Two essays on utilitarianism, written from opposite points of view, by J. J. C. Smart and Bernard Williams. In the first part of the book Professor Smart advocates a modern and sophisticated version of classical utilitarianism; he tries to formulate a consistent and persuasive elaboration of the doctrine that the rightness and wrongness of actions is determined solely by their consequences, and in particular their consequences for the sum total of human happiness. In Part II Bernard Williams offers a sustained (...) and vigorous critique of utilitarian assumptions, arguments and ideals. He finds inadequate the theory of action implied by utilitarianism, and he argues that utilitarianism fails to engage at a serious level with the real problems of moral and political philosophy, and fails to make sense of notions such as integrity, or even human happiness itself. This book should be of interest to welfare economists, political scientists and decision-theorists. (shrink)

This volume complements two highly successful previously published volumes of Richard Rorty's philosophical papers: Objectivity, Relativism, and Truth, and Essays on Heidegger and Others. The essays in the volume engage with the work of many of today's most innovative thinkers including Robert Brandom, Donald Davidson, Daniel Dennett, Jacques Derrida, Jürgen Habermas, John McDowell, Hilary Putnam, John Searle, and Charles Taylor. The collection also touches on problems in contemporary feminism raised by Annette Baier, Marilyn Frye, and Catherine MacKinnon, and considers issues (...) connected with human rights and cultural differences. Anyone with a serious interest in contemporary philosophy and what it can do for us in the modern world will enjoy this invaluable collection. (shrink)

Recent corporate scandals raise an old question anew: is capitalism fundamentally infected by immorality? A now almost forgotten answer to this question was advanced at the dawn of capitalism, an answer that students of business ethics would find profit in considering. In the early eighteenth century, Bernard Mandeville authored The Fable of the Bees, which became notorious in its day for arguing that capitalism created wealth while necessarily relying on vicious impulses. The fundamental dilemma is that morality requires self-denial while (...) capitalism runs on self-interest. As such, Mandeville claims that business and ethics are essentially separate.While this would appear to align him with skeptics of business ethics, Mandeville does suggest a role for moral theorists in dealing with the challenges of commercial societies. The Mandevillean business ethicist proceeds by separating the public and private spheres. In the former, where government policy toward business is at issue, the Mandevillean ethicist applies a market-friendly utilitarianism. In the latter, where individual conduct is at issue, the Mandevillean gently articulates a market-critical ethic predicated on self-restraint. (shrink)

pt. I. Fundamentals of marketing ethics -- pt. II. Ethics in international marketing practice : cases -- pt. III. Readings in international marketing ethics -- pt. IV. Business ethics resources.

This article examines the ethical issues raised by the pricing of priceless goods. Priceless goods are defined as ones that are widely held to have some special non-market value that makes them unsuited for buying and selling. One subset of priceless goods isprescription drugs—particularly life-saving and life-enhancing ones. Drug makers are under pressure to price their medicines responsibly, which means to restrain their prices (and profits). However, this article argues that it is precisely because life-saving and life-enhancing medicines are priceless (...) that it is especially urgent to leave companies free to charge market prices for them. (shrink)

This paper explores the ethical obligations of pharmaceutical companies to charge fair prices for essential medicines. The moral issue at stake here is distributive justice. Rawls'' framework is especially germane since it underlines the material benefits everyone deserves as Kantian persons and the need for an egalitarian approach for the distribution of society''s essential commodities such as health care. This concern for distributive justice should be a critical factor in the equation of variables used to set prices for pharmaceuticals.

This paper develops a meta-theory of business based on virtue theory which links the concept of virtues, the common good, and the dynamic economy into a unifying and comprehensive theory of business. Traditional theories and models of business have outlived their usefulness as they are unable to adequately explain social reality. Virtue theory shows firms that pursue ethically-driven strategies can realise a greater profit potential than those firms who currently use profit-driven strategies. The theory expounds that the business of business (...) is ethical business and that the crises that business and society face today are crises of leadership and ethics. The issues of leadership and corporate social responsibility are discussed in the context of the proposed theory. (shrink)

Management Ethics: Integrity at Work redefines what it means for a manager to function with integrity in the private and public sectorsùdomestically and globally. It integrates the latest theoretical work in both descriptive and normative ethics, and incorporates legal, communication, quality, and organizational theories into a conceptual framework that improves managerial judgment in the handling of moral complexity at work. The authors use their organizational ethics consulting and academic research experience to provide practical assessment and decision-making tools that convert ethics (...) theories into sound action steps. The book examines three key dimensions of management integrityùjudgment, process, and developmental dimensionsùand applies them to individual chapters devoted to the subprocesses of ethical planning, organizing, leading, and controlling. The authors focus their theories and tools on 28 ethics minicases related to each management function in seven allied management application clusters: accounting, auditing management; finance, investment management; marketing, advertising management; business management, business law, human resource management; technology, quality operations, organizational behavior management; public, nonprofit, health care management; and international, environmental, public policy management. Management Ethics: Integrity at Work builds management integrity by linking and enhancing both ethics and management competence in responsible planning, organizing, leading, and controlling for use by professionals and students in the private and public sectorsùdomestically and globally. (shrink)

