The Greek philosopher Aristotle, writing over two thousand years before Wall Street, called people who engaged in activities which did not contribute to society "parasites." In his latest work, renowned scholar Robert C. Solomon asserts that though capitalism may require capital, but it does not require, much less should it be defined by the parasites it inevitably attracts. Capitalism has succeeded not with brute strength or because it has made people rich, but because it has produced responsible citizens and--however unevenly--prosperous (...) communities. It cannot tolerate a conception of business that focuses solely on income and vulgarity while ignoring traditional virtues of responsibility, community, and integrity. Many feel that there is too much lip-service and not enough understanding of the importance of cooperation and integrity in corporate life. This book rejects the myths and metaphors of war-like competition that cloud business thinking and develops an "Aristotelean" theory of business. The author's approach emphasizes several core concepts: the corporation as community, the search for excellence, the importance of integrity and sound judgment, as well as a more cooperative and humane vision of business. Solomon stresses the virtues of honesty, trust, fairness, and compassion in the competitive business world, and confronts the problem of "moral mazes" and what he posits as its solution--moral courage. (shrink)

Abstract:Moral imagination is a reasoning process thought to counter the organizational factors that corrupt ethical judgment. We describe the psychology of moral imagination as composed of the four decision processes identified by Rest (1986), i.e., moral sensitivity, moral judgment, moral intention, and moral behavior. We examine each process in depth, distilling extant psychological research and indicating organizational implications. The conclusion offers suggestions for future research.The majority of men are subjective toward themselves and objective toward all others—terribly objective sometimes—but the real (...) task is in fact to be objective toward one’s self and subjective toward all others. (shrink)

To date, economics has failed to develop a useful theory of entrepreneurship because of its inability to break out of the static equilibrium framework and the modeling of success/failure as a 0-1 variable. Entrepreneurship research also has not achieved this task due to its preoccupation with the quest for “the successful entrepreneur” and/or the successful firm. This essay calls for a new vocabulary for entrepreneurship, consisting of (1) a plural notion of the entrepreneurial process as a stream of successes and (...) failures, wherein failure management becomes the key science of entrepreneurship; (2) an effectual notion of bringing together particular entrepreneurs and particular environments through creative action; and (3) a contingent notion of aspirations that places imagination at the center stage of economics. Together, the new vocabulary allows us to ask new questions and develop new approaches that allow entrepreneurship to tackle the central task of imagination in economics, i.e., to create from the society we have to live in, the society we want to live in. (shrink)

This article echoes those voices that demand new approaches and ‹senses’ for management education and business programs. Much of the article is focused on showing that the polemic about the educative model of business schools has moral and epistemological foundations and opens up the debate over the type of knowledge that practitioners need to possess in order to manage organizations, and how this knowledge can be taught in management programs. The article attempts to highlight the moral dimension of management through (...) a reinterpretation of the Aristotelian concept of practical wisdom. I defend the ideas that management is never morally neutral and that Aristotelian practical wisdom allows the recovery of moral considerations in management practice. I analyze the impact and implications that the introduction of practical wisdom in business schools entails for the conception and objectives of management education. This view reconfigures management education in terms of attention to values, virtues and context. Therefore, management programmes should prepare students to critically evaluate what they hear and to make decisions coherent with their values and virtues. In the final section, I reflect on the pedagogical implications of this approach. I point out that an integrated model of ethics and practical wisdom promotes education of cognition and education of affect as well. I provide an example to illustrate my perspective and to support my conclusions. (shrink)

This volume brings together Nussbaum's published papers on the relationship between literature and philosophy, especially moral philosophy.

