Business Ethics, Misc

This chapter examines whether high prices for gene therapies are justified and whether the problems associated with high prices can be solved by the "pay for performance" (P4P) reimbursement model. To this end, we first describe how prices for new drugs, including gene therapies, are set in Germany (section 2.). P4P is then presented as an example of a reimbursement model (section 3.). The subsequent ethical analysis (section 4.) first examines whether P4P models can sustainably guarantee the right to health (...) and healthcare for all people (section 4.1; cf. on the "sustainable right to health" already Alex, 2021). It is then shown that cost-benefit analyses for setting prices for new gene therapies must be viewed critically from an ethical perspective and pose a problem for equity of access and thus also for the sustainable guarantee of a right to health (section 4.2). The final question is whether P4P is compatible with the idea of human dignity (Article 1 I 1 of the German Basic Law) (section 4.3; cf. already König et al., 2020). -/- Alex, K. (2021): Ethical conceptualization of a sustainable right to health(care). In: Schildmann, J. et al. (eds.): Defining the value of medical interventions. Normative and empirical challenges. Kohlhammer, Stuttgart: 29-48. PMID: 36256802 König, J. et al. (2020): Am individuellen Therapieergebnis orientierte Erstattungsverfahren in der Onkologie: ethische Implikationen am Beispiel der CAR-T-Zelltherapie. In: Ethik Med 32: 85–92. doi: 10.1007/s00481-020-00565-3. (shrink)

Narrative based real world case examples are powerful tools by which to help learners more empathetically engage the complexity of ethical conflicts and interactions, enabling clearer analysis of ecological ethical issues and overcoming apathy toward real-world responses. In this paper, I develop ecological ethical inquiry as a means by which to use narrative-based case studies to help ethicists connect to and empathize with other morally relevant individuals. I argue that ecological issues not only benefit from but also require a narrative (...) approach because of ethical and epistemic complexity. I first describe the problem of apathy toward motivation given the ethical and epistemic complexity in ecological ethics contexts; then, I offer a case study in ecological ethics that draws out this complexity; and finally, I point out several caveats concerning the conclusions I have drawn. (shrink)

In this chapter, I argue that it is impossible to trust the Big Tech companies, in an ethically important sense of trust. The argument is not that these companies are untrustworthy. Rather, I argue that the power to hold the trustee accountable is a necessary component of this sense of trust, and, because these companies are so powerful, they are immune to our attempts, as individuals or nation-states, to hold them to account. It is, therefore, literally impossible to trust Big (...) Tech. After introducing the accounts of trust and power that I deploy, I argue that Big Tech companies have four kinds of power that render them unaccountable: fiscal power, political power, data power, and cognitive power. I conclude by reflecting on recent calls to break up the Big Tech firms, suggesting a new antitrust test in the light of my arguments. (shrink)

The Radical Behavioral Challenge (RBC) contends that due to normal human cognitive biases, many standard prescriptions of business ethics run afoul of the principle that ‘ought implies can.’ Von Kriegstein responds to this challenge by arguing that those prescriptions are wide-scope obligations that can be fulfilled by recusing oneself or by establishing appropriate safeguards. I argue that this solution falls short of fully resolving the RBC because individuals will often be incapable of recognizing when they are biased and incapable of (...) establishing appropriate safeguards. (shrink)

In this chapter I systematically distinguish a variety of ways to relationalize economics, and focus on a certain approach to relationalizing normative economics in the light of communal values salient in the African philosophical tradition. I start by distinguishing four major ways to relationalize empirical economics, viz., in terms of its ontologies, methods, explanations, and predictions, and also three major ways to relationalize normative economics, in regards to means taken towards ends, decision-procedures used to specify ends, and ends themselves. Then, (...) in the rest of the chapter I address what would be involved in relationalizing the ends of economic choices, given certain ideals of communal relationship characteristically prized by sub-Saharan philosophers, particularly southern African adherents to ubuntu. I advance communal answers to the two large questions of what an economy should distribute and how to engage with stakeholders, and suggest that the implications will be found plausible by many open-minded enquirers around the world. Although this chapter is a work of ethical philosophy, it is meant to be of broad interest to scholars in economics. (shrink)

