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On Ethics and Economics

Tijdschrift Voor Filosofie 51 (4):722-723 (1989)

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  1. The Value Dynamics of Total Quality Management: Ethics and the Foundations of TQM.Andrew C. Wicks - 2001 - Business Ethics Quarterly 11 (3):501-535.
    Abstract:Total Quality Management (TQM) has been the object of extensive discussion within the popular literature and is increasingly of interest among management scholars. Recent scholarship has focused on the theoretical foundations of TQM, particularly what makes it work, why so many firms have had problems implementing it, and under what circumstances it may create a sustainable advantage for individual firms. This paper extends the work in theory development regarding TQM and offers an empirically testable theoretical model of its function. The (...)
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  • Developing Students’ Competence for Ethical Reflection While Attending Business School.Heidi von Weltzien Hoivik - 2009 - Journal of Business Ethics 88 (1):5-9.
    Business students early on should be offered a course presenting and analyzing ethical dilemmas they will face as human beings both in the business world and in society. However, such a course should use literature, plays, and novels to illustrate ethical norms and values in the intertwined relationships of human activities. Better than business case studies, literature offers portraits of characters as leaders, employees, consultants, and other professionals, as ordinary human beings with conflicting desires, drives, and ambitions. Literary texts offer (...)
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  • The rationality-of-ends/market-structure grid: Positioning and contrasting different approaches to business ethics.Sigmund Wagner-Tsukamoto - 2008 - Business Ethics, the Environment and Responsibility 17 (3):326–346.
    This paper presents the 'rationality-of-ends/market-structure grid'. With this grid, the article contrasts, in economic terms, different approaches to business ethics and addresses the question how far and what type of business ethics is feasible. Four basic scenarios for business ethics are outlined that imply different conceptualizations of business ethics. The grid interrelates a rationality-of-ends dimension with a market-structure dimension. The rationality-of-ends dimension ranges from opportunism and self-interested egoism to self-interested altruism and ultimately to authentic altruism. The market-structure dimension ranges from (...)
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  • An Economic Approach to Business Ethics: Moral Agency of the Firm and the Enabling and Constraining Effects of Economic Institutions and Interactions in a Market Economy.Sigmund Wagner-Tsukamoto - 2005 - Journal of Business Ethics 60 (1):75-89.
    The paper maps out an alternative to a behavioural (economic) approach to business ethics. Special attention is paid to the fundamental philosophical principle that any moral ‘ought’ implies a practical ‘can’, which the paper interprets with regard to the economic viability of moral agency of the firm under the conditions of the market economy, in particular competition. The paper details an economic understanding of business ethics with regard to classical and neo-classical views, on the one hand, and institutional, libertarian thought, (...)
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  • The ethical dimension of economic choices.Radu Vranceanu - 2005 - Business Ethics, the Environment and Responsibility 14 (2):94–107.
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  • Public policy and the conditional value of happiness.Jan-Willem van der Rijt - 2013 - Economics and Philosophy 29 (3):381-408.
    This paper examines the increasingly popular view that new insights from the science of subjective well-being (SSWB) should play a prominent role in the determination of public policy. Though there are instrumental reasons for caring about societal happiness too, these political aspirations of the SSWB appear to be mostly intrinsically motivated. As the intrinsic value of happiness is endorsed across the political happiness as a fitting response to the state of the world, authenticity, and merit – it is shown that (...)
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  • Deliberative institutional economics, or does homo oeconomicus argue?: A proposal for combining new institutional economics with discourse theory.Anne van Aaken - 2002 - Philosophy and Social Criticism 28 (4):361-394.
    Institutional economics and discourse theory stand unconnected next to each other, in spite of the fact that they both ask for the legitimacy of institutions (normative) and the functioning and effectiveness of institutions (positive). Both use as theoretical constructions rational individuals and the concept of consensus for legitimacy. Whereas discourse theory emphasizes the conditions of a legitimate consensus and could thus enable institutional economics to escape the infinite regress of judging a consensus legitimate, institutional economics has a tested social science (...)
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  • Are Measures of Well-Being Philosophically Adequate?Willem van der Deijl - 2017 - Philosophy of the Social Sciences 47 (3):209-234.