Most economists are committed to some version of egoism. After distinguishing among the various sorts of egoistic claims, l cite the empirical literature against psychological egoism and show that attempts to account for this data make these economists' previous empirical claims tautological. Moreover, the assumption of egoism has undesirable consequences, especially for students; if people believe that others behave egoistically, they are more likely to behave egoistically themselves. As an alternative to egoism I recommend the commitment model of Robert Frank. (...) The equivalent of egoism at the organizational level is that business firms seek (should seek) to maximize profits. I present arguments to show that a conscious attempt by managers to maximize profits is likely to fail. A committed altruism is more likely to raise profits. I suggest that a firm should take as its primary purpose providing meaningful work for employees. (shrink)

The constitutions of many nations have been explicitly or implicitly founded upon principles of the social contract derived from Thomas Hobbes. The Hobbesian egoism at the base of the contract fairly accurately represents the structure of market enterprise. A contractarian analysis may, then, allow for justified or rationally acceptable universal standards to which businesses should conform. This paper proposes general rational restrictions upon multi-national enterprises, and includes a critique of unjustified restrictions recently proposed by the Organization for Economic Cooperation and (...) Development (OECD). I propose restrictions that may be tighter than the OECD and international law currently demand, because reason requires that the activities of enterprises accord with standards of environmental and governmental sustainability in addition to consortium, national law and international law agreements. I argue that it is justifiable that indictments may be presented by a citizen or a government against the local arm of a multinational enterprise in response to violations committed by an arm within a different country. (shrink)

Shareholder value orientation has been introduced as a means to improve the performance of the corporation. The paper investigates the theoretical justification for the claim that increasing shareholder value is the purpose of corporate governance. It demonstrates that shareholder value is the control principle, not the purpose of the firm. The idea that shareholder value is the only goal of the corporation is a mistaken transfer from the financial to the industrial firm. The paper also questions that the merger of (...) manager interests and owner interests introduced by the remuneration of managers by stock options improves the management performance. The self-apportioning of stock options by the management is in danger of becoming a form of insider trading. (shrink)

This paper addresses the role of integrity in global leadership. It reviews the philosophy of ethics and suggests that both contractarianism and pluralism are particularly helpful in understanding ethics from a global leadership perspective. It also reviews the challenges to integrity that come through interactions that are both external and internal to the company. Finally, the paper provides helpful suggestions on how global leaders can define appropriate ethical standards for themselves and their organizations.

This is a uniquely authoritative history of philosophy for the general reader. Written by a team of distinguished scholars, it tells the story of Western philosophy from its ancient beginnings to the present day, emphasizing the intellectual context of its development.

Social Ethics is an animated introduction to moral philosophy and the key ethical issues of today, and will serve as the ideal text for undergraduate courses in applied, practical and social ethics.

Recent corporate scandals raise an old question anew: is capitalism fundamentally infected by immorality? A now almost forgotten answer to this question was advanced at the dawn of capitalism, an answer that students of business ethics would find profit in considering. In the early eighteenth century, Bernard Mandeville authored The Fable of the Bees, which became notorious in its day for arguing that capitalism created wealth while necessarily relying on vicious impulses. The fundamental dilemma is that morality requires self-denial while (...) capitalism runs on self-interest. As such, Mandeville claims that business and ethics are essentially separate.While this would appear to align him with skeptics of business ethics, Mandeville does suggest a role for moral theorists in dealing with the challenges of commercial societies. The Mandevillean business ethicist proceeds by separating the public and private spheres. In the former, where government policy toward business is at issue, the Mandevillean ethicist applies a market-friendly utilitarianism. In the latter, where individual conduct is at issue, the Mandevillean gently articulates a market-critical ethic predicated on self-restraint. (shrink)

Author of "Does Marketing Ethics Really Have Anything to Say? – A Critical Inventory of the Literature," responds to Smith''s comment. Content is mostly of a reply orientation, targeting Smith''s general and specific objections sequentially and in appropriate detail. Because Smith also introduces material not directly derived from the original Gaski article, subject matter here eventually ranges into a corresponding breadth of issues.

