This is a book about how social sciences can be improved in ways that its relevance is expanded, the applicability of its knowledge is enlarged and increased, and the commitment to questioning the status quo is strengthened.

ABSTRACT:In this updated and revised version of his 2008 Society for Business Ethics presidential address, Richard Nielsen documents the characteristics and extent of the 2007–2009 economic crisis and analyzes how the ethics issues of the economic crisis are structurally related to a relatively new form of capitalism, high-leverage finance capitalism. Four types of high-leverage finance capitalism are considered: hedge funds; private equity-leveraged buyouts; high-leverage, subprime mortgage banking; and high-leverage banking. The structurally related problems with the four types of high-leverage finance (...) capitalism converged in something of a perfect economic storm. Explanations for the crisis are offered in the context of the type of the high-leverage finance capitalism system that permitted and facilitated the economic crisis. Ethics issues and potential reforms are considered that may be able to mitigate the destructive effects of what Schumpeter referred to as the “creative destructive” effects of evolutionary forms of capitalism while realizing the Aristotelian economic ideal of creating wealth in such a way as to make us better people and the world a better place. (shrink)

This book is a meticulous study of Aristotle's phronesis and its applications to the fields of personal development or character formation and of ethical ...

Can ethical character be stimulated and enabled? Cognitive understanding of organizational ethics issues is important and necessary, but not sufficient. Ethical behavior does not emerge automatically. Effective political method is necessary. While it may be difficult to teach ethical character, nonetheless, skill development with respect to joined ethics understanding and action-learning methods can help us develop the skills and confidence we need to actualize our ethical characters and social concerns. An action-learning approach to organizational ethics can help stimulate and enable (...) ethical character. (shrink)

Organizational ethics and institutional theories are extended by recovering Weberian and Pre-Weberian theorizing that emphasized the joining of ethics and institutional theories. Understanding how ethics and institutional systems influence each other can advance our understanding of the nature and causes of structural organizational ethics issues and help guide potential reforms. We consider the interplay of these elements during the recession of 2008–2009, highlighting how structural ethics problems may have to be addressed at the institutional levels and not solely the individual (...) or organizational levels. (shrink)

Organization ethics praxis is theory and method of appropriate action for addressing ethics issues and developing ethical organizations. The perspective of praxis (theory and method of action) is important and different from the perspectives of theoria (theory of understanding), epistemology (ways of knowing), and ontology (ways of being/existing). Praxis is the least developed area within the field of organization ethics. Differences between theoria and praxis are considered within the context of Kohlberg—Gilligan developmental ethics where part of the controversy may be (...) unnecessary due to Kohlberg’s concentrating on epistemology and theoria, but not praxis; and, Gilligan’s considering aspects of praxis with epistemology and theoria. Differences between epistemology and praxis perspectives are considered in the contexts of two cases: Socratic “double-loop” action-learning conversations the night before the Challenger explosion; and, “triple-loop״ action-learning in a cross-cultural Boston—Indonesia child worker safety, acid-washed jeans case. (shrink)

"The ancient and modern question of what is the nature of man and his activity and what ought to be the directions pursued in this activity is once again being ...

Understanding of organizational ethics phenomena requires complex understanding of organizational practices in their real world contexts. We can try to understand and build theory about these complex real world practices from the points of view of: a traditional deductive, ethics literature-based, literature gap formulation approach; or, an inductive, practitioner-based literature gap formulation approach. This consideration of inductive, practitioner-based versus deductive, literature-based literature gap formulation is related to the discussion concerning “engaged scholarship” and relationships and gaps between theory and practice in (...) organization studies [Van De Ven, 2007, Engaged Scholarship: A Guide for Organizational and Research Knowledge ]. However, there is an important difference with respect to the key issue of ethics literature versus practitioner-based literature gap formulation. This article offers examples of the two different approaches and makes comparisons between them. Implications for practice-based organizational ethics theory building, Ph.D. education, and public intellectual work are considered. (shrink)