Morality, Competition, and the Firm

Morality, Competition, and the Firm
Author: Joseph Heath
Publisher: Oxford University Press
Total Pages: 425
Release: 2014-08-01
Genre: Philosophy
ISBN: 0199990492

In this collection of provocative essays, Joseph Heath provides a compelling new framework for thinking about the moral obligations that private actors in a market economy have toward each other and to society. In a sharp break with traditional approaches to business ethics, Heath argues that the basic principles of corporate social responsibility are already implicit in the institutional norms that structure both marketplace competition and the modern business corporation. In four new and nine previously published essays, Heath articulates the foundations of a "market failures" approach to business ethics. Rather than bringing moral concerns to bear upon economic activity as a set of foreign or externally imposed constraints, this approach seeks to articulate a robust conception of business ethics derived solely from the basic normative justification for capitalism. The result is a unified theory of business ethics, corporate law, economic regulation, and the welfare state, which offers a reconstruction of the central normative preoccupations in each area that is consistent across all four domains. Beyond the core theory, Heath offers new insights on a wide range of topics in economics and philosophy, from agency theory and risk management to social cooperation and the transaction cost theory of the firm.

Morality, Competition, and the Firm

Morality, Competition, and the Firm
Author: Joseph Heath
Publisher: Oxford University Press
Total Pages: 425
Release: 2014
Genre: Business & Economics
ISBN: 0199990484

"The essays by Joseph Heath collected in this volume collectively present a program in business ethics that he calls the "market failures" approach. They develop a theoretical framework that lies between two opposing positions in business ethics -- on one hand the "stakeholder" theory, which identifies moral obligations within an organization by identifying its key groups, and the self-explanatory "shareholder primacy" theory. Heath's "market failures" approach lies between these approaches and argues that firms should be guided by the ideal of a perfectly competitive market, and that ethical behavior in this context consists primarily in refraining from taking advantage of imperfections in existing markets. Heath's approach puts particular emphasis on the market as a competitively structured interaction, with different duties owed to individuals inside and outside the firm, and explains why business managers cannot have fiduciary responsibilities toward every stakeholder group. His theory draws on recent work in adversarial ethics, welfare economics, agency theory, and the theory of the ferm, in order to provide an account of business ethics that can be integrated with recent thinking about corporate law and the normative basis of state regulation of the economy"--

The Moral Background

The Moral Background
Author: Gabriel Abend
Publisher: Princeton University Press
Total Pages: 413
Release: 2016-05-31
Genre: Business & Economics
ISBN: 0691171122

In recent years, many disciplines have become interested in the scientific study of morality. However, a conceptual framework for this work is still lacking. In The Moral Background, Gabriel Abend develops just such a framework and uses it to investigate the history of business ethics in the United States from the 1850s to the 1930s. According to Abend, morality consists of three levels: moral and immoral behavior, or the behavioral level; moral understandings and norms, or the normative level; and the moral background, which includes what moral concepts exist in a society, what moral methods can be used, what reasons can be given, and what objects can be morally evaluated at all. This background underlies the behavioral and normative levels; it supports, facilitates, and enables them. Through this perspective, Abend historically examines the work of numerous business ethicists and organizations—such as Protestant ministers, business associations, and business schools—and identifies two types of moral background. "Standards of Practice" is characterized by its scientific worldview, moral relativism, and emphasis on individuals' actions and decisions. The "Christian Merchant" type is characterized by its Christian worldview, moral objectivism, and conception of a person's life as a unity. The Moral Background offers both an original account of the history of business ethics and a novel framework for understanding and investigating morality in general.

Moral Mazes

Moral Mazes
Author: Robert Jackall
Publisher: Oxford University Press, USA
Total Pages: 310
Release: 2010
Genre: Business & Economics
ISBN: 0199729883

This updated edition of a classic study of ethics in business presents an eye-opening account of how corporate managers think the world works, and how big organizations shape moral consciousness. Robert Jackall takes the reader inside a topsy-turvy world where hard work does not necessarily lead to success, but sharp talk, self-promotion, powerful patrons, and sheer luck might. This edition includes a new foreword linking the themes of Moral Mazes to the financial tsunami that engulfed the world economy in 2008.

The Ethics of Competition

The Ethics of Competition
Author: Christoph Lütge
Publisher: Edward Elgar Publishing
Total Pages: 162
Release: 2019
Genre: Business ethics
ISBN: 1788972996

The concept of competition is frequently regarded with ambivalence. While its champions wholeheartedly endorse it for reasons of efficiency, critics believe competition undermines ethics. They denounce competitive thinking, call for modesty in profit-making, and rail against economisation. However, Christoph Lütge argues convincingly that intensified competition can work in favour of ethical goals, and that many criticisms of competition stem from an inadequate understanding of how modern societies and economies function. The author illustrates his view with examples from ecology, healthcare and education, and concludes with a call for more entrepreneurial spirit.