    The concept of well-being is increasingly gaining acceptance as an object of science, and many different types of well-being measures have been developed. A debate has emerged about which measures are able to capture well-being successfully. An important underlying problem is that there is no unified conceptual framework about the nature of well-being—a hotly debated topic of philosophical discussion. I argue that while there is little agreement about the nature of well-being in philosophy, there is an important agreement on some (...)
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  • Liberal Resourcism: Problems and Possibilities.Peter Vallentyne & Bertil Tungodden - 2013 - Journal of Social Philosophy 44 (4):348-369.
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  • Debate: Capabilities versus opportunities for well-being.Peter Vallentyne - 2005 - Journal of Political Philosophy 13 (3):359–371.
    Amartya Sen and Martha Nussbaum have argued that justice is concerned, at least in part, with the distribution of capabilities (opportunities to function). Richard Arneson, G.A. Cohen, and John Roemer have argued that justice is concerned with something like the distribution of opportunities for well-being. I argue that, although some versions of the capability view are incompatible with some versions of the opportunity for well-being view, the most plausible version of the capability view is identical to a slight generalization of (...)
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  • Efficiency, Effectiveness and Legitimation: Criteria for the Evaluation of Norms.Liisa Uusitalo - 1989 - Ratio Juris 2 (2):194-201.
    The paper deals with the mutual interest of both economic and social theory in exploring a broader concept of the rational and in finding validity claims for rational discourse. Efficiency and effectiveness are discussed as possible validity criteria in evaluating norms in practical discussion. In addition to the problem of defining validity criteria for argumentation on norms and social choices, a major difficulty arises from the lack of a legitimate reflective centre in society which could integrate behaviour with norms and (...)
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  • A critique of Sumner's account of welfare.Anton Tupa - 2010 - Utilitas 22 (1):36-51.
    Wayne Sumner, in the first six chapters of his excellent book Welfare, Happiness and Ethics, argues for what he calls an authentic life satisfaction theory of welfare. Somewhat generally, Sumner's theory of welfare is a sophisticated subjective account that treats one's happiness of a certain sort, and in the right conditions, as enhancing one's welfare. In this essay, I critically explore Sumner's account of welfare. I argue that Sumner's arguments for his own account of welfare, when followed to their logical (...)
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  • Moral Compliance and the Concealed Charm of Prudence.Jan Tullberg - 2009 - Journal of Business Ethics 89 (4):599-612.
    The key to moral behavior is often perceived to consist of ignoring rational self-interest and instead following norms recommended by religious tradition and moral philosophy. A central issue is the connection between these ambitions and actual behavior. Are an idealistic mood and an ethics of ambition the way out of an iron cage of individualistic rational behavior? Or is ethics best served by rules and incitements in harmony with rationality? The article discusses morality from the perspective of compliance. A normative (...)
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  • Well-being: Psychological research for philosophers.Valerie Tiberius - 2006 - Philosophy Compass 1 (5):493–505.
    Well-being in the broadest sense is what we have when we are living lives that are not necessarily morally good, but good for us. In philosophy, well-being has been an important topic of inquiry for millennia. In psychology, well-being as a topic has been gathering steam very recently and this research is now at a stage that warrants the attention of philosophers. The most popular theories of well-being in the two fields are similar enough to suggest the possibility of interdisciplinary (...)
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  • The Global Moral Compass for Business Leaders.Lindsay J. Thompson - 2010 - Journal of Business Ethics 93 (S1):15 - 32.
    Globalization, with its undisputed benefits, also presents complex moral challenges that business leaders cannot ignore. Some of this moral complexity is attributable to the scope and nature of specific issues like climate change, intellectual property rights, economic inequity, and human rights. More difficult aspects of moral complexity are the structure and dynamics of human moral judgment and the amplified universe of global stakeholders with competing value claims and value systems whose interests must be considered and often included in the decision-making (...)
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  • Agriculture and working-class political culture: A lesson from The Grapes of Wrath.Paul B. Thompson - 2007 - Agriculture and Human Values 24 (2):165-177.
    John Steinbeck’s 1939 novel can be given a reading that links events and the mentality of characters to mainstream schools of liberal and neo-liberal political theory: libertarianism, egalitarianism, and utilitarianism. Each of these schools is sketched in outline and applied to topics in rural political culture. While it is likely that Steinbeck himself would have identified with an egalitarian or utilitarian view, he resists the temptation to deny his Okie characters an authentic voice that matches none of these schools so (...)
