Presenting with moving insight the relations between man, as a person and as an individual, and the society of which he is a part, Maritain's treatment of a lasting topic speaks to this generation as well as those to come. Maritain employs the personalism rooted in Aquinas's doctrine to distinguish between social philosophy centered in the dignity of the human person and that centered in the primacy of the individual and the private good.

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 (...) justice and virtue in an ingenious way. While allowing for, and incorporating, the specificities of region and religion, industry and culture, Thomas’s virtue theory coordinates private and public activities through a set of context-invariant, justice-oriented norms with conceptual appeal to contemporary questions of global business ethics.In our article, we first sketch how Aquinas’s theory can be also of relevance to a non-confessional audience through its appeal to the ‘natural light of reason.’ Then we explain how his theory of ‘natural law’ aligns his ideas of virtue and justice. From this vantage point, we address the tension between cultural diversity and moral uniformity in the economic sphere in general and in today’s globalized business world in particular. Throughout the article, we aim to show that by interpreting the virtue-dimension of business in light of the idea of social justice, Aquinas’s conception of virtuous business conduct gains inter-personal and inter-cultural validity that establishes social justice as the global virtue of business. (shrink)

After 25 centuries, Aristotle's influence on our society's moral thinking remains profound and he continues to be a very important contributor to contemporary debates in philosophical ethics. This collection showcases some of the best new writing on the Aristotelian notion of virtue of character, which remains central to much of the most interesting work in ethical theory.

ABSTRACT:Partnerships between companies and NGOs have received considerable attention in CSR in the past years. However, the role of NGO legitimacy in such partnerships has thus far been neglected. We argue that NGOs assume a status as special stakeholders of corporations which act on behalf of the common good. This role requires a particular focus on their moral legitimacy. We introduce a conceptual framework for analysing the moral legitimacy of NGOs along three dimensions, building on the theory of deliberative democracy. (...) Against this background we outline three procedural characteristics which are essential for judging the legitimacy of NGOs as potential or actual partners of corporations. (shrink)

This paper discusses the philosophical argument and the application of the Triple Font Theory for moral evaluation of human acts and attempts to integrate the conceptual components of major moral theories into a systematic internally consistent decision-making model that is theoretically driven. The paper incorporates concepts such as formal and material cooperation and the Principle of Double Effect into the theoretical framework. It also advances the thesis that virtue theory ought to be included in any adequate justification of morality and (...) the need to integrate or coordinate notions of virtue into various act-oriented or principles-based ethics. The TFT offers a comprehensive and practical approach to ethical decision-making and is a useful alternative embedded in traditional wisdom. This paper provides a more general framework of the TFT than traditionally presented. Practical judgment is shown to play a constitute role in providing a guide for right action and is the “glue” that integrates the various components of the TFT. (shrink)

An English language translation accompanies the original Greek text of Aristotle's book about the nature of the state, constitutions, revolutions, democracy, and oligarchy.

This chapter offers a concise discussion of classic utilitarianism which is the prototypical moral doctrine of the utilitarian family. It starts with an analysis of the classic utilitarian criterion of rightness, gives an overview over its virtues and vices, and suggests an overall assessment of its adequacy as a theory of morality. Furthermore, it briefly discusses whether classic utilitarianism holds promise as a philosophy for doing business.

This paper argues that business can be helpfully conceived of as a mediating institution. Drawing upon neo-conservative theology, the author argues that mediating institutions serve a vital function in a free society to provide social justice out of an expanded civil society and provide a framework for a flourishing free market. Such institutions also nourish the attitudinal orientation of solidarity in applying the principle of subsidiarity by which self-interest becomes fulfilled through concern for others.The author further argues that businesses also (...) be conceived of as mediating institutions and thereby be held to criteria of meeting associationalneeds. In addition to normative reasons for revising the social contract so that businesses do serve the role of mediating institutions, contemporary management theories demonstrate that businesses can also meet their social obligations of creating wealth while meeting associational needs. (shrink)

Happiness, then, is the best, noblest, and most pleasant thing in the world.'In the Nicomachean Ethics Aristotle's guiding question is: what is the best thing for a human being? His answer is happiness, but he means, not something we feel, but rather a specially good kind of life. Happiness is made up of activities in which we use the best human capacities, both ones that contribute to our flourishing as members of a community, and ones that allow us to engage (...) in god-like contemplation. Contemporary ethical writings on the role and importance of the moral virtues such as courage and justice have drawn inspiration from this work, which also contains important discussions on responsibility for actions, on the nature of practical reasoning, and on friendship and its role in the best life. This new edition retains David Ross's justly admired translation while updating certain key terms. It also includes a valuable introduction to this seminal work, and notes designed to elucidate Aristotle's arguments. (shrink)

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 (...) challenges arising from the positing of work as the common good of the firm are explored. (shrink)

Books V and VI of Aristotle's Politics constitute a manual on practical politics. In the fifth book Aristotle examines the causes of faction and constitutional change and suggests remedies for political instability. In the sixth book he offers practical advice to the statesman who wishes to establish, preserve, or reform a democracy or an oligarchy. He discusses many political issues, theoretical and practical, which are still widely debated today--revolution and reform, democracy and tyranny, freedom and equality. David Keyt presents a (...) clear and accurate new translation of these books, together with a commentary which, though primarily philosophical, also supplies a key to Aristotle's many historical references. It is intended to guide readers towards a proper understanding of this classic text in the history of political thought, and does not assumes knowledge of Greek or of ancient history and politics. (shrink)

