Rapid advances in AI-based automation have led to a number of existential and economic concerns. In particular, as automating technologies develop enhanced competency they seem to threaten the values associated with meaningful work. In this article, we focus on one such value: the value of achievement. We argue that achievement is a key part of what makes work meaningful and that advances in AI and automation give rise to a number achievement gaps in the workplace. This could limit people’s ability (...) to participate in meaningful forms of work. Achievement gaps are interesting, in part, because they are the inverse of the (negative) responsibility gaps already widely discussed in the literature on AI ethics. Having described and explained the problem of achievement gaps, the article concludes by identifying four possible policy responses to the problem. (shrink)

Efficient markets are alienating if they inhibit us from recognizably caring about one another in our productive activities. I argue that efficient market behaviour is both exclusionary and fetishistic. As exclusionary, the efficient marketeer cannot manifest care alongside their market behaviour. As fetishistic, the efficient marketeer cannot manifest care in their market behaviour. The conjunction entails that efficient market behavior inhibits care. It doesn’t follow that efficient market behavior is vicious: individuals might justifiably commit to efficiency because doing so serves (...) the common good. But efficient market systems nevertheless have significant opportunity costs. The discussion yields a range of desiderata for non-alienated economic organization. (shrink)

I propose a theory aimed at advancing scholarly research in social entrepreneurship. By highlighting the key trade-off between value creation and value capture and explaining when situations of simultaneous market and government failure may arise, I suggest that social entrepreneurship is the pursuit of sustainable solutions to neglected problems with positive externalities. I further discuss the situations in which problems with externalities are likely to be neglected and derive the central goal and logic of action of social entrepreneurs, in contrast (...) to commercial entrepreneurs. Overall, this article provides a conceptual framework that allows understanding the growing phenomena of social entrepreneurship and its role in the functioning of modern society. (shrink)

Abstract It is widely believed that to be a conspiracy theorist is to suffer from a form of irrationality. After considering the merits and defects of a variety of accounts of what it is to be a conspiracy theorist, I draw three conclusions. One, on the best definitions of what it is to be a conspiracy theorist, conspiracy theorists do not deserve their reputation for irrationality. Two, there may be occasions on which we should settle for an inferior definition which (...) entails that conspiracy theorists are after all irrational. Three, if and when we do this, we should recognise that conspiracy theorists so understood are at one end of a spectrum, and the really worrying form of irrationality is at the other end. (shrink)

One-third of all human lives end in early death from poverty-related causes. Most of these premature deaths are avoidable through global institutional reforms that would eradicate extreme poverty. Many are also avoidable through global health-system reform that would make medical knowledge freely available as a global public good. The rules should be redesigned so that the development of any new drug is rewarded in proportion to its impact on the global disease burden (not through monopoly rents). This reform would bring (...) drug prices down worldwide close to their marginal cost of production and would powerfully stimulate pharmaceutical research into currently neglected diseases concentrated among the poor. Its feasibility shows that the existing medical-patent regime (trade-related aspects of intellectual property rights—TRIPS—as supplemented by bilateral agreements) is severely unjust—and its imposition a human-rights violation on account of the avoidable mortality and morbidity it foreseeably produces. (shrink)

Miranda Fricker’s book Epistemic Injustice calls attention to an important sort of moral and intellectual wrongdoing, that of failing to give others their intellectual due. When we fail to recognize others’ knowledge, or undervalue their beliefs and judgments, we fail in two important respects. First, we miss out on the opportunity to improve and refine our own sets of beliefs and judgments. Second—and more relevant to the term “injustice”—we can deny people the intellectual respect they deserve. Along with describing the (...) wrong of epistemic injustice, Fricker proposes that epistemic justice is a virtue we “can, and should, aim for in practice”. But I argue that there are two major problems. First, it is not clear that it is reasonable to imagine there is any such stable disposition—that is, any such virtue—as the sort of justice she imagines. Second, even if there could be such a virtue, her theory of epistemic justice does not provide good guidance for avoiding epistemic injustice. While it could.. (shrink)

