This article assesses some of the implications of globalization for the scholarly debate on business ethics, CSR and related concepts. The argument is based, among other things, on the declining capacity of nation state institutions to regulate socially desirable corporate behavior as well as the growing corporate exposure to heterogeneous social, cultural and political values in societies globally. It is argued that these changes are shifting the corporate role towards a sphere of societal governance hitherto dominated by traditional political actors. (...) This leads to a discussion of the ambivalent results of such a process for a responsible corporate role in a globalized world. While assessing the current reception these changes have received in the management literature, the contributions of the four articles in this Special Issue are framed and evaluated. The argument closes by highlighting avenues of future research on this new challenge. (shrink)

This book continues and revises the ideas of justice as fairness that John Rawls presented in _A Theory of Justice_ but changes its philosophical interpretation in a fundamental way. That previous work assumed what Rawls calls a "well-ordered society," one that is stable and relatively homogenous in its basic moral beliefs and in which there is broad agreement about what constitutes the good life. Yet in modern democratic society a plurality of incompatible and irreconcilable doctrines--religious, philosophical, and moral--coexist within the (...) framework of democratic institutions. Recognizing this as a permanent condition of democracy, Rawls asks how a stable and just society of free and equal citizens can live in concord when divided by reasonable but incompatible doctrines? This edition includes the essay "The Idea of Public Reason Revisited," which outlines Rawls ' plans to revise _Political Liberalism,_ which were cut short by his death. "An extraordinary well-reasoned commentary on _A Theory of Justice_...a decisive turn towards political philosophy." --_Times Literary Supplement_. (shrink)

ABSTRACT:Within corporate social responsibility (CSR), the exploration of the political role of firms (political CSR) has recently experienced a revival. We review three key periods of political CSR literature—classic, instrumental, and new political CSR—and use the Rawlsian conceptualization of division of moral labor within political systems to describe each period’s background political theories. The three main arguments of the paper are as follows. First, classic CSR literature was more pluralistic in terms of background political theories than many later texts. Second, (...) instrumental CSR adopted classical liberalism and libertarian laissez-faire as its structural logic. Third, new political CSR, based on a strong globalist transition of responsibilities and tasks from governments to companies, lacks a conceptualization of division of moral labor that is needed to fully depart from a classical liberalist position. We end by providing a set of recommendations to develop pluralism in political CSR. (shrink)

Though the Revised Edition of A Theory of Justice, published in 1999, is the definitive statement of Rawlsıs view, so much of the extensive literature on ...

This book originated as lectures for a course on political philosophy that Rawls taught regularly at Harvard in the 1980s.

Abstract: In this article, I offer a proposal to clarify what I believe is the proper relation between value maximization and stakeholder theory, which I call enlightened value maximization. Enlightened value maximization utilizes much of the structure of stakeholder theory but accepts maximization of the long-run value of the firm as the criterion for making the requisite tradeoffs among its stakeholders, and specifies long-term value maximization or value seeking as the firm’s objective. This proposal therefore solves the problems that arise (...) from the multiple objectives that accompany traditional stakeholder theory. I also discuss the Balanced Scorecard, which is the managerial equivalent of stakeholder theory, explaining how this theory is flawed because it presents managers with a scorecard that gives no score—that is, no single-valued measure of how they have performed. Thus managers evaluated with such a system (which can easily have two dozen measures and provides no information on the tradeoffs between them) have no way to make principled or purposeful decisions. The solution is to define a true (single dimensional) score for measuring performance for the organization or division (and it must be consistent with the organization’s strategy), and as long as their score is defined properly, (and for lower levels in the organization it will generally not be value) this will enhance their contribution to the firm. (shrink)

Abstract:The purpose of this paper is to suggest that at least one strain of what has come to be called “stakeholder theory” has roots that are deeply libertarian. We begin by explicating both “stakeholder theory” and “libertarian arguments.” We show how there are libertarian arguments for both instrumental and normative stakeholder theory, and we construct a version of capitalism, called “stakeholder capitalism,” that builds on these libertarian ideas. We argue throughout that strong notions of “freedom” and “voluntary action” are the (...) best possible underpinnings for stakeholder theory, and in doing so, seek to return “stakeholder theory” to its managerial and libertarian roots found in Freeman (1984). (shrink)

Though the revised edition of A Theory of Justice, published in 1999, is the definitive statement of Rawls's view, so much of the extensive literature on Rawls's theory refers to the first edition. This reissue makes the first edition once again available for scholars and serious students of Rawls's work.