From publisher: This is a pioneering work. Recent disasters such as the tsunami disaster continue to demonstrate Professor Allinson’s thesis that valuing human lives is the core of ethical management. His unique comparison of the ideas of the power of Fate and High Technology, his penetrating analysis of the very concept of an "accident", demonstrate how concepts rule our lives. His wide-ranging investigation of court cases and government documents from the seventeenth through the twentieth centuries, and from places as diverse (...) as the USA, UK and New Zealand provide ample supporting evidence for the universality and the power of explanation of his thesis. Saving Human Lives will have an impact beyond measurement on the field of management ethics. (shrink)

El presente capítulo analiza las empresas como organizaciones que poseen un clima y una atmósfera propias de acuerdo con su funcionamiento, en las cuales se dinamizan actividades y productos desarrollados en el tiempo. En este orden de ideas, el problema de los impactos del sector empresarial al cambio climático, no es de la industria o de las organizaciones empresariales per se sino de los modelos antrópicos, o de las ontologías dualistas de la sociedad occidental, que solo conciben el mundo como (...) una autorreferencia contenida, en la que la posición y el bienestar de otros actores no se tienen en cuenta, y solo se concibe la oportunidad de producción y consumo para un solo actor. De este modo, la propuesta que realizan los autores, toma en cuenta referentes de equilibrio y bienestar basados en las formas de vida y en las ontologías que representan dichos movimientos sociales desde el sur global. Estos modelos se destacan porque la subsistencia se asume como un proceso de relación antes que uno de dominación y acaparamiento de los recursos disponibles, y es desde este sentido que se convierten en alternativas ecológicas con un profundo énfasis en el reconocimiento de la diversidad y las necesidades del otro. (shrink)

Despite the increased attention that has been paid in recent years to the significance of animal interests within moral and political philosophy, there has been virtually no discussion of the significance of animal interests within business ethics. This is rather troubling, since a great deal of the treatment of animals that will seem especially problematic to many people occurs in the context of business, broadly construed. In this chapter, I aim to extend the growing concern that our normative theories should (...) be animal-friendly to business ethics. I consider whether several popular theoretical approaches in business ethics are consistent with taking animal interests to bear on the decisions that business managers are obligated to make. I do not argue for the claim that we should reject any theory in business ethics that cannot count animal interests as providing reasons that are relevant to the moral status of managerial conduct (though I think that this is true). Instead, I proceed on the assumption that many will find this claim plausible, and argue that those who do have reason to doubt that many of the prominent theoretical approaches defended in the business ethics literature are acceptable. My main aim, then, is to show that those who believe that the correct theory in business ethics must be animal-friendly, at least in the limited sense of counting animal interests as relevant to the moral status of managerial conduct in a plausible way, will need to look beyond the main competing theories that occupy present discussions. (shrink)

There are two accounts of the normative foundation of intergenerationel business ethics, agent-variant theories and agent-invariant theories. Each of them faces a specific challenge: agent-variant theories have to deal with the inverse non-identity problem, while agent-invariant theories are vulnerable to the moral crowding-out effect. Both are particularly difficult to deal with within a reductivist approach that conceives of corporations as distinct moral agents whose responsibility cannot be reduced to the responsibility of either individual agents or higher-level institutions. This might be (...) a reason to favour reductivist approaches in intergenerational contexts. (shrink)

All parties involved in researching, developing, manufacturing, and distributing COVID-19 vaccines need guidance on their ethical obligations. We focus on pharmaceutical companies' obligations because their capacities to research, develop, manufacture, and distribute vaccines make them uniquely placed for stemming the pandemic. We argue that an ethical approach to COVID-19 vaccine production and distribution should satisfy four uncontroversial principles: optimising vaccine production, including development, testing, and manufacturing; fair distribution; sustainability; and accountability. All parties' obligations should be coordinated and mutually consistent. For (...) instance, companies should not be obligated to provide host countries with additional booster shots at the expense of fulfilling bilateral contracts with countries in which there are surges. Finally, any satisfactory approach should include mechanisms for assurance that all parties are honouring their obligations. This assurance enables countries, pharmaceutical companies, global organisations, and others to verify compliance with the chosen approach and protect ethically compliant stakeholders from being unfairly exploited by unethical behaviour of others. (shrink)

