ABSTRACT:There is considerable overlap between the interests of business ethicists and those of political philosophers. Questions about the moral justifiability of the capitalist system, the basis of property rights, and the problem of inequality in the distribution of income have been of central importance in both fields. However, political philosophers have developed, especially over the past four decades, a set of tools and concepts for addressing these questions that are in many ways quite distinctive. Most business ethicists, on the other (...) hand, consider their field to be primarily a domain of applied ethics, and so adopt methods and conceptual frameworks developed by moral philosophers. In this paper, we discuss some of the salient differences between these two approaches, and suggest some ways in which business ethicists could benefit from taking a more “political philosophy” approach to these questions. Throughout, we underline the importance of seeking greater compatibility among the principles used in normative theorizing about markets, regulations, corporate governance, and business practices. (shrink)

ABSTRACT:I here advance a critical research agenda for the political perspective of corporate social responsibility (Political CSR). I argue that whilst the ‘Political’ CSR literature is notable for both its conceptual novelty and practical importance, its development has been hamstrung by four ambiguities, conflations and/or oversights. More positively, I argue that ‘Political’ CSR should be conceived as one potentialformof globalization, and not as aconsequenceof ‘globalization’; that contemporary Western MNCs should be presumed to engage in CSR for instrumental reasons; that ‘Political’ (...) CSR should be associated with a corresponding ‘political’ model of corporate governance; and that both a ‘Rawlsian’ and ‘Habermasian’ perspective of Political CSR are different from ‘Political’ CSR. In concluding, I use these four critiques to identify a number of areas within which increasingly robust and sophisticated positive and normative theories of Political CSR are required. (shrink)

In the economic literature on the firm, especially in the transaction–cost tradition, a sharp distinction is drawn between so-called “market transactions” and “administered transactions.” This distinction is of enormous importance for business ethics, since market transactions are governed by the competitive logic of the market, whereas administered transactions are subject to the cooperative norms that govern collective action in a bureaucracy. The widespread failure to distinguish between these two types of transactions, and thus to distinguish between adversarial and non-adversarial relations, (...) has led many business ethicists to develop a “uniform” moral code. Yet in market transactions, the checks and balances built into the system of commercial exchange are such as to permit more instrumental forms of behavior. In administered transactions, by contrast, these checks and balances are absent, and thus the institutional context calls for much greater exercise of moral restraint. In this paper, I begin the task of developing an adversarial ethic for business. According to this view, the competitive environment licenses a greater range of “self-interested” behavior, but also imposes its own constraints on the strategies that firms may adopt in the pursuit of their interests. (shrink)

_Management Ethics_ is a highly accessible and concise introduction to issues and key problems in the area of management ethics. Examines the obligations that managers have to their various stakeholders: employees, customers, shareholders, and the community Looks at topics at the cutting edge of business ethics, including the ethics of supply chain management, as well as dealing with the press and non governmental agencies Considers the concepts of sustainability and triple bottom line accounting Includes chapters on stimulating the manager's moral (...) imagination and promoting a unique theory of ethical leadership. (shrink)

In this stimulating work of political philosophy, acclaimed philosopher G. A. Cohen sets out to rescue the egalitarian thesis that in a society in which distributive justice prevails, peopleâes material prospects are roughly equal. Arguing against the Rawlsian version of a just society, Cohen demonstrates that distributive justice does not tolerate deep inequality. In the course of providing a deep and sophisticated critique of Rawlsâes theory of justice, Cohen demonstrates that questions of distributive justice arise not only for the state (...) but also for people in their daily lives. The right rules for the macro scale of public institutions and policies also apply, with suitable adjustments, to the micro level of individual decision-making. Cohen also charges Rawlsâes constructivism with systematically conflating the concept of justice with other concepts. Within the Rawlsian architectonic, justice is not distinguished either from other values or from optimal rules of social regulation. The elimination of those conflations brings justice closer to equality. (shrink)

