Our economic system, the market economy, is a part of a broader system or “society.” We frequently study the operation of the market economy as if it were autonomous, even though there are many complex and mutual relationships between society, the economic system and the other systems – political, cultural, religious, legal, etc. – that form part of society. In a market economy we may identify several components: a frame or background in which the economic activity takes place, a set (...) of ideas and theories, the values shared by this society, the set of institutions, norms and rules that control the economic behavior of people, and the incentives or motivations of the economic agents. The play of these elements defines the operation of a market economy. Is ethics an institution, or does it belong to the set of values and ideas? In this paper I will discuss the role of institutions, norms and rules in society, with special reference to the economic system, in order to gain insight into the relationship between institutions and ethics. I study first the concept and features of social institutions and norms; second, institutional change, and third, the relationship between ethics and institutions. (shrink)

Ethics in business and economics is often attacked for being too superficial. By elaborating the conclusions of two such critics of business ethics and welfare economics respectively, this article will draw the attention to the ethics behind these apparently well-intended, but not always convincing constructions, by help of the fundamental ethics of Emmanuel Levinas. To Levinas, responsibility is more basic than language, and thus also more basic than all social constructions. Co-operation relations in organizations, markets and value networks are generated (...) from personal relations and personal responsibilities. It is not sufficient to integrate ethics in an impersonal, rational system, neither in business organizations nor in the world economy. Ethics has its source not in rationality, but in the personal. (shrink)

Business theory and management practices are outgrowths of basic economic principles. To evaluate the proper place of ethics in business, the meaning of ethics as defined by economic theory must be assessed. This paper contends that classical economic thought advocates a nonethical decision-making context and is not functional for a modern complex, interdependent environment.

C. C. W. Taylor presents a clear and faithful new translation of one of the most famous and influential texts in the history of Western thought, accompanied by an analytical and critical commentary focusing on philosophical issues. In Books II to IV of the Nicomachean Ethics Aristotle gives his account of virtue of character, which is central to his ethical theory as a whole and a key topic in much modern ethical writing.

Natural Law and Natural Rights is widely recognised as a seminal contribution to the philosophy of law, and an essential reference point for all students of the subject. This new edition includes a substantial postscript by the author responding to thirty years of comment, criticism, and further work in the field.

The tenuous claims of cost-benefit analysis to guide policy so as to promote welfare turn on measuring welfare by preference satisfaction and taking willingness-to-pay to indicate preferences. Yet it is obvious that people's preferences are not always self-interested and that false beliefs may lead people to prefer what is worse for them even when people are self-interested. So welfare is not preference satisfaction, and hence it appears that cost-benefit analysis and welfare economics in general rely on a mistaken theory of (...) well-being. This essay explores the difficulties, criticizes standard defences of welfare economics, and then offers a new partial defence that maintains that welfare economics is independent of any philosophical theory of well-being. Welfare economics requires nothing more than anevidentialconnection between preference and welfare: in circumstances in which people are concerned with their own interests and reasonably good judges of what will serve their interests, their preferences will be reliable indicators of what is good for them. (shrink)

This new edition includes a substantial postscript by the author, in which he responds to thirty years of discussion, criticism and further work in the field to ...

Taking stock of interdisciplinarity as it nears its century mark, the Oxford Handbook of Interdisciplinarity constitutes a major new reference work on the topic of interdisciplinarity, a concept of growing academic and societal importance.

Few philosophers or theologians exerted as much influence on the shape of medieval thought as Thomas Aquinas. He ranks amongst the most famous of the Western philosophers and was responsible for almost single-handedly bringing the philosophy of Aristotle into harmony with Christianity. He was also one of the first philosophers to argue that philosophy and theology could support each other. The shape of metaphysics, theology, and Aristotelian thought today still bears the imprint of Aquinas' work. In this extensive and deeply (...) researched study, Eleonore Stump examines Aquinas' major works, _Summa Theologiae _and _Summa Contra Gentiles, _and clearly assesses the vast range of Aquinas' thought. Philosophers, theologians, and students of the medieval period alike will find this unrivalled study an indispensable resource in researching and teaching Aquinas. (shrink)

Since its publication almost 150 years ago, The Idea of a University has had an extraordinary influence on the shaping and goals of higher education. The issues that John Henry Newman raised--the place of religion and moral values in the university setting, the competing claims of liberal and professional education, the character of the academic community, the cultural role of literature, the relation of religion and science--have provoked discussion from Newman's time to our own. This edition of The Idea of (...) a University includes the full text of "University Teaching" and four selections from "University Subjects," together with five essays by leading scholars that explore the background and the present day relevance of Newman's themes. In the essays Martha Garland discusses the character and organization of the early nineteenth-century English universities upon which Newman based much of his vision; Frank M. Turner traces the impact of Newman's influence during the vast expansion of higher education since World War II; George Marsden investigates how the decreasing emphasis on religion has affected higher education; Sara Castro Klaren examines the implications of Newman's views on education and literature for current debates between proponents of a curriculum based on western civilization and one based on multiculturalism; and George Landow considers what the advent of electronic communication will mean to university teaching, research, and community. To aid accessibility, the edition also includes an analytical table of contents, a chronology and biographical sketch of Newman's life, questions for discussion, expanded notes, and a glossary of names, all of which will help make this the standard teaching text for Newman's work. (shrink)

Exploring recent controversies over the role of ethics in economics, The Boundaries of Technique encourages scholars and students to discover and debate the ways in which economics is insulated from ethics, and the ways in which it is dependent upon it. Ultimately, by bringing readers to a deeper awareness of the intrinsic involvement of the individual and the responsibility of moral choice, Yuengert makes an invaluable contriubtion to the study and practice of economics.