This volume brings together Nussbaum's published papers on the relationship between literature and philosophy, especially moral philosophy. The papers, many of them previously inaccessible to non-specialist readers, explore such fundamental issues as the relationship between style and content in the exploration of ethical issues; the nature of ethical attention and ethical knowledge and their relationship to written forms and styles; and the role of the emotions in deliberation and self-knowledge. Nussbaum investigates and defends a conception of ethical understanding which involves (...) emotional as well as intellectual activity, and which gives a certain type of priority to the perception of particular people and situations rather than to abstract rules. She argues that this ethical conception cannot be completely and appropriately stated without turning to forms of writing usually considered literary rather than philosophical. It is consequently necessary to broaden our conception of moral philosophy in order to include these forms. Featuring two new essays and revised versions of several previously published essays, this collection attempts to articulate the relationship, within such a broader ethical inquiry, between literary and more abstractly theoretical elements. (shrink)

Mentoring is a natural setting for senior employees to render ethics advice and consultation to junior employees. Two studies examined the question of whether those who mentor are more practically wise than those who do not. Although four different measures of practical wisdom were used, no differences were detected. However, mentors were shown to be more politically skilled than non-mentors.

This paper develops a pragmatist approach to ethical business decision-making. It draws primarily on the work of John Dewey and applies his deliberative approach to ethics to the challenges of business practitioners. In particular the paper proposes the value of Dewey’s concept of dramatic rehearsal in emphasizing the task of “constructing the good” in ethical decision-making. The contribution of the paper is, first, to build on recent foundational work to bring American pragmatism into the mainstream business ethics literature; second, to (...) offer a perspective that is accessible to practitioners and integrates ethics into their daily tasks; and third, to identify a number of related research imperatives – in particular the importance of focusing efforts on gaining a deeper understanding of the deliberative process itself. (shrink)

Distinguishing “business” concerns from “ethical” values is not only an unfruitful and meaningless task, it is also an impossible endeavor. Nevertheless, fruitless attempts to separate facts from values produce detrimental second-order effects, both for theory and practice, and should therefore be abandoned. We highlight examples of exemplary research that integrate economic and moral considerations, and point the way to a business ethics discipline that breaks new ground by putting ideas and narratives about businesstogetherwith ideas and narratives about ethics.

During the past twenty years, there has been an explosion of new interest in entrepreneurs and their activities. Yet only recently has serious research attention been devoted to the ethical problems encountered by entrepreneurs and their organizations. Entrepreneurs face uniquely complex moral problems related to basic fairness, personnel and customer relationships, distribution dilemmas, and other challenges. This essay surveys contemporary research in entrepreneurial ethics, examines the kinds of ethical dilemmas entrepreneurs confront, identifies major research topics and methodological approaches, and discusses (...) possible directions for future research. (shrink)

The purpose of this paper is to enter the conversation about stakeholder theory with the goal of clarifying certain foundational issues. I want to show, along with Boatright, that there is no stakeholder paradox, and that the principle on which such a paradox is built, the Separation Thesis, is nicely self-serving to business and ethics academics. If we give up such a thesis we find there is no stakeholder theory but that stakeholder theory becomes a genre that is quite rich. (...) It becomes one of many ways to blend together the central concepts of business with those of ethics. Rather than take each concept of business singly or the whole of “business” together and hold it to the light of ethical standards, we can use the stakeholder concept to create more fine-grained analyses that combine business and ethics; or more simply, we can tell many more, and more interesting, stories about business. (shrink)

The paper asserts that the post-modern rejection of “modern” theoretical accounts including ethical-theoretical accounts as unacceptable meta-narratives would concur with an Aristotelian critique of contemporary ethical theories. Hence and Aristotelian critique will be similar to a post-modern critique. The paper sketches an account of what post-modernism in philosophy is and shows its similarity to Aristoteleanism in rejecting “modern” approaches in a significant way since an Aristotelian approach uses different criteria for what counts as ethical knowledge. The paper suggests that if (...) one follows the lead of Aristotle outlined in Book One Chapter Three of the Nichomachean Ethics applied ethics can be seen as similar to what Aristotle called “Rhetoric,” for in the Rhetoric Aristotle shows how one should engage in discourse about issues of the just and the good. The final section addresses the problem of how an Aristotelian approach can avoid the relativism of post-modernism. (shrink)