Several stages can be identified in Darwin's effort to formulate natural selection. The first stage corresponded, roughly speaking, to the period up to 1844. It was characterized by Darwin's attempt to base his model of geographic speciation on an individualistic dynamics, with species understood as reproductively isolated populations. Toward the end of this period, Darwin's ignorance of the laws of variations and heredity led him to adopt varieties and species as the units of variations. This had the extremely important effect (...) of stimulating him to consider the process of speciation as involving populations. At the end of this period, Darwin also began to regard adaptation as being exclusively toward places in the economy of nature. Thus he faced the problem of integrating the process of natural selection with the process of speciation. Individual variants were the units that fueled the first process, whereas varieties produced new speices. There was no link between adaptation and speciation, except whatever could be supplied by a quasi-historical, developmental idea of optimizing the amount of life.In the second stage, I contend, Darwin's reading of Milne-Edwards crystallized his previous insights into a coherent whole. Milne-Edwards' comments on the advantage of functional specialization could readily be understood in terms of the advantage accruing to the individual, relative to other members of its species, from occupying a different niche. Milne-Edwards' discussion of the division of labor suggested that organisms which moved into unoccupied niches would enjoy reduced competition, and hence a differential advantage in survival and reproduction; thus they would induce the species to do likewise. Rather than base his explanation on an analogy with the artificial economy, Darwin chose the principle of the optimalization of the amount of life per unit area as the overall explanatory principle. The difficulties connected with integrating different levels of description were therefore circumvented, insofar as the problem of diversity and speciation was concerned. Although natural selection considered individuals as the units of selection, and the units of variations were varieties and species, the dynamics of the process understood in terms of natural selection, competition, division of labor and niches could give a plausible account of how individual advantage could be transferred to the species, and how diversity resulted from this mechanism. The problem of the different levels of descriptions was confined to how the properties of variations in individuals (in particular, the frequency of variations and their transmission) were responsible for the assumed variability characteristic of varieties and species. This problem Darwin never solved.A third stage occurred in 1858 with the amalgamation of the tree-of-life vizualization of the process of speciation. Speciation, geographic distribution, and systematics were all then embedded in a conceptual matrix with vast explanatory powers. (shrink)

Following on from work on stakeholder identification, this paper constructs a typology of stakeholder theories based on the extent to which serving the interests of non-shareholders relative to those of shareholders is accepted as a responsibility of companies. A typology based on the division of stakeholder theories into normative, descriptive, and instrumental is rejected on the grounds that the latter two designations refer to second order theories rather than divisions within stakeholder theory and the first is a designation which, for (...) the purposes of business ethics, applies to all stakeholder theories. The crucial distinction between stockholder and stakeholder theory is argued to be their respective rejection and acceptance of role-specific responsibilities toward non-shareholders that are `ultimate objective fulfilling''. From this starting point, a typology is constructed using a division of stakeholder theories into those which do and do not give priority to the interests of shareholders over those of non-shareholders, do and do not posit perfect duties towards non-shareholders as well as shareholders, do and do not accept accountability to non-shareholders as well as shareholders. (shrink)

This inaugural handbook documents the distinctive research field that utilizes history and philosophy in investigation of theoretical, curricular and pedagogical issues in the teaching of science and mathematics. It is contributed to by 130 researchers from 30 countries; it provides a logically structured, fully referenced guide to the ways in which science and mathematics education is, informed by the history and philosophy of these disciplines, as well as by the philosophy of education more generally. The first handbook to cover the (...) field, it lays down a much-needed marker of progress to date and provides a platform for informed and coherent future analysis and research of the subject. -/- The publication comes at a time of heightened worldwide concern over the standard of science and mathematics education, attended by fierce debate over how best to reform curricula and enliven student engagement in the subjects There is a growing recognition among educators and policy makers that the learning of science must dovetail with learning about science; this handbook is uniquely positioned as a locus for the discussion. -/- The handbook features sections on pedagogical, theoretical, national, and biographical research, setting the literature of each tradition in its historical context. Each chapter engages in an assessment of the strengths and weakness of the research addressed, and suggests potentially fruitful avenues of future research. A key element of the handbook’s broader analytical framework is its identification and examination of unnoticed philosophical assumptions in science and mathematics research. It reminds readers at a crucial juncture that there has been a long and rich tradition of historical and philosophical engagements with science and mathematics teaching, and that lessons can be learnt from these engagements for the resolution of current theoretical, curricular and pedagogical questions that face teachers and administrators. (shrink)