In this superb introduction, Samuel Freeman introduces and assesses the main topics of Rawls' philosophy. Starting with a brief biography and charting the influences on Rawls' early thinking, he goes on to discuss the heart of Rawls's philosophy: his principles of justice and their practical application to society. Subsequent chapters discuss Rawls's theories of liberty, political and economic justice, democratic institutions, goodness as rationality, moral psychology, political liberalism, and international justice and a concluding chapter considers Rawls' legacy. Clearly setting out (...) the ideas in Rawls' masterwork, _A Theory of Justice_, Samuel Freeman also considers Rawls' other key works, including _Political Liberalism_ and _The Law of Peoples_. An invaluable introduction to this deeply influential philosopher, _Rawls_ is essential reading for anyone coming to his work for the first time. (shrink)

Though the revised edition of A Theory of Justice, published in 1999, is the definitive statement of Rawls's view, so much of the extensive literature on Rawls's theory refers to the first edition.

It is clear that a revival of republicanism is under way, but it is not clear that the republican tradition truly speaks to contemporary concerns. In particular, it is not clear that republicanism has anything of value to say about economic matters in the early 21st century. I respond to this worry by delineating the main features of a neo-republican civic economy that is, I argue, reasonably coherent and attractive. Such an economy will preserve the market, while constraining it to (...) serve public purposes, and promote what John Rawls calls a ‘property-owning democracy’. To accomplish these ends, a civic economy is likely to concern itself with the character of work and the workplace, to take steps to preserve and protect the sense of community or publicity, to levy an inheritance tax and a progressive consumption tax, and to provide some kind of ‘social’ or ‘civic’ minimum of support to all citizens. Key Words: republicanism • equality • self-government • deliberative politics • civic virtue • publicity • markets • property-owning democracy • basic income • inheritance tax • consumption tax. (shrink)

A quick look at what is happening in the corporate world makes it clear that the stakeholder idea is alive, well, and flourishing; and the question now is not “if ” but “how” stakeholder theory will meet the challenges of its success. Does stakeholder theory’s “arrival” mean continued dynamism, refinement, and relevance, or stasis? How will superior stakeholder theory continue to develop? In light of these and related questions, the authors of these essays conducted an ongoing dialogue on the current (...) state and future of stakeholder thinking. Beginning with a review of research and theory that has developed since the major stakeholder theorizing efforts of the 1990s, the authors individually offer their perspectives on the key issues relevant today to stakeholder thinking, and to suggest possible approaches that might lead toward and enable the continuing development of superior stakeholder theory. (shrink)

This chapter contains sections titled: From Liberalism to Republican Liberalism Cohen's Critique of Rawls A Liberal Republican Political Economy Liberal and Republican Approaches to Effective Political Agency The Republican Alternative Conclusion References.

: We discuss the role that transnational corporations should play in developing global governance, creating a framework of rules and regulations for the global economy. The central issue is whether TNCs should provide global rules and guarantee individual citizenship rights, or instead focus on maximizing profits. First, we describe the problems arising from the globalization process that affect the relationship between public rules and private firms. Next we consider the position of economic and management theories in relation to the social (...) responsibility of the firm. We argue that instrumental stakeholder theory and business and society research can only partially solve the global governance issue, and that more recent concepts of corporate citizenship and republican business ethics deliver theoretically and practically helpful, fresh insights. However, even these need further development, especially with regard to the legitimacy of corporate political activity. (shrink)

This chapter contains sections titled: Introduction The Republicanism of Rawls's Liberalism: An Open Question Property‐Owning Democracy Justice and Stability Tocqueville on the Ills of Democratic Personality The Republican Response Some Objections Conclusion: Lessons for Republicans and Liberals References.

The dominant framing of the political corporate social responsibility discussion challenges the traditional economic conception of the firm and aims to produce a paradigm shift in CSR studies wherein the traditional, apolitical view of corporations’ roles in society is replaced by the political conception of CSR. In this paper, we show how the major framing of the political CSR discussion calls for a redirection to take international hard legal and moral regulations, as well as the need for the boundaries between (...) business and politics into account. (shrink)

Abstract:The organization is importantly different from both the nation-state and the individual and hence needs its own ethical models and theories, distinct from political and moral theory. To develop a case for organizational ethics, this paper advances arguments in three directions. First, it highlights the growing role of organizations and their distinctive attributes. Second, it illuminates the incongruities between organizations and moral and political philosophy. Third, it takes these incongruities, as well as organizations’ distinctive attributes, as a starting point for (...) suggesting an agenda for an ethics of organizations. (shrink)