This article addresses the recent call in business ethics literature for a better understanding of corporations as political actors or entities. It first gives an overview of recent attempts to examine classical issues in business ethics through a political lens. It examines different ways in which theorists with an interest in the normative analysis of business practices and institutions could find it desirable and fruitful to use a political lens. This article presents a distinction among four views of the relations (...) between corporations and politics: corporations as distributive agents, corporations as political communities, corporate practices and policies as citizenship issues, and corporations as active participants in the political process. This article finishes with an examination of three challenges that need to be overcome by the theory of the firm as a political actor. (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)

This article addresses the recent call in business ethics literature for a better understanding of corporations as political actors or entities. It first gives an overview of recent attempts to examine classical issues in business ethics through a political lens. It examines different ways in which theorists with an interest in the normative analysis of business practices and institutions could find it desirable and fruitful to use a political lens. This article presents a distinction among four views of the relations (...) between corporations and politics: corporations as distributive agents, corporations as political communities, corporate practices and policies as citizenship issues, and corporations as active participants in the political process. This article finishes with an examination of three challenges that need to be overcome by the theory of the firm as a political actor. (shrink)

Supererogation and rules -- Problematic responsibility in law and morals -- On being "morally speaking a murderer" -- Justice and personal desert -- The expressive function of punishment -- Action and responsibility -- Causing voluntary actions -- Sua culpa -- Collective responsibility -- Crime, clutchability, and individuated treatment -- What is so special about mental illness?

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

Just Business provides the first comprehensive, reasoned framework for resolving questions of business ethics and corporate governance. Innovative, accessible, and global in scope, its powerful Ethical Decision Model can be used to manage the ethical problems of business as they arise in all their complexity and variety. Just Business combines business realism with philosophical rigor, and demonstrates that it is not necessary to emasculate or to adulterate business for business to be ethical. The book benefits from Elaine Sternberg's extensive experience (...) as an academic philosopher, an international investment banker, and head of successful businesses. She is now Principal of a London-headquartered consultancy firm, and Research Fellow in Philosophy at the University of Leeds. (shrink)

Should the democratic exercise of authority that we take for granted in the realm of government be extended to the managerial sphere? Exploring this question, Christopher McMahon develops a theory of government and management as two components of an integrated system of social authority that is essentially political in nature. He then considers where in this structure democratic decision making is appropriate. McMahon examines the main varieties of authority: the authority of experts, authority grounded in a promise to obey, and (...) authority justified as facilitating mutually beneficial cooperation. He also discusses the phenomenon of managerial authority, the authority that guides nongovernmental organization, and argues that managerial authority is best regarded not as the authority of a principal over an agent, but rather as authority that facilitates mutually beneficial cooperation among employees with different moral aims. Viewed in this way, there is a presumption that managerial authority should be democratically exercised by employees. Originally published in 1994. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905. (shrink)

This article contributes to the critical engagement with luck egalitarianism by advancing two arguments. Firstly, it questions the cogency of the dichotomies – e.g., luck/choice, person/circumstance, agency/structure – and the accompanying moral ideal of pure voluntarism. This makes it difficult for luck egalitarianism to dissect appropriately the inequalities embedded in social relations, such as social networks and involuntary associations, in which voluntariness and contingency as well as agency and structure are intertwined. Secondly, it suggests that the relational approach, which has (...) been developed, inter alia, in the empirical study of inequality, provides a morally and practically adequate perspective on egalitarian justice. The relational approach achieves this by converging upon those in‐between social relations that are irreducible to the macro‐level structure and to micro‐level agency. Moreover, a relationally sensitive perspective on inequality can adeptly respond to the difficulties that luck‐egalitarian theories encounter. (shrink)

My station and its duties : the function of being a manager -- Stockholder management or stakeholder management -- The ethical treatment of employees -- The ethical treatment of customers -- Supply chain management and other issues -- Corporate social responsibility -- Moral imagination, stakeholder theory and systems thinking : one approach to management decision-making -- Leadership.

Many problems of inequality in developing countries resist treatment by formal egalitarian policies. To deal with these problems, we must shift from a distributive to a relational conception of equality, founded on opposition to social hierarchy. Yet the production of many goods requires the coordination of wills by means of commands. In these cases, egalitarians must seek to tame rather than abolish hierarchy. I argue that bureaucracy offers important constraints on command hierarchies that help promote the equality of workers in (...) bureaucratic organizations. Bureaucracy thus constitutes a vital if limited egalitarian tool applicable to developing and developed countries alike. (shrink)

Abstract:In 2003, CEOs of the 365 largest U.S. corporations were paid on average $8 million, 301 times as much as factory workers. This paper asks whether CEOs get paid too much. Appealing to widely recognized moral values, I distinguish three views of justice in wages: the agreement view, the desert view, and the utility view. I argue that, no matter which view is correct, CEOs get paid too much. I conclude by offering two ways CEO pay might be reduced.