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  • No Title available: Reviews.Richard F. Teichgraeber - 1990 - Economics and Philosophy 6 (1):165-169.
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  • Adaptation and the Measurement of Well-being.Tim Taylor - 2014 - Ethics and Social Welfare 8 (3):248-261.
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  • Shared Value and the Impartial Spectator Test.Isabelle Szmigin & Robert Rutherford - 2013 - Journal of Business Ethics 114 (1):171-182.
    Growing inequality and its implications for democratic polity suggest that corporate social responsibility has not proved itself in twenty-first century business, largely as it lacks clear criteria of demarcation for businesses to follow. Today the problem is viewed by many commentators as an ethical challenge to business itself. In response to this challenge, we begin by examining Porter and Kramer’s :64–77, 2011) call for a shift from a social responsibility to a shared value framework and the need to respond to (...)
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  • A failure to communicate: the fact-value divide and the Putnam-Dasgupta debate.Huei-Chun Su & David Colander - 2013 - Erasmus Journal for Philosophy and Economics 6 (2):1.
    This paper considers the debate between economists and philosophers about the role of values in economic analysis by examining the recent debate between Hilary Putnam and Sir Partha Dasgupta. It argues that although there has been a failure to communicate there is much more agreement than it seems. If Dasgupta's work is seen as part of the methodological tradition expounded by John Stuart Mill and John Neville Keynes, economists and philosophers will have a better basis for understanding each other. Unlike (...)
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  • Can’t Buy Me Love.Jacob Sparks - 2017 - Journal of Philosophical Research 42:341-352.
    Critics of commodification often claim that the buying and selling of some good communicates disrespect or some other inappropriate attitude. Such semiotic critiques have been leveled against markets in sex, pornography, kidneys, surrogacy, blood, and many other things. Brennan and Jaworski (2015a) have recently argued that all such objections fail. They claim that the meaning of a market transaction is a highly contingent, socially constructed fact. If allowing a market for one of these goods can improve the supply, access or (...)
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  • Business Ethics and Internal Social Criticism.Scott Sonenshein - 2005 - Business Ethics Quarterly 15 (3):475-498.
    Abstract:The purpose of this paper is to present an understanding of business ethics based on a theory of internal social criticism. Internal social criticism focuses on how members of a business organization debate the meanings of their shared traditions for the purpose of locating and correcting hypocrisy. Organizations have thick moral cultures that allow them to be self-governing moral communities. By considering organizations as interpretive moral communities, I challenge the conventional notion that moral criticism is based primarily on exogenous moral (...)
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  • Kauṭilya on moral, market, and government failures.Balbir S. Sihag - 2009 - International Journal of Hindu Studies 13 (1):83-102.
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  • The Role of Moral Judgments Within Expectancy-Value-Based Attitude-Behavior Models.Richard Shepherd & Paul Sparks - 2002 - Ethics and Behavior 12 (4):299-321.
    Rational choice models are characterized by the image of the self-interested Homo economicus. The role of moral concerns, which may involve a concern for others' welfare in people's judgments and choices, questions the descriptive validity of such models. Increasing evidence of a role for perceived moral obligation within the expectancy-value-based theory of reasoned action and the theory of planned behavior indicates the importance of moral-normative influences in social behavior. In 2 studies, the influence of moral judgments on attitudes toward food (...)
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  • Imperfect markets: Business ethics as an easy virtue. [REVIEW]S. Prakash Sethi - 1994 - Journal of Business Ethics 13 (10):803 - 815.
    This paper marks a radical diversion from the large body of prevailing literature in business ethics which primarily views the issue in individual-personal terms, i.e., corporate executive and employee, and suggests that making corporations more ethical would primarily come through changes in executive behavior. While this approach has strong intellectual roots in moral philosophy and religion, it fails in explaining the persistence of unethical and illegal behavior among corporations of all sizes, financial health, competitive market conditions, and, level of individual (...)
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  • Money and Value: On The Ethics and Economics of Finance.Amartya Sen - 1993 - Economics and Philosophy 9 (2):203-227.