This paper examines the strengths and weaknesses of one of science's most pervasive and flexible metaprinciples;optimalityis used to explain utility maximization in economics, least effort principles in physics, entropy in chemistry, and survival of the fittest in biology. Fermat's principle of least time involves both teleological and causal considerations, two distinct modes of explanation resting on poorly understood psychological primitives. The rationality heuristic in economics provides an example from social science of the potential biases arising from the extreme flexibility of (...) optimality considerations, including selective search for confirming vidence, ex post rationalization, and the confusion of prediction with explanation. Commentators are asked to reflect on the extent to which optimality is an organizing principle of nature, a set of relatively unconnected techniques of science, a normative principle for rational choice and social organization, a metaphysical way of looking at the world, or something else still. (shrink)

This paper questions the taken-for-granted moral portrayal depicted in the extant literature and popular media of the devoted social entrepreneurial hero with a priori good ethical and moral credentials. We confront this somewhat ‘idealistic’ and biased portrayal with insights from unique large-scale data from the Global Entrepreneurship Monitor 2009 survey on social entrepreneurship covering Belgium and The Netherlands. Binary and multinomial logistic regressions indicate that the intention and dominance of perceived social value creation over economic value creation is indeed what (...) makes social entrepreneurs unique. In contrast to the extant literature, however, our empirical investigation points at a reluctant attitude of social entrepreneurs toward entrepreneurship in terms of confidence in their skills to start and manage a business, their perception of entrepreneurship as a desirable career choice and their involvement in their activities. While the extant literature points at a strong entrepreneurial orientation as a source of ethical issues, the main contribution of this study lies in the reverse observation: ethical issues are also likely to emanate from a frail entrepreneurial profile. We formulate empirically grounded propositions that may serve as a basis for theory-building and testing purposes. (shrink)

This article pursues the question whether and inasmuch theories of corporate responsibility are dependent on conceptions of managerial freedom. I argue that neglect of the idea of freedom in economic theory has led to an inadequate conceptualization of the ethical responsibilities of corporations within management theory. In a critical review of the history of economic ideas, I investigate why and how the idea of freedom was gradually removed from the canon of economics. This reconstruction aims at a deconstruction of certain (...) axioms of neoclassical economics that hamper contemporary efforts in integrating ethics firmly into management education. I intend to show by these deconstructive endeavors that a constructive use of the idea of responsible freedom could correct and complement the current quantitative focus in business theory through qualitative orientations. I argue that with the help of qualitative success criteria, the strategic integration of the tenets of both business ethics and Corporate Social Responsibility into business practice can be advanced by further research. (shrink)

David Hull accounts for the success of science in terms of an invisible hand mechanism, arguing that it is difficult to reconcile scientists' self-interestedness or their desire for recognition with traditional philosophical explanations for the success of science. I argue that we have less reason to invoke an invisible hand mechanism to explain the success of science than Hull implies, and that many of the practices and institutions constitutive of science are intentionally designed by scientists with an eye to realizing (...) the very goals that Hull believes need to be explained by reference to an invisible hand mechanism. Thus, I reduce the scope of Hull's invisible hand explanation and supplement it by appealing to a hidden hand explanation. (shrink)

This study examines how institutional logics interplay in a cross-sector social partnership that manages refugee integration in a rural district in Germany. In an inductive 15-month case study that drew on interviews and observations, we observe the dynamic materialization of institutional logics in day-to-day practices and an increasing contradiction and even rivalry between community- and market-based institutional logics over time. As a result, we delineate a model explaining the interplay of institutional logics along two dimensions: the dominance of one salient (...) logic and whether conflicts arise among logics. Our analysis also addresses the unifying properties of community as an institutional logic, especially in the context of urgency conditions. In addition, we show the influence of exogenous events and their media coverage on the interplay and conflicts of institutional logics. By unfolding the complexity of refugee integration—one of the global grand challenges of the present—we deepen the current understanding of the specific challenges addressed by cross-sector social partnerships. (shrink)