Human capital is that body of skills, knowledge, or dispositions that enhances the value of individuals’ contributions to economic production. Because human capital is both a byproduct of, and an important ingredient in, cooperative productive activities, it is subject to demands of justice. Here I consider what comparative justice in human capital benefits and burdens amounts to, with a special concern for the place of equality in allocating such burdens and benefits. Identifying these demands is complicated by the fact that (...) human capital is not discretely produced or exploited, making it difficult to envision human capital justice in historical terms. I defend a non-historical alternative that (I contend) both distributive and relational egalitarians can embrace, namely that that an allocation of human capital burdens and benefits is just only if under that distribution, no individual prefers another’s ledger of benefits and burdens to her own. (shrink)

Communication problems not only every year arouse more and more interest among people of different ages, diffrent professions and education, but, above all, are a necessary component of the professional competence of specialists in all areas of their activity. In 1941, Fethullah Gülen, an Islamic scholar and Turkish public figure, said that "thanks to advances in communications and transport, one of the driving forces of globalization, the distances between countries and peoples are rapidly blurring". But during communication, a person commits (...) many mistakes and stupidities. Foolishness is visible in those moments when a person should be silent, and he speaks, or when it is necessary to speak, and he is silent, - Zufar Fatkudinov said. The same thing happens in entrepreneurial communications. Business communications are a set of contacts in the business environment that each firm establishes and reproduces in the process of carrying out entrepreneurial actions, participation in business relations. Business communications are interfirm or intrafirm in nature. Business communications should be distinguished from ordinary communication. They represent ways of organizing the interaction of business entities with their intra-firm and inter-firm environment, during which all parties of the interaction strive to defend their interests in business. The materials of this book can be used in the study of the disciplines "Ethics of business relations", "Business communication", "Psychology of business communication", "Psychology of management" in higher and secondary educational institutions. The textbook is practically oriented: at the end of each chapter there are control questions and tasks, as well as literature for independent study. (shrink)

A Correction to this paper has been published: doi 10.1007/s40926-021-00177-x.

Blur: Alongside other moral dilemmas and corporate social responsibility related issues, conflicts of interest are one of the most common challenges faced in the workplace. This is the first book devoted to examining the ethics behind conflicts of interest in the context of business, focussing on the foundations of moral philosophy which informs our understanding of ethics. -/- Through clear writing and applied examples, the author shows how ethics can be used to identify and manage conflicts of interest in the (...) business world. The book offers original insights on this topic, moving the scholarly debate forward in conflicts of interest. Offering a clear guide to the ethics of conflicts of interest in business, this is essential reading for students at all levels studying business ethics. (shrink)

Over the last few decades, there have been intense debates concerning the effects of markets on the morality of individuals’ behaviour. On the one hand, several authors argue that markets’ ongoing expansion tends to undermine individuals’ intentions for mutual benefit and virtuous character traits and actions. On the other hand, leading economists and philosophers characterize markets as a domain of intentional cooperation for mutual benefit that promotes many of the character traits and actions that traditional virtue ethics accounts classify as (...) virtuous. In this paper, I join this debate and argue for three claims of general interest to philosophers, economists and policy makers. First, market transactions do not reliably promote individuals’ intentions for mutual benefit, and often select against such intentions. Second, the set of so-called market virtues lacks a substantial overlap with the set of character traits that traditional virtue ethics accounts classify as virtuous. And third, many seemingly virtuous actions observed in market contexts are merely actions in accordance with virtue rather than genuine actions from virtue. These three claims do not license opposition to markets, but challenge the main empirical and theoretical presuppositions of leading virtue ethics defences of markets. (shrink)

The thesis that gives the discourse its characteristic liberal twist is that of the possibility not just of arguing on values in principle but of effective communication about values between different social subjects, instead of, for example, mere compromise between opposing interests that are unable to understand each other's reasons or imposition of one interest on another. From this thesis derives the possibility of the proposal of combining "science" and "ethics".