    I feel deeply honored and privileged to have the opportunity of giving the first Baffi Lecture at the Bank of Italy. Paolo Baffi was not only a distinguished banker and financial expert, he was also a remarkable economist and a visionary social thinker. He had outstanding technical expertise in many different fields, but combined his intellectual eminence with a profound sense of values. As Governor Ciampi put it at the general meeting of the Bank of Italy last May, Paolo Baffi (...)
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  • Adam Smith and the contemporary world.Amartya Sen - 2010 - Erasmus Journal for Philosophy and Economics 3 (1):50-67.
    This paper argues that many of Adam Smith’s insights,particularly those in his Theory of moral sentiments, have a relevance tocontemporary thought about economics and ethics that is currentlyunderappreciated. In economics, for example, Smith was concerned notonly with the sufficiency of self-interest at the moment of exchange butalso with the wider moral motivations and institutions required tosupport economic activity in general. In ethics, Smith’s concept of animpartial spectator who is able to view our situation from a criticaldistance has much to contribute (...)
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  • Opportunity and preference learning.Christian Schubert - 2015 - Economics and Philosophy 31 (2):275-295.
    :Robert Sugden has suggested a normative standard of freedom as ‘opportunity’ that is supposed to help realign normative economics – with its traditional rational choice orientation – with behavioural economics. While allowing preferences to be incoherent, he wants to maintain the anti-paternalist stance of orthodox welfare economics. His standard, though, presupposes that people respond to uncertainty about their own future preferences by dismissing any kind of self-constraint. We argue that the approach lacks psychological substance: Sugden's normative benchmark – the ‘responsible (...)
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  • Covid 19 - some Lessons from Public Administrations for Humanistic Management.Renato Ruffini, Valerio Traquandi, Marta Ingaggiati & Giovanni Barbato - 2022 - Humanistic Management Journal 7 (1):157-177.
    In order to understand how the logic of public management can enrich humanistic management’s practices, the current paper will analyze the managerial practices adopted by public administrations within a situation of emergency, a condition where the specific features of the public management can emerge more clearly. Specifically, it will focus on the ways in which the municipality of Bergamo (one of the hardest-hit cities) have reacted to the Covid-19 pandemic, outlining interesting managerial practices especially from the point of view of (...)
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  • Two styles of neuroeconomics.Don Ross - 2008 - Economics and Philosophy 24 (3):473-483.
    I distinguish between two styles of research that are both called . Neurocellular economics (NE) uses the modelling techniques and mathematics of economics to model relatively encapsulated functional parts of brains. This approach rests upon the fact that brains are, like markets, massively distributed information-processing networks over which executive systems can exert only limited and imperfect governance. Harrison's (2008) deepest criticisms of neuroeconomics do not apply to NE. However, the more famous style of neuroeconomics is behavioural economics in the scanner. (...)
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  • Relational good and the multiplicity problem.Connie S. Rosati - 2009 - Philosophical Issues 19 (1):205-234.
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  • Preference-Formation and Personal Good.Connie S. Rosati - 2006 - Royal Institute of Philosophy Supplement 59:33-64.
    As persons, beings with a capacity for autonomy, we face a certain practical task in living out our lives. At any given period we find ourselves with many desires or preferences, yet we have limited resources, and so we cannot satisfy them all. Our limited resources include insufficient economic means, of course; few of us have either the funds or the material provisions to obtain or pursue all that we might like. More significantly, though, we are limited to a single (...)
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  • Ontic structural realism and economics.Don Ross - 2008 - Philosophy of Science 75 (5):732-743.
    Ontic structural realism (OSR) is crucially motivated by empirical discoveries of fundamental physics. To this extent its potential to furnish a general metaphysics for science may appear limited. However, OSR also provides a good account of the progress that has been achieved over the decades in a formalized special science, economics. Furthermore, this has a basis in the ontology presupposed by economic theory, and is not just an artifact of formalization. †To contact the author, please write to: 4th Floor, Humanities (...)
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  • Business ethics: Where have all the Christians gone? [REVIEW]Gedeon Josua Rossouw - 1994 - Journal of Business Ethics 13 (7):557 - 570.