Are demands for equality motivated by envy? Nietzsche, Freud, Hayek, and Nozick all thought so. Call this the Envy Objection. For egalitarians, the Envy Objection is meant to sting. Many egalitarians have tried to evade the Envy Objection.. But should egalitarians be worried about envy? In this paper, I argue that egalitarians should stop worrying and learn to love envy. I argue that the persistent unwillingness to embrace the Envy Objection is rooted in a common misunderstanding of the nature of (...) the charge, what it reveals, and what can be said in response to it. I develop what Bernard Williams might call a vindicatory genealogy of envy, thereby allowing us to see that envy, rather than undermining egalitarian intuitions, can in fact play a distinct justificatory role (when it is fitting), which undermines the Envy Objection. (shrink)

This book chapter is not available in ORA, but you may download, display, print and reproduce this chapter in unaltered form only for your personal, non-commercial use or use within your organization from the ANU E Press website.

A relatively small segment of business, known as social entrepreneurship (SE), is increasingly being acknowledged as an effective source of solutions for a variety of social problems. Because society tends to view "new" solutions as "the" solution, we are concerned that SE will soon be expected to provide answers to our most pressing social ills. In this paper we call into question the ability of SE, by itself, to provide solutions on a scope necessary to address large-scale social issues. SE (...) cannot reasonably be expected to solve social problems on a large scale for a variety of reasons. The first we label the orga nizational legitimacy argument. This argument leads to our second argument, the isomorphism argument. We also advance three other claims, the moral y political and structural arguments. After making our arguments, we explore ways in which SE, in concert with other social institutions, can effectively address social ills. We also present two examples of successful ventures in which SEs partnered with governments and other institutions. (shrink)

Rational choice theory enjoys unprecedented popularity and influence in the behavioral and social sciences, but it generates intractable problems when applied to socially interactive decisions. In individual decisions, instrumental rationality is defined in terms of expected utility maximization. This becomes problematic in interactive decisions, when individuals have only partial control over the outcomes, because expected utility maximization is undefined in the absence of assumptions about how the other participants will behave. Game theory therefore incorporates not only rationality but also common (...) knowledge assumptions, enabling players to anticipate their co-players' strategies. Under these assumptions, disparate anomalies emerge. Instrumental rationality, conventionally interpreted, fails to explain intuitively obvious features of human interaction, yields predictions starkly at variance with experimental findings, and breaks down completely in certain cases. In particular, focal point selection in pure coordination games is inexplicable, though it is easily achieved in practice; the intuitively compelling payoff-dominance principle lacks rational justification; rationality in social dilemmas is self-defeating; a key solution concept for cooperative coalition games is frequently inapplicable; and rational choice in certain sequential games generates contradictions. In experiments, human players behave more cooperatively and receive higher payoffs than strict rationality would permit. Orthodox conceptions of rationality are evidently internally deficient and inadequate for explaining human interaction. Psychological game theory, based on nonstandard assumptions, is required to solve these problems, and some suggestions along these lines have already been put forward. Key Words: backward induction; Centipede game; common knowledge; cooperation; epistemic reasoning; game theory; payoff dominance; pure coordination game; rational choice theory; social dilemma. (shrink)

This paper addresses the fairness of microcredit interest rates. Since microfinance institutions provide credit for the poor at relatively high prices, the fairness of their interest rates has been repeatedly debated. We first apply Rawls' principles of justice to the case of microcredit interest rates and suggest some limitations related to the hypothesis of rationality of the borrowers and the level of inequality. We then suggest another framework based on the analysis of the distribution of the benefits generated by the (...) transaction to assess the fairness of interest rates. We conceptualize this as the distribution of the bargaining range between the borrowers' and the institutions' reservation price and discuss what these reservation prices could be in the context of microfinance. (shrink)

This paper addresses the fairness of microcredit interest rates. Since microfinance institutions provide credit for the poor at relatively high prices, the fairness of their interest rates has been repeatedly debated. We first apply Rawls' principles of justice to the case of microcredit interest rates and suggest some limitations related to the hypothesis of rationality of the borrowers and the level of inequality. We then suggest another framework based on the analysis of the distribution of the benefits generated by the (...) transaction to assess the fairness of interest rates. We conceptualize this as the distribution of the bargaining range between the borrowers' and the institutions' reservation price and discuss what these reservation prices could be in the context of microfinance. (shrink)