Words, Objects and Events in Economics

Words, Objects and Events in Economics
Author: Peter Róna
Publisher: Springer Nature
Total Pages: 236
Release: 2020-09-03
Genre: Philosophy
ISBN: 3030526739

This open access book examines from a variety of perspectives the disappearance of moral content and ethical judgment from the models employed in the formulation of modern economic theory, and some of the papers contain important proposals about how moral judgment could be reintroduced in economic theory. The chapters collected in this volume result from the favorable reception of the first volume of the Virtues in Economics series and represent further contributions to the themes set out in that volume: (i) examining the philosophical and methodological fallacies of this turn in modern economic theory that the removal of the moral motivation of economic agents from modern economic theory has entailed; and (ii) proposing a return descriptive economics as the means with which the moral content of economic life could be restored in economic theory. This book is of interest to researchers and students of the methodology of economics, ethics, philosophers concerned with agency and economists who build economic models that rest in the intention of the agent.

Ethics Theory and Business Practice

Ethics Theory and Business Practice
Author: Mick Fryer
Publisher: SAGE
Total Pages: 473
Release: 2014-10-27
Genre: Business & Economics
ISBN: 1473909031

In his ground-breaking new textbook, Mick Fryer offers students of Business Ethics clear explanations of a range of theoretical perspectives, along with examples of how these perspectives might be used to illuminate the ethical challenges presented by business practice. The book includes: Realistic scenarios which gently introduce a theory and demonstrate how it can be applied to a real-life ethical dilemma that everyone can relate to, such as borrowing money from a friend Real organisational case studies in each chapter which illustrate how each theory can be applied to real business situations. Cases include Nike, Coca Cola, BMW, Shell, Starbucks and GSK ‘Pause for Reflection’ boxes and ‘Discussion Questions’ which encourage you to challenge the established notions of right and wrong, and empower you to develop your own moral code Video Activities in each chapter with accompanying QR codes which link to documentaries, films, debates and news items to get you thinking about real-life ethical dilemmas Visit the book’s companion website for self-test questions, additional web links and more at: study.sagepub.com/fryer

Codes of Conduct

Codes of Conduct
Author: David M. Messick
Publisher: Russell Sage Foundation
Total Pages: 420
Release: 1996-10-24
Genre: Business & Economics
ISBN: 1610443918

Despite ongoing efforts to maintain ethical standards, highly publicized episodes of corporate misconduct occur with disturbing frequency. Firms produce defective products, release toxic substances into the environment, or permit dangerous conditions to existin their workplaces. The propensity for irresponsible acts is not confined to rogue companies, but crops up in even the most respectable firms. Codes of Conduct is the first comprehensive attempt to understand these problems by applying the principles of modern behavioral science to the study of organizational behavior. Codes of Conduct probes the psychological and social processes through which companies and their managers respond to a wide array of ethical dilemmas, from risk and safety management to the treatment of employees. The contributors employ a wide range of case studies to illustrate the effects of social influence and group persuasion, organizational authority and communication, fragmented responsibility, and the process of rationalization. John Darley investigates how unethical acts are unintentionally assembled within organizations as a result of cascading pressures and social processes. Essays by Roderick Kramer and David Messick and by George Loewenstein focus on irrational decision making among managers. Willem Wagenaar examines how worker safety is endangered by management decisions that focus too narrowly on cost cutting and short time horizons. Essays by Baruch Fischhoff and by Robyn Dawes review the role of the expert in assessing environmental risk. Robert Bies reviews evidence that employees are more willing to provide personal information and to accept affirmative action programs if they are consulted on the intended procedures and goals. Stephanie Goodwin and Susan Fiske discuss how employees can be educated to base office judgments on personal qualities rather than on generalizations of gender, race, and ethnicity. Codes of Conduct makes an important scientific contribution to the understanding of decisionmaking and social processes in business, and offers clear insights into the design of effective policies to improve ethical conduct.

Business Ethics and Diversity in the Modern Workplace

Business Ethics and Diversity in the Modern Workplace
Author: Zgheib, Philippe W.
Publisher: IGI Global
Total Pages: 354
Release: 2014-11-30
Genre: Business & Economics
ISBN: 1466672552

Corporations have a social responsibility to assist in the overall well-being of their communities through the compliance of moral business standards and practices. However, many societies still face serious issues related to unethical business practices. Business Ethics and Diversity in the Modern Workplace investigates the ethical frameworks within modern corporations and their impact on the communities they serve. With a focus on autonomous decision making in complex quandaries, this book is an all-inclusive reference source for students, researchers, practitioners, and managers who are concerned with the various ethical dilemmas within businesses, as well as evaluating moral issues impacting societal welfare.

Integrative Economic Ethics

Integrative Economic Ethics
Author: Peter Ulrich
Publisher: Cambridge University Press
Total Pages: 500
Release: 2010-09-09
Genre: Business & Economics
ISBN: 9780521172424

Integrative Economic Ethics is a highly original work that progresses through a series of rational and philosophical arguments to address foundational issues concerning the relationship between ethics and the market economy. Rather than accepting market competition as a driver of ethical behaviour, the author shows that modern economies need to develop ethical principles that guide market competition, thus moving business ethics into the realms of political theory and civic rationality. This book was in its fourth edition in the original German in 2008, this English translation of Peter Ulrich's development of a fresh integrative approach to economic ethics will be of interest to all scholars and advanced students of business ethics, economics, and social and political philosophy.