    The paper starts by giving a historical and philosophical explanation for the current separation between theology and economics. It is then argued that postmodern culture offers the church and theology an opportunity to get reinvolved in the world of business, and especially in Business Ethics. Before opportunities for involvement is discussed, the question on the unique nature of Christians ethics is posed. The notion of Christian ethics as essentially an understanding of reality is proposed and defended against rival interpretations of (...)
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  • Rights to Liberty in Purely Private Matters: Part II.Jonathan Riley - 1990 - Economics and Philosophy 6 (1):27-64.
    A claim that certain purely private matters should be beyond the reach of society's laws, moral rules, and other customs is central to the distinctive liberalism of John Stuart Mill. On Liberty, perhaps the most eloquent defense of individual liberty ever written, laments the hostility allegedly displayed in modern mass societies toward “the right of each individual to act [in private matters] as seems good to his judgement and inclinations”. In Mill's view, a free society must design its institutions with (...)
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  • The Problem of the Second Best: Conceptual Issues: Juha Räikkä.Juha Räikkä - 2000 - Utilitas 12 (2):204-218.
    In this article I shall undertake a preliminary exploration of the notion of second best. I shall follow a three-step strategy. First, I shall introduce some applications of the theorem of the second best in different fields of philosophy and social sciences. Secondly, I shall make several conceptual distinctions related to the theorem. I aim to show that there are certain theoretical results that are similar but not identical to the theorem of the second best, and that the notion of (...)
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  • Corporate social responsibility towards human development: A capabilities framework.Cécile Renouard & Cécile Ezvan - 2018 - Business Ethics: A European Review 27 (2):144-155.
    The starting point of this paper is the need to promote a people-centred corporate social responsibility framework in a context where many human needs and rights remain unsatisfied and where businesses may have both a positive and a negative impact on the quality of life of human beings today and tomorrow and may even lead to irreversible damage. Our normative definition of CSR is consistent with the criteria established by the EU Commission in 2011. We conceive CSR as a responsibility (...)
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  • Economics and ethics.B. J. Reilly & M. J. Kyj - 1990 - Journal of Business Ethics 9 (9):691-698.
    Business theory and management practices are outgrowths of basic economic principles. To evaluate the proper place of ethics in business, the meaning of ethics as defined by economic theory must be assessed. This paper contends that classical economic thought advocates a nonethical decision-making context and is not functional for a modern complex, interdependent environment.
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  • Smith, Friedman, and Self-Interest in Ethical Society.Harvey S. James & Farhad Rassekh - 2000 - Business Ethics Quarterly 10 (3):659-674.
    We examine the writings of Adam Smith and Milton Friedman regarding their interpretation and use of the concept of self-interest.We argue that neither Smith nor Friedman considers self-interest to be synonymous with selfishness and thus devoid of ethicalconsiderations. Rather, for both writers self-interest embodies an other-regarding aspect that requires individuals to moderate theiractions when others are adversely affected. The overriding virtue for Smith in governing individual actions is justice; for Friedman it isnon-coercion.
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  • No Title available: Reviews.Steven Rappaport - 1990 - Economics and Philosophy 6 (2):332-339.
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  • The effect of published reports of unethical conduct on stock prices.Spuma M. Rao & J. Brooke Hamilton - 1996 - Journal of Business Ethics 15 (12):1321 - 1330.
    This study adds to the empirical evidence supporting a significant connection between ethics and profitability by examining the connection between published reports of unethical behaviour by publicly traded U.S. and multinational firms and the performance of their stock. Using reports of unethical behaviour published in the Wall Street Journal from 1989 to 1993, the analysis shows that the actual stock performance for those companies was lower than the expected market adjusted returns. Unethical conduct by firms which is discovered and publicized (...)
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  • Putting ethics and economic rationality together: an Aristotelian and philosophical approach.Regina Maria da Cruz Queiroz - 2014 - Business Ethics: A European Review 24 (3):332-346.
    The gap between economic rationality, as embedded in utility maximization, and ethical rationality, identified with a set of rules that prescribe the right course of action, has been a challenging issue for economists, philosophers, and business ethicists. Despite the difference and the noncompetition between a scientific economic approach of economics and business ethics, and a behavioral and philosophical one, we highlight the importance of the Aristotelian concept of prudence or phronesis applied to business activity. Phronesis allows for a conceptualization of (...)
