Today, capitalism is in question, as the 2013 Academy of Management conference theme claimed. Many view business skeptically because they see capitalism as incompatible with ethics. The same problem pervades the business ethics education classroom. Business ethics can be taught in a way that demonstrates that economics and ethics are compatible and are integrated most directly in the function of management. This essay provides an overview of Ayn Rand’s philosophy as an alternative to current conventions but largely consistent with approaches (...) such as virtue ethics and conscious capitalism. The essay concludes with challenges to teaching Objectivism in business schools. (shrink)

This article describes the development and validation of a scale specifically designed to measure one's propensity for Objectivism. The scale developed in this article assesses metaphysics, epistemology, ethics, and politics. A three-stage process of scale development results in a multidimensional scale that largely supports Rand's original conception of the construct in the United States and Lithuania. Several challenges are identified, including problems with select items referencing specific political preferences and addressing notions of a higher being. Prospects for future research are (...) identified, including tests for associations between Objectivism and individual factors such as leadership style, organizational commitment, and job performance. (shrink)

It is time that we in organization sciencesdevelop and implement a new mental model forcause and effect relationships. The dominantmodel in research dates at least to the 1700sand no longer serves the full purposes of thesocial science research problems of the21st century. Traditionally, research is``essentially concerned with two-variableproblems, linear causal trains, one cause andone effect, or with few variables at the most''(von Bertalanffy, 1968, p. 12). However, theliterature is replete with examples ofphenomena in which the traditional cause andeffect construct does (...) not allow for greaterunderstanding and insight into the phenomena. Different conceptions of cause and effectrelationships have been developed includingproducer/product relationships (Ackoff 1981),design causality (Argyris and Schon, 1996), andfour classes of causal models (Schwartz andOgilvy, 1979). Of interest here is thepossibility of mutual causality, ``theassumption that the relationship between two(or more) phenomena is heavily influenced bythe presence of feedback loops that areinstantaneous, or nearly so'' (Dent, 1999). Maturana's (1998, Maturana and Varela, 1987)work on a new epistemology and ontologyprovides a foundation for the alternative modelof cause and effect proposed here. Thisinteraction model includes the dynamics of thetraditional X and Y, but adds the structure ofX (A), the structure of Y (B), the environment(E), and time (T). (shrink)