To be and to remain ethical requires struggle from organizations. Struggling is necessary due to the pressures and temptations management and employees encounter in and around organizations. As the relevance of struggle for business ethics has not yet been analyzed systematically in the scientific literature, this paper develops a theory of struggle that elaborates on the meaning and dimensions of struggle in organizations, why and when it is needed, and what its antecedents and consequences are. An important conclusion is that (...) the greater the ethics gap and opposing forces, the greater the struggle required. Viewing business ethics as struggle has several implications for theory and practice. (shrink)

Insider trading has received a bad name in recent decades. The popular press makes it sound like an evil practice where those who engage in it are totally devoid of ethical principles. Yet not all insider trading is unethical and some studies have concluded that certain kinds of insider trading are actually beneficial to the greater investment community. Some scholars in philosophy, law and economics have disputed whether insider trading should be punished at all while others assert that it should (...) be illegal in all cases. This paper explores the nature of insider trading and analyzes the issues to determine the positive and negative aspects of insider trading, and how policy should be changed. The best hope would be for studies to be made that isolate the individuals or groups who are fraudulently harmed by insider trading. If any such groups exist, then clearly worded legislation could be passed to prevent any fraud from being committed against these individuals and groups, while allowing non-fraudulent transactions to be completed without fear of prosecution. Until it can be clearly determined that someone is fraudulently harmed by insider trading, there should be no law or regulation restricting the practice, since such restrictions violate individual rights and will likely have a negative market reaction. (shrink)

This paper presents a theoretical elaboration of the ethical framework of classical capitalism as formulated by Adam Smith in reaction to the dominant mercantilism of his day. It is seen that Smith's project was profoundly ethical and designed to emancipate the consumer from a producer and state dominated economy. Over time, however, the various dysfunctions of a capitalist economy — e.g., concentration of wealth, market power — became manifest and the utilitarian ethical basis of the system eroded. Contemporary capitalism, dominated (...) as it is by large corporations, entrenched political interests and persistent social pathologies, bears little resemblance to the system which Smith envisioned would serve the common man. Most critiques of capitalism are launched from a Marxian-based perspective. We find, however, that by illustrating the wide gap between the reality of contemporary capitalism and the model of amoral political economy developed by Smith, the father of capitalism proves to be the most trenchant critic of the current order. (shrink)

With the demise of Marxism and socialism, the United States is becoming a model not merely for free enterprise, but also for employment practices worldwide. I believe that free enterprise is the least worst economic system, given the alternatives, a position I shall assume, but not defend, here. However, I shall argue, a successful free enterprise political economy does not entail mimicking US employment practices. I find even today in 1998, as I shall outline in more detail, these practices, when (...) consistently carried out, by and large erode trust in the workplace, they are, on balance unfair to workers and managers, and, if Jeffrey Pfeffer is correct, they do not maximize long-term corporate earnings or growth. Getting clear on US employment practices and their weaknesses may help to shape other models for employment that neither contravene free enterprise nor are degrading to workers. (shrink)

Catholic Social Teaching has taken a remarkable turn with the May 1991 document on economic ethics,Centesimus Annus. During their one hundred year history, church documents were notable for their courageous championing of the rights of the least advantaged; they were much less distinguished for their understanding of how markets and incentives function in capitalism. Most business leaders admired church teaching for its compassion but had little respect for its competence. With this most recent document, however, there is a growing conviction (...) that the church may have come of age in economic ethics. Even theWall Street Journal has celebratedCentesimus Annus. The article outlines the highlights of the document and its points of continuity with the tradition. Responses from business and the academy are also briefly considered. (shrink)

As cognitive enhancement research advances, important ethical questions regarding individual autonomy and freedom are raised. Advocates of cognitive enhancement frequently adopt a procedural approach to autonomy, arguing that enhancers improve an individual’s reasoning capabilities, which are quintessential to being an autonomous agent. On the other hand, critics adopt a more nuanced approach by considering matters of authenticity and self-identity, which go beyond the mere assessment of one’s reasoning capacities. Both positions, nevertheless, require further philosophical scrutiny. In this paper, we investigate (...) the ethics of cognitive enhancement through the lenses of political and philosophical arguments about autonomy and freedom. In so doing, we contend that a substantive, relational account of individual autonomy offers a more holistic understanding of the ethical concerns of cognitive enhancement. (shrink)

ABSTRACT The article aims at contributing to the unification of history and psychology by studying the expressions of anger and enthusiasm in several historical contexts. These mainly include France and America in the eighteenth century, but also more recent episodes of transitional justice. In addition it aims at drawing the attention of psychologist to the understudied emotion of enthusiasm. To this end, it also considers how Hume and Kant treated this emotion.