Alan Tomhave and Mark Vopat have argued that organized boycotts against the expressive acts of companies and their leaders are pro tanto morally wrong because they constitute an attempt to silence voices in the marketplace of ideas. I argue that such boycotts are not best viewed as attempts to silence, but rather as a morally permissible form of withdrawal of support of certain expressive acts.

Free Download from Teseo Press Link Book in Spanish Este libro está dirigido a investigadores interesados en la influencia que ejerce la cultura de una empresa sobre el comportamiento ético de sus integrantes y en la conformación de la empresa como un agente moral. El fenómeno de la mentalidad compartida en una organización es estudiado bajo diversas disciplinas, partiendo de una larga experiencia de “entrenamiento ético” llevada a cabo por la autora en empresas multinacionales. Esta investigación presenta a la comunidad (...) académica un método de intervención organizacional orientado a desarrollar una conciencia ética compartida. El método heurístico propuesto busca revelar a los propios integrantes de la organización la trama de significados que ordena sus interacciones. Mediante dibujos y metáforas colectivas explora la construcción de sentido que los grupos sostienen de forma compartida a un nivel pre-racional y que influye en el carácter ético de sus decisiones personales. Este estudio aborda a la empresa como un ente causado por la convergencia de valores y reglas en el que sus integrantes pueden realizar cambios personales y aprendizajes colectivos. (shrink)

This paper tackles the asymmetry of economic interests and geopolitics between developed and developing countries. Currently, the geopolitics presupposes that the majority of novel technologies are devised and designed in developed countries with their subsequent transfer to the developing countries. Moreover, in the context of the global crisis, the issue of de-dollarization is relevant from the political and economic points of view. Our specific focus is on the small oil countries and the issue how to get off the oil needle (...) in the painless way. Furthermore, the paper analyzes the rise of cryptocurrency that is envisaged as the substitute of the U.S. dollar which has been the world most dominating currency for the last several decades. This paper considers the global asymmetry which has the greatest impact on countries with economies dependent on energy exports. In the light of the diminishing returns from the sale of oil, we examine the ways for escaping this asymmetry. The authors consider the geopolitical asymmetry stemming from the dominance of the U.S. dollar, analyze the political situation and offer the pathways for the development of those economies where oil become an obstacle for economic development. The paper examines the ways of solving the above-mentioned problem by other states in detail and conduct the comparative analysis of the above issues in relation to the economy of Azerbaijan. From this case study we conduct a comparative analysis of the developed and developing countries taking into account the economic asymmetry and global economic and financial security. (shrink)

The 21st century imposed many challenges on mankind, among them there is a very important problem of entrepreneurial leadership transformation. Entrepreneurship gradual modification under the pressure of factors of innovation, informatization of the environment and the need for socialization of the relations between businessmen and society has led to the need of new understanding of leadership positions. The purpose of this scientific research is to substantiate the style of entrepreneurial leadership, which will become dominant in the 21st century. Analyzing and (...) systematizing the scientific works of many modern scholars by the methods of theoretical synthesis, analysis and synthesis, we have solved the problems of entrepreneurial leadership transformation. The use of the historical and logical method has revealed the relationship between the entrepreneurial leadership development and entrepreneurial types. The study found that the global business environment requires new leaders, whose key competences will meet the needs of society, educational space, ethical requirements, etc. Studying the similarities and differences of various leadership styles has become the basis for the allocation of a new style – the leadership of conscious influence, the main characteristics of which are given in this research. In order to achieve the goals, set by the leader-entrepreneur, it is proposed to systematize the leadership opportunities on tactical and strategic, the factors of influence on their realization in the future are generalized. By the method of scientific and theoretical prediction the portrait of an entrepreneur in a global perspective has been formed. Prospects for further research in this area are the development of a methodology for evaluating the effectiveness of business leaders' actions and systematization of ways to increase their effectiveness in the future. (shrink)

Modern business conditions require from economic entities to use appropriate methodological tools for assessing their activities. In economics science a fairly significant set of approaches, methods and techniques are now known that positively contribute to solving problems regarding ensure of competitiveness the economic entities. However, active influence of the internal and external environment on their activities, as well as the specificity of economic management the economic entities, requires the use of more effective methodological tools that can identify threats of the (...) external environment and explore the strengths of activity the economic entities. (shrink)