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  • Global Labor Justice and the Limits of Economic Analysis in advance.Joshua Preiss - 2014 - Business Ethics Quarterly 24 (1):55-83.
    ABSTRACT:This article considers the economic case for so-called sweatshop wages and working conditions. My goal is not to defend or reject the economic case for sweatshops. Instead, proceeding from a broadly pluralist understanding of value, I make and defend a number of claims concerning the ethical relevance of economic analysis for values that different agents utilize to evaluate sweatshops. My arguments give special attention to a series of recent articles by Benjamin Powell and Matt Zwolinski, which represent the latest and (...)
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  • Global Labor Justice and the Limits of Economic Analysis.Joshua Preiss - 2014 - Business Ethics Quarterly 24 (1):55-83.
    ABSTRACT:This article considers the economic case for so-called sweatshop wages and working conditions. My goal is not to defend or reject the economic case for sweatshops. Instead, proceeding from a broadly pluralist understanding of value, I make and defend a number of claims concerning the ethical relevance of economic analysis for values that different agents utilize to evaluate sweatshops. My arguments give special attention to a series of recent articles by Benjamin Powell and Matt Zwolinski, which represent the latest and (...)
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  • Weaning Business Ethics from Strategic Economism: The Development Ethics Perspective. [REVIEW]Prabhir Vishnu Poruthiyil - 2013 - Journal of Business Ethics 116 (4):735-749.
    For more than three decades, business ethics has suggested and evaluated strategies for multinationals to address abject deprivations and weak regulatory institutions in developing countries. Critical appraisals, internal and external, have observed these concerns being severely constrained by the overwhelming prioritization of economic values, i.e., economism. Recent contributions to business ethics stress a re-imagination of the field wherein economic goals are downgraded and more attention given to redistribution of wealth and well-being of the weaker individuals and groups. Development ethics, a (...)
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  • Ethical Guidance from Literature and Mathematics.Stephen Pollard - 2017 - Journal of Speculative Philosophy 31 (4):517-537.
    That mathematics makes for poor literature is a conclusion as uninteresting as it is inevitable—inevitable because were mathematical prose to score high on a scale of literary value, this result would do more to discredit the scale than glorify the prose. It may, however, help us better understand our cultural landscape if, without attempting a literary appraisal of mathematics or a mathematical appraisal of literature, we search for some community of interest between the formal sciences and the literary arts. This (...)
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  • Shareholder wealth maximization, business ethics and social responsibility.Geoffrey Poitras - 1994 - Journal of Business Ethics 13 (2):125 - 134.
    The primary objective of this article is to develop a framework for analyzing the ethical foundations and implications of shareholder wealth maximization (SWM). Distinctions between SWM and the more widely examined construct of profit maximization are identified, the most significant being the central role played in SWM by the market mechanism for pricing the corporation''s securities. It is argued that empirical tests concerned with evaluating the ethical implications of SWM will almost surely involve a joint hypothesis. A number of recent (...)
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  • O desafio da tartaruga humeana.Elson L. A. Pimentel - 2003 - Kriterion: Journal of Philosophy 44 (108):290-300.
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  • New Directions in Strategic Management and Business Ethics.Robert A. Phillips - 2010 - Business Ethics Quarterly 20 (3):401-425.
    ABSTRACT:This essay attempts to provide a useful research agenda for researchers in both strategic managementandbusiness ethics. We motivate this agenda by suggesting that the two fields started with similar interests, diverged, and are beginning to converge again. We then identify several streams that hold particular promise for developing our understanding of the relationship between strategy and ethics: stakeholder theory, managerial discretion, behavioral strategy, strategy as practice, and environmental sustainability.
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  • On the centrality of human value.Teresa Carla Oliveira & Stuart Holland - 2012 - Journal of Economic Methodology 19 (2):121 - 141.
    The financial crash of 2008 following the selling of fictitious derivatives was a crisis of both rationality and values whose aftermath has thrown the legitimation of deregulated markets, and governments, into question. This paper critiques the Becker metaphor of human capital and submits that human value is central to and the fulcrum of both economic and social values. It illustrates that Hume and Adam Smith directly countered the Hobbesian hypothesis that human nature is based only on self-interest, distinguishes market values (...)
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