In this paper we reconsider Adam Smith’s ethics, what he means by self-interest and the role this plays in the famous “invisible hand.” Our efforts focus in part on the misreading of “the invisible hand” by certain economists with a view to legitimizing their neoclassical economic paradigm. Through exegesis and by reference to notions that are developed in Smith’s two major works, we deconstruct Smith’s ideas of conscience, justice, self-interest, and the invisible hand. We amplify Smith’s insistence, through his notions (...) of the virtues, that as human beings, and by analogy, organizations, we are intrinsically social, rather than selfish and or egoistically self-centered. Thus, we have responsibilities to and because of others. We conclude that such a managerialist preoccupation with shareholder value is challenged, if not completely refuted, by taking seriously the social character of Smith’s complex vision of commerce. (shrink)

This paper evaluates the current use of the Principal Agent Model (PAM) in accounting and finance, focusing on the agent'ss use of private information. The agent'ss behavioral norms in the the PAM deviate from commonly held ethical values in society, from models of man in conventional economic theory, and also from behavioral foundations of related business school fields like corporate strategy, business ethics, and human resource management. Still, it would be unwise to reject the PAM solely because of its distasteful (...) ethical assumptions. The model does appear to have predictive power, but its descriptive or normative qualities remain unexplored. The popularity of the PAM, with its extreme model of man, raises fundamental questions about the impact of this model on business school stakeholders and society at large. (shrink)

Changing preferencesis a phenomenonoften invoked but rarely properlyaccounted for. Throughout the history of the social sciences, researchers have come against the possibility that their subjects’ preferenceswere affected by the phenomenato be explainedor by otherfactorsnot taken into accountin the explanation.Sporadically, attempts have been made to systematically investigate these in uences, but none of these seems to have had a lasting impact. Today we are still not much further with respect to preference change than we were at the middle of the last (...) century. This anthology hopes to provide a new impulse for research into this important subject. In particular, we have chosen two routes to amplify this impulse. First, we stress the use of modellingtechniquesfamiliar from economicsand decision theory. Instead of constructing complex, all-encompassing theories of preference change, the authors of this volume start with very simple, formal accounts of some possible and hopefully plausible mechanism of preference change. Eventually, these models may nd their way into larger, empirically adequate theories, but at this stage, we think that the most importantwork lies in building structure.Secondly,we stress the importance of interdisciplinary exchange. Only by drawing together experts from different elds can the complex empirical and theoretical issues in the modelling of preference change be adequately investigated. (shrink)

Sethi and Schepers have identified an important issue for the global economy: Providing some mechanism for requiring assurance that environmental, social, and corporate governance information provided by a business is accurate and objective. Where they have gone wrong is in trying to change the mission of the United Nations Global Compact. From its inception, the UNGC has been clear that its mission is not to provide such assurance. This article first outlines the background for the historic announcement of the UNGC (...) by the then Secretary-General of the UN, Kofi Annan. Then a summary of the major criticisms of the initiative is provided with a focus on the Sethi–Schepers article. Finally, I argue that the mission of the UNGC, to gain consensus in the global community on the shared values and moral norms that will guide the global economy, is being accomplished, although it is a work in progress. (shrink)

I compare the epistemic culture of Wikipedia with the epistemic culture of science, with special attention to the culture of collaborative research in science. The two cultures differ markedly with respect to (1) the knowledge produced, (2) who produces the knowledge, and (3) the processes by which knowledge is produced. Wikipedia has created a community of inquirers that are governed by norms very different from those that govern scientists. Those who contribute to Wikipedia do not ground their claims on their (...) reputations as knowers, for they stand to lose nothing if and when their contributions are found to be misleading or false. And the immediacy of the medium encourages gossip and jokes. Hence, though we have some reason to believe that an invisible hand aids scientists in realizing their epistemic goals, we cannot ground our confidence in what is reported on Wikipedia on the fact that an invisible hand ensures quality. Nor is the information on Wikipedia aptly justified in a manner similar to the way testimony can be justified. (shrink)

The relationship between entrepreneurship and ethics has largely been characterized as antithetical. In this article we develop a conceptual model integrating pragmatism, a philosophical approach that emphasizes experimentation and action characteristic of entrepreneurial leadership, with ethics to suggest that the two are not incompatible and that sustaining entrepreneurial leadership for value creation necessitates ethical action to build legitimacy. Case studies from the United States and India highlight the necessity of infusing pragmatism with ethics for sustainable entrepreneurial leadership.