The case "Caprica Energy and Its Choices" concerns a fictionalized energy corporation choosing between three potential drilling sites. According to the published Teaching Note, the case is an exercise in the stakeholder approach to business: it requires balancing profit considerations with potential harm to those who live near those drilling sites. Though unintended, the case raises a further question not addressed in the case or in the Teaching Note: what gives Caprica Energy the right to impose risk on members of (...) the communities surrounding its drilling sites? The first section of the present article argues that, in such cases, manage- ment can only justify imposing risk on the local community by securing those stakeholders' consent. The second section outlines the implications for stakeholder theory and stake- holder management. The third section outlines one con- nection between this material and recent literature on the imposition of risk and moral theory; that section offers an account of what make this particular instance of imposing risk morally problematic, with reference to the directedness of the imposition. (shrink)

This article examines the conditions for responsibilizing corporations. When we responsibilize an agent, we hold him responsible for his choices – although we are aware that he is not yet fully fit to be held responsible – in order to induce in him the relevant characteristics for being fit to be held responsible at a later time. I find that the conditions of responsibilizability are not identical to the conditions for responsibilization we usually and reasonably apply. Typically, we only responsibilize (...) agents who do not only meet the comparably weak conditions of responsibilizability, but who also fulfil additional criteria, as for example having demonstrated first signs of normative reasoning. I argue that corporations do not only meet the minimum threshold of responsibilizability, but also a comparably higher threshold, which allows us to engage in particularly effective forms of responsibilization. Basically, we may permissibly responsibilize the overwhelming majority of corporations in the same way parents responsibilize their growing children. (shrink)

In this article I argue the relevance of natural law for framing and addressing ethical issues raised by the practice of business in a global context. There are historical, as well as systematic reasons for this. On the historical side, it can be argued that the origin of modern economics is linked to a cultural context, still influenced by modern natural law theories. Thus, even if Hume’s moral theory is everything but a natural law theory, either in the traditional or (...) the modern sense, his “laws of nature” (fixation of property, rules for its transference, and promises) represent a systematization of the rules of justice necessary to preserve the space of economic freedom required for development of a commercial society. This systematization is in line with the classical approach to natural law, which nevertheless presents further advantages for developing an ethical approach to economic activity, since it brings with itself a conception of economic agency richer than that of Hume: a conception that is not necessarily linked to pursuit self-interest, but rather is inspired by ethical motives right from the start. Indeed, on the systematic side, the classical natural law is seen as the law of practical reason: a set of principles in charge of inspiring both virtuous action and legal practice, so that we can realize the human good. Assuming the embodied and social nature of human beings, as well as the various cultural realizations of humanity, a natural law approach to ethics is in a position to stimulate a dynamic and bottomup articulation of the personal and common good, concern for progress and sustainable development, universal principles and cultural variations. (shrink)

In a market economy, members of professions—or at least those for whom their profession is a vocation—are vulnerable to a distinctive kind of objectionable exploitation, namely the exploitation of their vocational commitment. That they are vulnerable in this way arises out of central features both of professions and of a market economy. And, for certain professions—the care professions—this exploitation is particularly objectionable, since, for these professions, the exploitation at issue is not only exploitation of the professional’s vocational commitment but also (...) of her even more basic commitment to morality. (shrink)

The paper discusses the role that ethics theory might play in business ethics teaching. It is noted that little attention is devoted to the explanation and application of ethics theory in business ethics textbooks, which suggests that ethics theory is held in low esteem by business ethics educators. This relative disregard has been justified by some critics on the basis of the limited usefulness of ethics theory to business ethics pedagogy. Notwithstanding these criticisms, the paper argues that ethics theory can (...) play an important role in business ethics teaching which conforms to a speculative agenda. A speculative agenda is described, and a contribution that ethics theory can make to it is explained. This constitutes a form of immanent critique, which enables putative statements of business ethicality to be subjected to critique against the cultural values upon which their credibility rests. Ethics theory is offered as a mediating resource to facilitate such critique. Some criteria that the presentation of ethics theory needs to meet if it is to fulfill this speculative agenda are also outlined. (shrink)