The material to follow challenges the conceptual uniqueness and contribution of the content of the field of marketing ethics. Based on a comprehensive inspection of the marketing ethics literature, this "review note" (an uncommon genre of academic manuscript – a briefly-presented review highlighting a specific point) concludes that, in terms of pragmatic behavioral guidance as well as conceptual content, marketing ethics has nothing new nor distinctive to offer. Though an initially unexpected conclusion, perhaps, explanation is provided for why marketing ethics' (...) absence of contribution is perfectly natural and appropriate. Evidence also is found to establish that the paper's contrarian-appearing position may not be extremist after all. (shrink)

Any company violating the public trust today puts itself at a disadvantage. Competitors who are more eager to please their clients will gain the upper hand by developing trusting relationships. Readers are exposed to ethical problems, striking examples of unethical conduct, and a variety of moral dilemmas and temptations businesses encounter every day. The aim of this book is to teach from the mistakes of the well-known cases described and to show how to avoid, and how to respond best, should (...) the worse scenario occur. (shrink)

The UN Global Compact is a voluntary initiative designed to help fashion a more humane world by enlisting business to follow ten principles concerning human rights, labor, the environment, and corruption. Although the four-year-old Compact is a relatively successful initiative, having signed up over eleven hundred companies and more than two hundred of the large multinationals, and having begun some important projects on globalization issues, there is a serious problem in that very few of the major U.S. companies have joined. (...) While the premier U.S. companies are interested in meeting the legitimate expectations of society, there is concerncentering around accountability issues. The accountability issues are in four major areas: 1. Accountability showing that the globalization of the economy actually helps the poor. 2. Accountability showing the corporate performance matches rhetoric. 3. Accountability that provides legitimacy to a two-tier pricing system and other measures that are designed to assist the poor in developing countries. 4. Accountability in the human rights area; what societal expectations are multinational companies accountablefor? The article outlines the problems that the Compact brings to the fore and offers some insight from the ethical literature that may address U.S. company concerns or provide new ways of thinking about the issues. It further argues that the forum provided by the Compact may be the most effective means to gain consensus of the role of business in society. (shrink)

This article examines the ethical issues raised by the pricing of priceless goods. Priceless goods are defined as ones that are widely held to have some special non-market value that makes them unsuited for buying and selling. One subset of priceless goods isprescription drugs—particularly life-saving and life-enhancing ones. Drug makers are under pressure to price their medicines responsibly, which means to restrain their prices (and profits). However, this article argues that it is precisely because life-saving and life-enhancing medicines are priceless (...) that it is especially urgent to leave companies free to charge market prices for them. (shrink)

From Plato's Republic and St. Augustine's Confessions through Marx's Capital and Sartre's Being and Nothingness, the extraordinary philosophical dialogue between great Western minds has flourished unabated through the ages. Dazzling in its genius and breadth, the long line of European and American intellectual discourse tells a remarkable story--a quest for truth and wisdom that continues to shape our most basic ideas about human nature and the world around us. That quest is brilliantly brought to life in The Oxford History of (...) Western Philosophy. Featuring hundreds of spectacular illustrations--including sixteen pages of full-color plates--this splendidly written volume takes the reader on a magnificient chronological tour through the revolutions of thought that have forged the Western philosophical tradition from ancient times to the present. Throughout, the six contributors--an internationally renowned team of philosophers including Roger Scruton, Anthony Quinton, and Anthony Kenny--bring the astonishingly diverse, wide-ranging landscape of intellectual history into sharp focus, emphasizing how notions seen today as part of an inevitable march of ideas were in their own time often considered radical, if not revolutionary. Thus we are treated, for example, to lively accounts of how Plato's "theory of forms" and Aristotle's pioneering exercises in logic broke with the past to irrevocably alter the course of Western thought. The authors also reveal the relationships between landmark thinkers, and the ways they drew on their intellectual heritage. They show, for instance, how St. Augustine and Aquinas, though advancing the cause of Christian doctrine, picked up where their pagan Greek forebears had left off. We witness how, during the Renaissance, the profound empiricist ideas underlying Descarte's famous utterance--"I think, therefore I exist"--lived in a tense but complementary relationship with Locke's rationalist theories. Moving into the eighteenth and nineteenth centuries, the book explores how Hume greatly influenced Kant's conception of the "transcendental aesthetic," and how Hegel drew upon the lesser known (but groundbreaking) work of Fichte and Schelling. The authors bring the story up to our own time, vividly recounting the existential trend from Nietzsche ("God is dead") to Sartre, along with other increasingly fractious schools of thought. Along the way, we not only encounter the vast intellectual riches of the Western mind, but we also meet the personalities behind the great thoughts, from the saintly Hume (described by Adam Smith as having "come as near to perfection as anybody could") to the ill-mannered outcast Fichte. And the hundreds of maps and striking illustrations (including full-color reproductions of art ranging from medieval manuscripts to the works of Raphael, Ingres, and Magritte) form an integral part of the book, revealing the interweaving of art and ideas through the ages, as artists have striven to give visual immediacy to philosophical concepts. The Oxford History of Western Philosophy is the most authoritative single-volume account ever written for the general reader. Engagingly written and astonishingly far-reaching, it provides the consummate introduction to the intellectual bedrock upon which Western civilization is built. (shrink)