This paper attempts to provide a conceptual underpinning for codes of ethics in business and the professions. Rule-utilitarianism is a theory of ethics which I believe can successfully do this. Business persons and professionals, hopefully, will be able to develop codes of ethics in a manner consistent with a well-formulated general ethical theory. This will help enable codes of ethics to be a bridge between general ethical theory and specific ethical decisions made in business and the professions.

The author rejects the main-line policy that business ethics can be taught better by ignoring theoretical foundations and the excuse that several alternative theories are available for appeal if one cares to consult them. He proposes recognizing enlightened self-interest as the theory already practiced by persons and groups, implicitly when not explicitly, and that frank recognition that it is presupposed will encourage more intelligent solutions because this will direct attention to needs for enlightenment of many kinds. Deliberate pursuit of enlightenment (...) — general, specific and particular — should result in greater achievement and, when achieved, in increased reliability of solutions. (shrink)

Commonly accepted dictates of morality clash with the a priori laws of free economic competition. These divergent directives — that stem from the essence of their sources and cannot be changed or negated without altering their sources — contradict each other and so set up conflicts of the most fundamental kind in men's psyches (or souls). In addition, this clash of moralities implies a most serious question respecting real freedom under a system of so-called free-enterprise. For, if in order to (...) thrive, we must perform actions that at the same time violate our own moral self respect, we cannot call ourselves free. (shrink)

This article deals with the idea of human communities in business, government and other economic institutions that are predicated upon compatibility and a mutual desire for the common good. It explores the notion that the greatest single contribution the 20th century might make is to improve the ways men and women live and work together. The achievement of such a worthy goal can increase the overall productivity of an economic system just as much as the most profound technological advances and (...) discoveries.There is a fine metaphysical distinction between the human being as an individual and as a person. This distinction is important in understanding the interaction between the common good of the economic enterprise and a common ethical ground. (shrink)

Two disputes have continually frustrated attempts to provide a tenable method of enquiry for economic science:(a) Should theory construction in economics include a commitment to moral principles? Or should economic theory remain value-free? (b) Does the peculiar subject matter of economics demand a teleological, or a mechanistic pattern of explanation? It is the aim of this paper to shed light on both the preceding controversies by seeking to clarify the relation between them. In particular, it is argued via a case (...) study of the theory of rational choice that over-simplified mechanistic constructions have distorted the normative content and applicability of economic theory. (shrink)