Hegel’s practical philosophy has important insights for understanding the ethical role of the firm in modern society. From a broadly Hegelian perspective, the firm’s role in society is to facilitate freedom, that is, the concrete realization of rational agency. It does this by providing the institutional structures, norms, practices, and modes of discourse necessary for individuals to link their subjective aims with objectively valid societal aims, embodied in the firm’s purpose. Accordingly, I first present a Hegelian account of the link (...) between action and social structure, before arguing that the firm, when it functions properly, enables individuals to express their capacity for rational agency within concrete social contexts. I then draw upon Paul Adler’s Marxist analysis of the development of organizational structures and processes to support the viability of a broadly Hegelian account of the firm within a contemporary economic context. I conclude by outlining a number of practical implications of this account, before explaining its implications for two prominent theories of business ethics, the MacIntyrean perspective, and the Market Failures Approach. (shrink)

Accounting literature has commonly judged the impact of regulation on auditors’ ethical commitment by studying daily audit practice. We argue that the content of the regulations themselves is an important determinant of such an impact. This paper evaluates the capacity of the content of regulation to promote audit ethics by reference to the European Union’s audit policy. Anchored in the extant conceptual perspectives on ethics, our analysis of relevant policy documents shows that the EU’s approach to audit ethics relates most (...) strongly to the deontological perspectives on ethics and leaves largely unexplored other means of promoting auditors’ ethical stance, such as by stimulating virtue ethics. We find that it is the EU regulators’ restricted view of the conceptual foundations of audit ethics that limits the capacity of their policy to effectively stimulate auditors’ ethical commitment. The paper also discusses the potential implications of our analysis for the design of future audit policy. (shrink)

R S Downie; Professions and Professionalism, Journal of Philosophy of Education, Volume 24, Issue 2, 30 May 2006, Pages 147–159, https://doi.org/10.1111/j.1467-.

Work on analogy has been done from a number of disciplinary perspectives throughout the history of Western thought. This work is a multidisciplinary guide to theorizing about analogy. It contains 1,406 references, primarily to journal articles and monographs, and primarily to English language material. classical through to contemporary sources are included. The work is classified into eight different sections (with a number of subsections). A brief introduction to each section is provided. Keywords and key expressions of importance to research on (...) analogy are discussed in the introductory material. Electronic resources for conducting research on analogy are listed as well. (shrink)

Incentives are typically conceived as a form of trade, and so voluntariness appears to be the only ethical concern. As a consequence, incentives are often considered ethically superior to regulations because they are voluntary rather than coercive. But incentives can also be viewed as one way to get others to do what they otherwise would not; that is, as a form of power. When incentives are viewed in this light, many ethical questions arise in addition to voluntariness: What are the (...) responsibilities of the powerful in using incentives? Can incentives be manipulative or exploitative, even if people are free to refuse them? Like all other forms of power, incentives can be abused. This paper develops criteria for distinguishing their legitimate from their illegitimate uses, viz. legitimacy of purpose, voluntariness, and effect on character. The criteria are then applied to three cases: plea bargaining, recruiting medical research subjects, and motivating children to learn. Thinking of incentives in terms of.. (shrink)

Examining how new forms of currencies diffuse is important to uncover their impact on the organization of communities, and thus motivates our study of community currencies. Community currencies provide a medium of exchange by using alternative banknotes or electronic money, which circulates only within particular communities, allowing members to trade goods, increase social cohesion, and achieve collective goals. In this study, we examine how community currencies help facilitate social commons by serving as a setting for building community relationships and a (...) catalyst for other social activities beyond market relations. We analyze cases of community banks that provide microfinance and issue community currencies in Brazil. We find that microfinance entrepreneurs who involve a greater diversity of stakeholders from public, private, and nonprofit sectors in decision making even prior to startup, while also facilitating the formation of supportive social capital from diverse cross-sector stakeholders, increase opportunities for developing new community currencies. By exploring the implications of entrepreneurial actions that promote inclusive participation of diverse stakeholders for accomplishing collective goals, our findings are relevant for other activities that create a common pool of resources while also developing the vitality of the community, including initiatives that use cryptocurrencies and other emerging forms of currencies for building social commons. (shrink)

