities and social sciences, this paper develops a theoretical framework and analytical tool-the revolving-door model-for researching myth in business. The (...)
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  • Buyer Beware: A Critique of Leading Virtue Ethics Defenses of Markets.Roberto Fumagalli - 2020 - Journal of Social Philosophy 51 (3):457-482.
    Over the last few decades, there have been intense debates concerning the effects of markets on the morality of individuals’ behaviour. On the one hand, several authors argue that markets’ ongoing expansion tends to undermine individuals’ intentions for mutual benefit and virtuous character traits and actions. On the other hand, leading economists and philosophers characterize markets as a domain of intentional cooperation for mutual benefit that promotes many of the character traits and actions that traditional virtue ethics accounts classify as (...)
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  • A quantitative analysis of authors, schools and themes in virtue ethics articles in business ethics and management journals. [REVIEW]Ignacio Ferrero & Alejo José G. Sison - 2014 - Business Ethics: A European Review 23 (4):375-400.
    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 (...)
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  • The Marketplace of Morality: First Steps Toward a Theory of Moral Choice.Thomas W. Dunfee - 1998 - Business Ethics Quarterly 8 (1):127-145.
    Abstract:A marketplace of morality (MOM) is a place where individuals act under the influence of their moral desires. A MOM produces an output representing the aggregate acted-upon moral preferences of its participants. Individual behavior is influenced by POPs, or passions of propriety. People implement POP preferences when they buy stock, purchase goods and services, choose jobs and so on. Firms respond by social cause marketing and other devices which encourage customers to align their social preferences with those represented by the (...)
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  • The Marketplace of Morality: First Steps Toward a Theory of Moral Choice.Thomas W. Dunfee - 1998 - Business Ethics Quarterly 8 (1):127-145.
    Abstract:A marketplace of morality (MOM) is a place where individuals act under the influence of their moral desires. A MOM produces an output representing the aggregate acted-upon moral preferences of its participants. Individual behavior is influenced by POPs, or passions of propriety. People implement POP preferences when they buy stock, purchase goods and services, choose jobs and so on. Firms respond by social cause marketing and other devices which encourage customers to align their social preferences with those represented by the (...)
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  • Virtue Ethics, Aesthetics, and Reflective Practices in Business.John Dobson - 2022 - Philosophy of Management 21 (4):493-505.
    This paper begins from the context of virtue ethics theory as applied to business ethics. We note that the concept of a practice therein lacks the full richness of the Aristotelian concept of virtue. In essence, when applied to business in the virtue ethics literature, the practice loses its reflective quality. It becomes beholden to, and irredeemably interdependent with, the economic institution (i.e., the for-profit firm) that houses the practice. Furthermore, the conventional practice of virtue ethics lacks the self-reflective ability (...)
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  • Envisioning the Aesthetic Firm.John Dobson - 2021 - Philosophy of Management 20 (3):355-368.
    This paper draws on the work of Alain Badiou and Martin Heidegger to construct a postructural theory of the firm. The ideal firm is conceived as a technology that facilitates a technology-free void/site of potential. For actors within this firm to be ethical requires their achievement of human subjecthood through aesthetic fidelity to the site-induced events. Heidegger’s concerns regarding the enframing effects of technology and his recognition of the truth-revealing qualities of art, are incorporated here into a theory of the (...)
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  • Two Forms of Virtue Ethics: Two Sets of Virtuous Action in the Fire Service Dispute?David Dawson - 2015 - Journal of Business Ethics 128 (3):585-601.
    There has been increasing interest in the relevance of virtue approaches to ethics over the past 15 years. However, debate surrounding the virtue approach in the business, management and organisational studies literature has lacked progress. First, this literature focuses on a narrow range of philosophers, and, second, it has failed to analyse properly the consequences of virtue theory for action in practical settings other than in abstract terms. In order to begin addressing these issues, this paper compares what two virtue (...)
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  • Organisational Virtue, Moral Attentiveness, and the Perceived Role of Ethics and Social Responsibility in Business: The Case of UK HR Practitioners.David Dawson - 2018 - Journal of Business Ethics 148 (4):765-781.
    Examination of the application of virtue ethics to business has only recently started to grapple with the measurement of virtue frameworks in a practical context. This paper furthers this agenda by measuring the impact of virtue at the level of the organisation and examining the extent to which organisational virtue impacts on moral attentiveness and the perceived role of ethics and social responsibility in creating organisational effectiveness. It is argued that people who operate in more virtuous organisational contexts will be (...)
