Business and Society Review, Volume 127, Issue S1, Page 319-342, Spring 2022.

The massive introduction of artificial intelligence has triggered significant societal concerns, ranging from “technological unemployment” and the dominance of algorithms in the work place and in everyday life, among others. While AI is made by humans and is, therefore, dependent on the latter for its purpose, the increasing capabilities of AI to carry out productive activities for humans can lead the latter to unwitting slavish existence. This has become evident, for example, in the area of social media use, where AI (...) programmers tie psychology and persuasion to the human social need for approval and validation in ways that few users can resist. We argue that AI should serve humans with humans as masters and not the other way around. Moreover, we propose that virtue ethics might play a role to solidify the human as master of AI and guard against the alternative of AI as the master. (shrink)

Markets, corporations, shareholding, management, law, and ethics are all human constructs. A human element seems essential to their existence. Yet, the predominant conception of shareholders as used in academia as well as the business world is thin, generic, and inanimate. This article argues that a thick conception of shareholders as human beings is needed to legitimize and improve managerial decision making under value pluralism, accurately reflect empirical reality of capital markets, and meet moral demands to respect the dignity of the (...) human person. Drawing on the philosophical idea of thick evaluative concepts, the article explores how this idea can be applied to shareholders and begins to examine some of the implications of considering shareholders’ humanity for the responsibilities of and relationships between managers and shareholders. (shrink)

Institutional investors control almost 60% of all assets under management worldwide and encompass a wide variety of organizations. Despite this reach, however, institutional investors have not received the normative scrutiny they merit beyond general discussions around their legally grounded fiduciary obligations to their beneficiaries. This paper offers a discussion of institutional investor ethical obligations in light of their specific attributes. We propose that the different characteristics of institutional investors and the diverse roles they play in the marketplace inform the scope (...) of their activities, and, in turn, the different ways in which their basic ethical obligations can be fulfilled. (shrink)