This paper reconsiders some themes and arguments from my earlier paper “Fairness, Respect and the Egalitarian Ethos.” That work is often considered to be part of a cluster of papers attacking “luck egalitarianism” on the grounds that insisting on luck egalitarianism's standards of fairness undermines relations of mutual respect among citizens. While this is an accurate reading, the earlier paper did not make its motivations clear, and the current paper attempts to explain the reasons that led me to write the (...) earlier paper, assesses the force of its arguments, and locates it in respect to work of Richard Arneson and Elizabeth Anderson. The paper concludes by bringing out what now appears to be the main message of the earlier paper: that the attempt to implement an “ideal” theory of equality can harm the very people that the theory is designed to help. (shrink)

ABSTRACT:This paper re-examines the import of Rawls’s theory of justice for private sector institutions in the face of the decline of the welfare state. The argument is based on a Rawlsian conception of justice as the establishment of a basic structure of society that guarantees a fair distribution of primary goods. We propose that the decline of the welfare state witnessed in Western countries over the past forty years prompts a reassessment of the boundaries of the basic structure in order (...) to include additional corporate institutions. A discussion centered on the primary good of self-respect, but extensible to power and prerogatives as well as income and wealth, examines how the legislator should intervene in private sector institutions to counterbalance any unfairness that results from the decline of the welfare state. (shrink)

This book presents G. A. Cohen's Gifford Lectures, delivered at the University of Edinburgh in 1996. Focusing on Marxism and Rawlsian liberalism, Cohen draws a connection between these thought systems and the choices that shape a person's life. In the case of Marxism, the relevant life is his own: a communist upbringing in the 1940s in Montreal, which induced a belief in a strongly socialist egalitarian doctrine. The narrative of Cohen's reckoning with that inheritance develops through a series of sophisticated (...) engagements with the central questions of social and political philosophy. In the case of Rawlsian doctrine, Cohen looks to people's lives in general. He argues that egalitarian justice is not only, as Rawlsian liberalism teaches, a matter of rules that define the structure of society, but also a matter of personal attitude and choice. Personal attitude and choice are, moreover, the stuff of which social structure itself is made. Those truths have not informed political philosophy as much as they should, and Cohen's focus on them brings political philosophy closer to moral philosophy, and to the Judeo-Christian ethical tradition, than it has recently been. (shrink)

Individuals in capitalist societies are increasingly exposed to market risks. Luck egalitarian theories, which advocate neutralizing the influence of luck on distribution, fail to cope with this problem, because they focus on the wrong kinds of distributive constraints. Rules of distributive justice can specify (1) acceptable procedures for allocating goods, (2) the range of acceptable variations in distributive outcomes, or (3) which individuals should have which goods, according to individual characteristics such as desert or need. Desert-catering luck egalitarians offer rules (...) of the third type. Their theories fail because considerations of market efficiency, freedom, and dignity undermine the claims of desert to inform standards of justice for society as a whole. Responsibility-catering luck egalitarians offer rules of the first type. Their theories fail because such rules don’t constrain the downside risks of market choices. To solve this problem, we need rules of the second type, which allow market forces, and hence luck, to influence distributive outcomes, but only within an acceptable egalitarian range. The ideal of equality in social relations helps us devise acceptable constraints at the top, bottom, and middle of the income range. (shrink)