In early writings, stakeholder theorists supported giving all stakeholders formal, binding control over the corporation, in particular, over its board of directors. In recent writings, however, they claim that stakeholder theory does not require changing the current structure of corporate governance and further claim to be “agnostic” about the value of doing so. This article’s purpose is to highlight this shift and to argue that it is a mistake. It argues that, for instrumental reasons, stakeholder theorists should support giving all (...) stakeholders control over the corporation, in the form of control over its board. That is, stakeholder theorists should support stakeholder democracy over the status quo. A larger goal of this article is to steer the conversation about stakeholder theory toward questions of governance and control. Stakeholder theorists tend to sidestep these questions, but it is vital that they be addressed. (shrink)

Much has been written recently about both the urgency and efficacy of teaching business ethics. The results of our survey of AACSB member schools confirm prior reports of similar surveys: The teaching of business ethics is indiscriminate, unorganized, and undisciplined in most North American schools of business. If universities are to be taken seriously in their efforts to create more ethical awareness and better moral decision-making skills among their graduates, they must provide a rigorous and well-developed system in which students (...) can "live ethics" instead of merely learn ethics. A system must be devised to allow students to discover and refine their own values rather than simply learning ethical theories from an intellectual point of view. After reviewing the literature on business ethics in undergraduate curricula, we make a series of recommendations to deliver experiential ethical education for business students. The recommendations include student and faculty written codes of ethics, emphasis on ethical theory within the existing required legal environment course, applied ethics in the functional area capstones using alternative learning, a discussion of employee rights and responsibilities during the curriculum capstone course, and a public service requirement for graduation. These recommendations may be implemented without substantive additional cost or programming requirements. (shrink)

This paper compares the ethical decisions and attitudes of business students and practitioners. Recent unpublished data from a national study of over 1600 students are contrasted with information reported previously. Students are found consistently to make less ethical choices than practitioners, and there is some indication that students are making less ethical choices in the 1980s than in the 1960s. In addition, both students and practitioners agree that buyers should beware, view the role of business more narrowly, and find fewer (...) incentives to behave ethically over time. Codes of ethics appear to be less influential than the individual's strong personal value system and one's superiors behaving ethically; support for codes is declining. The paper concludes with observations about the limitations and possibilities for survey research in this area drawing on other studies that used the same instrument utilized for this paper. Some implications for future research are suggested. (shrink)

The leading academic in Spanish Business Ethics offers a brief history of his subject in Spain and reflects on the evolution taking place in the 1990s. Professor Argandoña is Secretary General of IESE in Barcelona, the International Graduate School of Management of the University of Navarra, Av. Pearson 21, 08034 Barcelona, Spain. He is also a member and Honorary Treasurer of the European Business Ethics Network and an Associate Editor of this Review.

Our Associate Editor for Austria describes the unique national features which underlie the recent development of modern business ethics in his country. Univ.‐Prof. Dr Franz Rupert Hrubi is a member of the Abteilung für Philosophie, the University of Economics and Business Administration, A 1090 Vienna, Schlagergasse 6, Austria.

Teaching business ethics to undergraduates has disclosed difficulties for both students and teacher which raise deeper issues about what is the purpose of teaching ethics and of engaging in business. The author is Lecturer in Business Ethics in the Faculty of Business and Social Studies, Cheltenham & Gloucester College of Higher Education, Swindon Road, Cheltenham, Glos GL50 4AZ, UK.

A philosopher looks at the scepticism of some of her colleagues about just what the study of ethics can contribute to ethical business, and argues that its main purpose is to help business people to engage in constructive ethical dialogue in society as well as in their corporation. The author is a regular contributor to this Review, and Director of the Centre for Business and Professional Ethics, University of Leeds, Leeds LS2 9JT.

