Abstract

Aggregate theory is a theory of business ethics that achieves maximum comprehensiveness and usefulness by integrating elements of economic theory, utilitarian theory, human rights theory and social contract theory. It expands basic concepts of economics to measure the aggregate net satisfaction of all individual preferences, not just those involving market transactions. ;Aggregate theory adopts negative human rights as well as Robert Nozick's minimal state, social justice theory, and framework for utopias. It proposes additional justification for initial acquisition of natural resources. It develops a new social metacontract theory that expands the framework for utopias to include supplemental states formed by actual social contracts. ;Aggregate theory uses social metacontract theory and aggregate measurement theory to justify coercive regulation of free markets without violating human rights. It argues that such regulated markets can maximize the aggregate of all individual preference satisfaction. It also argues that such maximization is totally consistent with, even dependent upon, a framework of negative human rights including a right of self-ownership, property rights and a right to enforcement of contracts. ;Another position is that the minimal state, and only the minimal state, is obligated to facilitate such maximization to the extent that it can without violating human rights. No individual agent is obligated to adopt the maximization of the aggregate of individual preference satisfaction as a personal goal. Instead, if each agent pursues his own rational self-interest within the constraints of negative human rights and property rights, properly regulated markets will maximize aggregate preference satisfaction. ;Aggregate theory argues that maximizing the aggregate of individual preference satisfaction is the correct value by defending it against the proposals of traditional utilitarian theory and the communitarian theory of Peter Singer. It also argues that such maximization actually satisfies John Rawls' principle of justice-as-fairness while the means Rawls proposes cannot possibly achieve that goal. ;The theory also argues that each agent, acting from rational self-interest, would explicitly agree to one of the social contracts within the framework for utopias, if only one providing for just a minimal state.