Modern management reporting on its company''s performance is influenced by individuals ethical considerations. Stakeholders philosophies have continued to change over the last 75 years affecting reporting systems for companies reporting information internally and externally. These fundamental changes in philosophy have affected how information is conveyed. We are not claiming that only one philosophical viewpoint dominates companies reporting practices, but there does appear to be a changing trend of philosophies building on one another. We use resource dependence theory in relationship to (...) a decision-making model to explain changing stakeholders positions over time. This paper argues that six dominant philosophical theories have influenced the way individuals and organizations report financial and other information. Further, these philosophies then are depicted in a model that helps us to understand what influences companies to present themselves to the outside world. A vignette is used to depict changing philosophical views for several companies management report over 75 years. (shrink)

Michael Walzer is one of the most distinguished political philosophers and social critics of this century. His ideas have had great import and influence in political philosophy and political discussion, yet very few of his ideas have been incorporated explicitly into the business ethics literature. We argue that Walzer’s work provides an important conceptual canvas for business ethics scholars that has not been adequately explored. Scholars in business ethics often borrow from political theory and philosophy to generate new insights and (...) develop new substantive contributions. Many valuable theoretical resources are already used extensively—particularly Aristotle, Kant, Marx and a variety of utilitarian philosophers. Walzer offers another set of resources to bring to the conversation of what business ethics is and how business ethicists add value. This paper provides an opportunity to delve further into Walzer’s writings, particularly themes that are tied to business ethics, and to illustrate how his ideas can be extended to reshape our understanding of the field and develop new perspectives on ethical issues in commerce. (shrink)

Discussions of altruism occur in three importantly different contexts. During the past four decades, evolutionary theory has been concerned with the possibility that forms of behaviour labelled as altruistic could emerge and could be maintained under natural selection. In these discussions, an agent A is said to act altruistically towards a beneficiary B when A's action promotes the expected reproductive success of B at expected reproductive cost to A. This sort of altruism, biological altruism, is quite different from the kind (...) of behaviour important to debates about ethical and social issues. There the focus is on psychological altruism, a notion that is concerned with the intentions of the agent and that need have no connection with the spread of anyone's genes. Psychological altruists are people with other-directed desires, emotions or intentions (this is a rough preliminary characterization, to be refined below). Finally, in certain kinds of social scientific research, the important concept is that of behavioural altruism. From the outside, behavioural altruists look like psychological altruists, although their motives and preferences may be very different. (shrink)

In this article we build on the program of research in well-being marketing by further conceptualizing and refining the conceptual domain of the concept of consumer well-being (CWB). We then argue that well-being marketing is a business philosophy grounded in business ethics. We show how this philosophy is an ethical extension of relationship marketing (stakeholder theory in business ethics) and is superior to transactional marketing (a business philosophy grounded in the principles of consumer sovereignty). Additionally, we argue that well-being marketing (...) is based on duty ethics concepts, specifically the duty of beneficence and non-maleficence. Subsequently, we show how the well-being concept guides marketing decisions for consumer goods firms. (shrink)

The privatization of France Telecom in 1997 led to the implementation of a profit-oriented financialization strategy. An unforgiving work environment was developed, which has unsettled many employees. Between February 2008 and October 2011, 69 employees took their own life. Many left notes blaming management for having privileged the interests of shareholders over those of employees. Through interviews with employees and professional practitioners associated with FT, we reveal that employees strongly resented the company’s use of financialization policies to maximize shareholder value. (...) Pursuit of such policies led to the de-institutionalization of socially prescribed norms that were applied commonly in Continental European workplaces. Feelings of anomie, disgrace, futility and isolation ensued among employees. This case highlights an important effect of a modern corporation’s adoption of financialization policies. It points to the need to improve workplace sensitivities and the ethical dispositions of companies and their managers. (shrink)