The paper asserts that the post-modern rejection of “modern” theoretical accounts including ethical-theoretical accounts as unacceptable meta-narratives would concur with an Aristotelian critique of contemporary ethical theories. Hence and Aristotelian critique will be similar to a post-modern critique. The paper sketches an account of what post-modernism in philosophy is and shows its similarity to Aristoteleanism in rejecting “modern” approaches in a significant way since an Aristotelian approach uses different criteria for what counts as ethical knowledge. The paper suggests that if (...) one follows the lead of Aristotle outlined in Book One Chapter Three of the Nichomachean Ethics applied ethics can be seen as similar to what Aristotle called “Rhetoric,” for in the Rhetoric Aristotle shows how one should engage in discourse about issues of the just and the good. The final section addresses the problem of how an Aristotelian approach can avoid the relativism of post-modernism. (shrink)

Entrepreneurship is a critical need in society, and an entrepreneur's life can be a life wonderfully lived. However, most of the literature examining entrepreneurship takes an overly narrow financial viewpoint when examining entrepreneurship and entrepreneurial success. Our paper surveys the current entrepreneurial literature on what constitutes successful entrepreneurship. We then engage key conceptual ideas within the Catholic social tradition to analyze what we see as an undeveloped notion of success. We then move to construct a richer notion of success through (...) the framework of virtue. (shrink)

Edwin Hartman argues that ethical principles should not derive from abstract theory, but from the real world of experience in organizations. He explains how ethical principles derive from what workers learn in their communities (firms), and that an ethical firm is one that creates the good life for the workers who contribute to its mission. His approach is based on the Aristotelian tradition of refined common sense, from recent work on collective action problems in organizations, and from social contract theory.

John Dewey (1859-1952) lived from the Civil War to the Cold War, a period of extraordinary social, economic, demographic, political and technological change. During his lifetime the United States changed from a rural to an urban society, from an agricultural to an industrial economy, from a regional to a world power. It emancipated its slaves, but subjected them to white supremacy. It absorbed millions of immigrants from Europe and Asia, but faced wrenching conflicts between capital and labor as they were (...) integrated into the urban industrial economy. It granted women the vote, but resisted their full integration into educational and economic institutions. As the face-to-face communal life of small villages and towns waned, it confronted the need to create new forms of community life capable of sustaining democracy on urban and national scales. Dewey believed that neither traditional moral norms nor traditional philosophical ethics were up to the task of coping with the problems raised by these dramatic transformations. Traditional morality was adapted to conditions that no longer existed. Hidebound and unreflective, it was incapable of changing so as to effectively address the problems raised by new circumstances. Traditional philosophical ethics sought to discover and justify fixed moral goals and principles by dogmatic methods. Its preoccupation with reducing the diverse sources of moral insight to a single fixed principle subordinated practical service to ordinary people to the futile search for certainty, stability, and simplicity. In practice, both traditional morality and philosophical ethics served the interests of elites at the expense of most people. To address the problems raised by social change, moral practice needed to be thoroughly reconstructed, so that it contained within itself the disposition to respond intelligently to new circumstances. Dewey saw his reconstruction of philosophical ethics as a means to effect this practical reconstruction. (shrink)

To date, economics has failed to develop a useful theory of entrepreneurship because of its inability to break out of the static equilibrium framework and the modeling of success/failure as a 0-1 variable. Entrepreneurship research also has not achieved this task due to its preoccupation with the quest for “the successful entrepreneur” and/or the successful firm. This essay calls for a new vocabulary for entrepreneurship, consisting of (1) a plural notion of the entrepreneurial process as a stream of successes and (...) failures, wherein failure management becomes the key science of entrepreneurship; (2) an effectual notion of bringing together particular entrepreneurs and particular environments through creative action; and (3) a contingent notion of aspirations that places imagination at the center stage of economics. Together, the new vocabulary allows us to ask new questions and develop new approaches that allow entrepreneurship to tackle the central task of imagination in economics, i.e., to create from the society we have to live in, the society we want to live in. (shrink)