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This article serves as an editorial introduction to this special issue on Pope Benedict’s encyclical-letter, Caritas in Veritate ( 2009 ) and its engagement with the field of business ethics. According to this document , love in truth, which includes justice, is indeed presented as a basic moral foundation for economic and business ethics. The article provides an overview of some major themes in the encyclical and their relationship to the essays in this special issue. The authors in this issue (...) |
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The article starts by arguing that seeing the firm as a mere nexus of contracts or as an abstract entity where different stakeholder interests concur is insufficient for a “humanistic business ethos”, which entails a complete view of the human being. It seems more appropriate to understand the firm as a human community, a concept which can be found in several sources, including managerial literature, business ethics scholars, and Catholic Social Teaching. In addition, there are also philosophical grounds that support (...) |
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How one structures an organization is not only important from the perspective of productivity and efficiency, but primarily how it affects the moral formation of those who are employed in that organization. Organizational structures whether in the manufacturing, service or non-profit sector have moral dimensions that cannot be escaped. Papal social tradition has been concerned about the moral formation of all workers within the organization. This tradition has maintained that an essential component to a humane organizational structure is participation of (...) |
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The empirical findings in Collins and Porras'' study of visionary companies, Built to Last, and the normative claims about the purpose of the business firm in Centesimus Annus are found to be complementary in understanding the purpose of the business firm. A summary of the methodology and findings of Built to Lastand a short overview of Catholic Social Teaching are provided. It is shown that Centesimus Annus'' claim that the purpose of the firm is broader than just profit is consistent (...) |
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I describe an ethic for business administration based on the social tradition of the Catholic Church. I find that much current thinking about business falters for its conceit of truth. Abstractions such as the shareholder-value model contain truth - namely, that business is an economic enterprise to manage for the wealth of its owners. But, as in all abstractions, this truth comes at the expense of falsehood -namely, that persons are assets to deploy on behalf of owners. This last is (...) |
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Students of law and business administration are perplexed by the solidarity and resilience of the modern corporation. This is because knowledge of the defining elements of the corporation—of individual interests and the nexus of contracts—cannot account for the integrity and vitality of the whole. Beginning with the seminal ideas of Mary Parker Follett about organizations, specifically her ideas about functional relating and self-creating coherence, this essay draws upon Catholic Social Theory to explain how the life of the corporation is rooted (...) |
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Today’s globalized economy cannot be governed by legal strictures alone. A combination of self-interest and regulation is not enough to avoid the recurrence of its systemic crises. We also need virtues and a sense of corporate responsibility in order to assure the sustained success of the global economy. Yet whose virtues shall prevail in a pluralistic world? The moral theory of Thomas Aquinas meets the present need for a business ethics that transcends the legal realm by linking the ideas of (...) |
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ABSTRACT:This article proposes a theory of the firm based on the common good. It clarifies the meaning of the term “common good” tracing its historical development. Next, an analogous sense applicable to the firm is derived from its original context in political theory. Put simply, the common good of the firm is the production of goods and services needed for flourishing, in which different members participate through work. This is linked to the political common good through subsidiarity. Lastly, implications and (...) |
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This article presents the ethical concept of service as a way of specifying higher ethical principles in business practice. We set out from the work of a number of scholars who have found some shared ethical principles for doing business in a context of cultural diversity. Love, benevolence, consideration, and other related concepts are considered to be important guiding concepts for business but it is not clear how they are to be operationalized. We argue that the ethical concept of service (...) |
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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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