This long-awaited book sets out the implications of Habermas's theory of communicative action for moral theory. "Discourse ethics" attempts to reconstruct a moral point of view from which normative claims can be impartially judged. The theory of justice it develops replaces Kant's categorical imperative with a procedure of justification based on reasoned agreement among participants in practical discourse.Habermas connects communicative ethics to the theory of social action via an examination of research in the social psychology of moral and interpersonal development. (...) He aims to show that our basic moral intuitions spring from something deeper and more universal than contingent features of our tradition, namely from normative presuppositions of social interaction that belong to the repertoire of competent agents in any society. Jürgen Habermas is Professor of Philosophy at the University of Frankfurt. (shrink)

Some virtue ethicists are reluctant to consider principles and standards in business ethics. However, this is problematic. This paper argues that realistic Personalism can be integrated into virtue-based business ethics, giving it a more complete base. More specifically, two principles are proposed: the Personalist Principle (PP) and the Common Good Principle (CGP). The PP includes the Golden Rule and makes explicit the duty of respect, benevolence, and care for people, emphasizing human dignity and the innate rights of every human being. (...) The CGP entails cooperation to promote conditions which enhance the opportunity for the human flourishing of all people within a community. Both principles have practical implications for business ethics. (shrink)

Modern society is challenged by a loss of efficiency in national governance systems values, and lifestyles. Corporate social responsibility (CSR) discourse builds upon a conception of organizational legitimacy that does not appropriately reflect these changes. The problems arise from the a-political role of the corporation in the concepts of cognitive and pragmatic legitimacy, which are based on compliance to national law and on relatively homogeneous and stable societal expectations on the one hand and widely accepted rhetoric assuming that all members (...) of society benefit from capitalist production on the other. We therefore propose a fundamental shift to moral legitimacy, from an output and power oriented approach to an input related and discursive concept of legitimacy. This shift creates a new basis of legitimacy and involves organizations in processes of active justification vis-à-vis society rather than simply responding to the demands of powerful groups. We consider this a step towards the politicization of the corporation and attempt to re-embed the debate on corporate legitimacy into its broader context of political theory, while reflecting the recent turn from a liberal to a deliberative concept of democracy. (shrink)

The Eudemian Ethics is a major treatise on moral philosophy whose central concern is what makes life worth living. This is the first time it has been published in its entirety in any modern language. Anthony Kenny's fine translation is accompanied by a lucid introduction and explanatory notes.

The article offers a critical assessment of an article on “Corporate Legitimacy as Deliberation” by Guido Palazzo and Andreas Scherer in this journal. We share the concern about the precarious legitimacy of globally active corporations, infringing on the legitimacy of democracy at large. There is no quarrel with Palazzo/Scherer’s diagnosis, which focuses on the consequences of globalization and ensuing challenges for corporate social responsibilities. However, we disagree with the “solutions” offered by them. In a first step we refute the idea (...) of a legitimacy of morals, maintaining that morality is a premodern mode of creating legitimacy. Even worse, moral is becoming a dangerous commodity under conditions of fundamental global disagreements and antagonisms. We secondly refute the concept of the “politicized corporation”, maintaining that Palazzo/Scherer disregard the consequences of functional differentiation of modern societies and, in particular, disregard the wisdom of political restraint and constitutional guarantees for the autonomy of different spheres of society. Finally, we refute a seemingly romantic notion of deliberation, maintaining that deliberation and deliberative democracy is a worthy idea, which, however, has no place in the real world of globalized contexts. On the other hand, we also find enough common ground and common concern with Palazzo/Scherer to validate a fruitful discourse. (shrink)

The aim of this paper is to explore the ethical dimension of hawala, an ancient informal financial practice rooted in Islamic moral traditions. Widely used in countries with an Islamic background and their diasporas, hawala is considered an important vehicle for the financial and economic development of some less developed countries. Nevertheless, in Western countries, hawala is regarded with suspicion due its controversial ethical nature. Unlike other Islamic financial institutions, the controversial questions are not the legitimacy of profit sources or (...) the interest charged, but rather the lack of transparency that surrounds hawala transactions. Yet, the literature on hawala has neglected its ethical perspective. Our study delves into this dimension with a critical approach, using the Triple Font Theory, grounded on virtue ethics. We conclude that if hawala transactions are carried out with honesty, and fairness, this practice deserves a positive ethical appraisal. However, it is necessary to implement efficient regulatory measures to guarantee that the system is not abused by money launders and criminals. In practice, it becomes imperative to bring over a change in the regulatory approach to hawala toward a more ethically, culturally, and economically sensitive strategy. Thus, future research should focus on how “hyper-norms” or fundamental principles inherent to humanity, which are common to both “formal” and “informal,” “Western” and “non-Western” financial practices, could run the new AML/ctf regulation agenda. (shrink)

The article offers a critical assessment of an article on "Corporate Legitimacy as Deliberation" by Guido Palazzo and Andreas Scherer in this journal. We share the concern about the precarious legitimacy of globally active corporations, infringing on the legitimacy of democracy at large. There is no quarrel with Palazzo/Scherer's diagnosis, which focuses on the consequences of globalization and ensuing challenges for corporate social responsibilities. However, we disagree with the "solutions" offered by them. In a first step we refute the idea (...) of a legitimacy of morals, maintaining that morality is a premodern mode of creating legitimacy. Even worse, moral is becoming a dangerous commodity under conditions of fundamental global disagreements and antagonisms. We secondly refute the concept of the "politicized corporation", maintaining that Palazzo/Scherer disregard the consequences of functional differentiation of modern societies and, in particular, disregard the wisdom of political restraint and constitutional guarantees for the autonomy of different spheres of society. Finally, we refute a seemingly romantic notion of deliberation, maintaining that deliberation and deliberative democracy is a worthy idea, which, however, has no place in the real world of globalized contexts. On the other hand, we also find enough common ground and common concern with Palazzo/Scherer to validate a fruitful discourse. (shrink)