Online teaching is consistent with the educational tradition of extension and distance learning, but its recent expansion creates new issues, especially in teaching business ethics/business and society. Students, professors, and especially administrators benefit greatly from some aspects of online learning. Online learning has such advantages over the traditional classroom in logistical flexibility and cost efficiency that decision-making may become overly pragmatic. There are special challenges in teaching business ethics/business and society online, as the subject matter requires nuanced judgment rather than (...) right-or-wrong answers. (shrink)

This paper takes the form of a reflective dialogue between three teachers of business ethics working in different continents. Originating as a conference debate, it takes as its theme the notion of ideological ‘neutrality’ and the role of the business ethics teacher. A position statement outlines an argument for ‘restraint’ as a modern day Aristotleian mean to protect student academic freedom. Two responses follow. The first of these provides a moderate advocacy position based on Socratic principles. The second response outlines (...) the notion of teaching as a relational process necessitating delayed disclosure and moral courage on the part of the teacher. The paper concludes with a brief reflection by the author of the position statement. (shrink)

Several popular arguments against teaching business ethics are examined: (a) the ethical duty of business people is to maximize profit within the law, whence the irrelevance of ethics courses (the Milton Friedman argument); (b) business people respond to economic and legal incentives, not to ethical sentiments, which means that teaching ethics will have no effect; (c) one cannot study ethics in any meaningful sense anyway, because it is a matter of personal preference and is unsusceptible to rational treatment; (d) moral (...) character is formed in early childhood, not while sitting in ethics class; and (e) business students see no motivation to study ethics and will not take it seriously. The mistakes and confusion that underlie these arguments are exposed. (shrink)

How can business schools best prepare their students to deal with the ethical challenges they will face in the ‘real world’? For three or four decades members of business (and other professional) schools have debated the relative merits of teaching ethics in a stand-alone “foundational” course or teaching a little bit of ethics “across the curriculum” in every course. This paper explores a third option—having an ethicist as a member of a team that teaches an integrated approach to management—which combines (...) the advantages of the two traditional options while avoiding some of their shortcomings. The paper begins with a lengthy discussion about the interdisciplinary nature of the field of business ethics and about the pedagogical implications of this conception of the field. And it concludes with a case study of the team-teaching approach at the Sauder School of Business of University of British Columbia. (shrink)

Facing a near-death experience naturally pushes people to re-examine their basic moral values. During the recent global economic melt-down, calls to solve the concomitant ‘moral’ crisis come in from all fronts. The presumption is that we need business ethics courses to teach our business students to learn to take the moral high-road; we need ethics pledges and codes of ethics to teach business students to do the right thing. But in reality, what impact can a business ethics class have on (...) business people in the real world of tough choices and intense competition? It is my contention that if we look at the teaching of business ethics from the traditional Foundational Platonic perspective, we over-promise and under-deliver. By contrast, a Post- Foundational perspective gives us a pragmatic and viable picture of business ethics pedagogy that can make a real difference. (shrink)

I argue that epistemic failings are a significant and underappreciated moral hazard in the financial services industry. I argue further that an analysis of these epistemic failings and their means of redress is best developed by identifying policies and procedures that are likely to facilitate good judgment. These policies and procedures are “best epistemic practices.” I explain how best epistemic practices support good reasoning, thereby facilitating accurate judgments about risk and reward. Failures to promote and adhere to best epistemic practices (...) contributed to the 2008 financial crisis. I identify and discuss some of the ways in which best epistemic practices were violated in the events that led to the crisis, with a focus on the role of the credit rating agencies. I go on to discuss some of the ways in which these failings have been redressed. I conclude by observing how proactive regulation for best epistemic practices might help us to anticipate and avoid future crises. (shrink)

In recent years, the Supreme Court appears to have taken a greater interest in "business" issues. Does this reflect a change in the Court's orientation, or is it the natural outcome of the appellate process? Is the Court "pro-business"? If so, in what ways do the Court's decisions support business interests and what does that mean for the law and the American public? Business and the Roberts Court provides the first critical analysis of the Court's business-related jurisprudence. In this volume, (...) prominent academics examine the Roberts Court's handling of business-related cases, through a series of empirical and doctrinal analyses. Issues covered include securities law, antitrust, labor law, preemption, and environmental law, among others. Business law and regulatory cases touch on many important legal doctrines and can have far-reaching effects. Understanding the bases upon which the Supreme Court decides business-related cases is of tremendous importance to practitioners and academics. It can also further greater understanding of one of the nation's most important government institutions. These issues are of interest to academics, but also of practical importance to Supreme Court and business practitioners. (shrink)