Hubris among CEOs is generally considered to be undesirable: researchers in finance and in management have documented its unwelcome effects and the media ascribe many corporate failings to CEO hubris. However, the literature fails to provide a precise definition of CEO hubris and is mostly silent on how to prevent it. We use work on hubris in the fields of mythology, psychology, and ethics to develop a framework defining CEO hubris. Our framework describes a set of beliefs and behaviors, both (...) psycho-pathological and unethical in nature, which characterize the problematic relationship of the hubris-infected CEO towards his or her own self, others and the world at large. We then demonstrate how the development of authentic leadership may contribute to preventing or attenuating hubris by addressing its psycho-pathological nature through the true self and meaningful relationships with others. In addition to its psycho-pathological dimension, CEO hubris also contains an ethical dimension. We therefore propose that the development of the virtue of reverence might contribute to the prevention or attenuation of CEO hubris, because reverence makes the individual aware of his or her place in the world order and membership of the community of humans. (shrink)

Is equality a distributive value or does it rather point to the quality of social relationships? This article criticizes the distributive character of luck egalitarian theories of justice and fleshes out the central characteristics of an alternative, relational approach to equality. It examines a central objection to distributive theories: that such theories cannot account for the significance of how institutions treat people (as opposed to the outcomes they bring about). I discuss two variants of this objection: first, that distributive theories (...) fail to account for the importance of how institutions cause good shortfalls and, second, that they fail to account for the normative attitude of social and political institutions expressed in different ways of treating people. The article argues that the causal variant of the objection has only very limited reach, and endorses the expressive variant: the attitudes expressed by institutions in their treatment of persons, such as contempt or neglect, generate potentially unjust social relationships and hierarchies. This should be the focus of a relational egalitarian approach to social justice. The article proceeds to explain how it is possible that artificial agents such as institutions have attitudes and how these attitudes are not reducible to those of the individuals that sustain them, and argues that distributive theories cannot be so modified as to account for such attitudes. It concludes by indicating several directions for the development of more worked-out conceptions of relational equality on this basis. (shrink)

What kind of equality should we value and why? Current debate centres around whether distributive equality is valuable. However, it is not the only (potentially) morally significant form of equality. David Miller and T. M. Scanlon have emphasised the importance of social equality—a strongly egalitarian notion distinct from distributive equality, and which cannot be reduced to a concern for overall welfare or the welfare of the worst-off. However, as debate tends to focus on distribution, social equality has been neglected and (...) we do not have a clear understanding of what it is and why it might be valuable. This paper aims to address this gap. (shrink)

The eighties and nineties have seen much debate about CEO compensation. Critics of CEO compensation support their contention of excessive and inequitable CEO pay based on a number of factors and premises. This paper examines the validity of these arguments. We show why many of these arguments fail to persuade, in part, because they attempt to determine propriety of CEO pay without having a definitive standard for comparison. Arguments based on comparisons between CEO pay and the pay of other individuals (...) or jobs or between CEO pay and firm performance are shown to be an insufficient mechanism to determine the appropriateness of CEO compensation. (shrink)

I broadly explore the question by examining several common criticisms of CEO pay through both philosophical and empirical lenses. While some criticisms appear to be unfounded, the analysis shows not only that current compensation practices are problematic both from the standpoint of distributive justice and fairness, but also that incentive pay ultimately exacerbates the very agency problem it is purported to solve.

Business ethicists have written much about ethical issues in employment. Except for a handful of articles on the very high pay of chief executive officers and the very low pay of workers in overseas sweatshops, however, little has been written about the ethics of compensation. This is prima facie strange. Workers care about their pay, and they think about it in normative terms. This article's purpose is to consider whether business ethicists' neglect of the normative aspects of compensation is justified. (...) I examine several possible justifications for neglecting compensation and show that they fail. What remains is a case for thinking that it is worthy of normative analysis. (shrink)

Numa sociedade democrática, as regras sociais são impostas a cada um por todos. Como “recebedores” de tais regras, tendemos a pensar que elas deviam ser designadas para engendrar a melhor distribuição possível de bens e males ou qualidade de vida. Enquanto autores das regras, tendemos a pensar que os malefícios por nós impostos através de tais regras têm maior peso moral que os danos que nós meramente deixamos de evitar ou mitigar. Embora as atuais teorias sejam dominadas pela primeira perspectiva, (...) uma concepção adequada da justiça exige um balanceamento de ambas tendências. O tema da equidade na saúde é bem apropriado para mostrar como concepções da justiça puramente dirigidas aos recebedores estão fadadas ao fracasso e como esboçar uma alternativa mais promissora. (shrink)