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  • Measuring Individuals’ Virtues in Business.David Dawson - 2018 - Journal of Business Ethics 147 (4):793-805.
    This paper argues that Shanahan and Hyman’s Virtue Ethics Scale should be abandoned and that work should begin to develop better-grounded measures for identifying individual business virtue in context. It comes to this conclusion despite the VES being the only existing measure of individuals’ virtues that focuses on business people in general, rather than those who hold specific leadership or audit roles. The paper presents a study that, in attempting to validate the VES, raises significant concerns about its construction. In (...)
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  • MacIntyre: From Transliteration to Translation.Carter Crockett - 2008 - Philosophy of Management 7 (1):45-66.
    Despite the profound potential of MacIntyre’s revolutionary virtue paradigm, management scholars have struggled to make sense of one of the most contentious and insightful philosophers of our time. This conceptual paper attempts to move past the transliteration of MacIntyre in favour of a translation of his contribution in a manner than retains something closer to its full meaning, while helpfully guiding empirical efforts to apply this emerging paradigm to modern organisations. This translation entails a dismissal of MacIntyre’s hypercritical bias in (...)
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  • Between Markets, Politics, and Ethics: On Vendor Conscience and Impersonal Markets.Matthew Caulfield - 2023 - Journal of Business Ethics 188 (2):307-326.
    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 (...)
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  • Whistle-blowing for profit: An ethical analysis of the federal false claims act.Thomas L. Carson, Mary Ellen Verdu & Richard E. Wokutch - 2008 - Journal of Business Ethics 77 (3):361 - 376.
    This paper focuses on the 1986 Amendments to the False Claims Act of 1863, which offers whistle-blowers financial rewards for disclosing fraud committed against the U.S. government. This law provides an opportunity to examine underlying assumptions about the morality of whistle-blowing and to consider the merits of increased reliance on whistle-blowing to protect the public interest. The law seems open to a number of moral objections, most notably that it exerts a morally corrupting influence on whistle-blowers. We answer these objections (...)
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  • Self-Authorship through Mutual Benefit: Toward a Liberal Theory of the Virtues in Business.Caleb Bernacchio - forthcoming - Business Ethics Quarterly:1-30.
    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 (...)
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  • Freedom, Markets and Moral Motivation: Towards a More Adequate Account of the Implicit Morality of the Market.Caleb Bernacchio - 2024 - Journal of Human Values 30 (1):59-74.
    The market failures approach is amongst the most influential theories of business ethics. Its interest within the field is, in large part, a result of its rejection of moralism and any sort of applied ethics approach, favouring, in contrast, a focus on the institutionally embodied goal of economic activity, which it takes to be that of Pareto efficiency. From this articulation of the goal, or purpose, of markets, a set of efficiency imperatives are derived that are taken to comprise the (...)
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  • The Misappropriation of MacIntyre.Ron Beadle - 2002 - Philosophy of Management 2 (2):45-54.
    This paper considers discussions of the work of Alasdair MacIntyre in management literature. It argues that management scholars who have attempted to appropriate his After Virtue as a supportive text for conventional business ethics do so only by misreading or by ignoring his other work. It shows that MacIntyre does not argue for a reformed capitalism in which individual virtue overcomes institutional vice. Rather he argues that capitalist businesses are inherently vicious and that therefore individual virtue cannot be realised within (...)
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  • Virtuousness and the Common Good as a Conceptual Framework for Harmonizing the Goals of the Individual, Organizations, and the Economy.Surendra Arjoon, Alvaro Turriago-Hoyos & Ulf Thoene - 2018 - Journal of Business Ethics 147 (1):143-163.
    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 (...)
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  • Decent Work: The Moral Status of Labor in Human Resource Management.Miguel Alzola - 2018 - Journal of Business Ethics 147 (4):835-853.
    In this paper, I aim to critically examine a set of assumptions that pervades human resource management and HR practices. I shall argue that they experience a remarkable ethics deficit, explain why this is so, and explore how the UN Global Compact labor principles may help taking ethics seriously in HRM. This paper contributes to the understanding and critical examination of the undisclosed beliefs underlying theory and practice in human resource management and to the examination of how the UN Global (...)
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