Can SRI be a means to make investors both virtuous and prosperous? This paper argues that there can be significant tensions between these goals, and that SRI (and indeed all investment) should not allow the pursuit of maximizing investment returns to prevail over an ethical agenda of promoting social and economic justice and environmental protection. The discourse on SRI has changed dramatically in recent years to the point where its capacity to promote social emancipation, sustainable development and other ethical goals (...) is in jeopardy. Historically, SRI was a boutique sector of the market dominated by religious-based investors who sought to invest in accordance with the tenets of their faith. From the early 1970s, the aspirations of the SRI movement morphed significantly in the context of the divestment campaign against South Africa's apartheid regime. No longer were social investors satisfied with just avoiding profit from immoral activities; instead, they also sought to change the behavior of others. Business case SRI is a problematic SRI benchmark for several reasons: often there is a countervailing business case for financing irresponsible activities, given the failure of markets to capture all social and environmental externalities; secondly, even if investors care about such concerns, there may be no means of financially quantifying their significance for investment purposes; and, thirdly, even if such factors can be financially quantified, they may be deemed to be such long-term financial costs or benefits that they become discounted and ignored. The ethics case for SRI and ethical business practices more generally takes the view that both investors and the companies they fund have ethical responsibilities that trump the pursuit of profit maximization. Ethical investment should be grounded on this foundation. However, it may not be enough. To keep ethical investment ethical will likely require institutionalizing new norms and governance standards, in such domains as reforming fiduciary duties and the internal governance of financial organizations. SRI's own codes of conduct including the UNPRI have yet to demonstrate the robustness to move the financial community beyond business as usual. (shrink)

We review the relationships between language, inner speech, and cognitive control in children and young adults, focusing on the domain of cognitive flexibility. We address the role that inner speech plays in flexibly shifting between tasks, addressing whether it is used to represent task rules, provide a reminder of task order, or aid in task retrieval. We also consider whether the development of inner speech in childhood serves to drive the development of cognitive flexibility. We conclude that there is a (...) close association between inner speech and cognitive flexibility in both adults and children. Experimental work has begun to specify in detail the role that inner speech might play in adult performance, suggesting that language plays a facilitative but not essential role in representing and activating the relevant task set, processes that occur on both switch and nonswitch trials. While developmental studies suggest an increase in the spontaneous use of verbal strategies with age, implying an increase in top-down control during shifting, experimental work is needed to specify more precisely the nature and precise role that inner speech plays in the development of cognitive control through childhood. (shrink)

ABSTRACT:We provide a brief history of the business and human rights discourse and scholarship, and an overview of the articles included in the special issue.

ABSTRACT:We provide a brief history of the business and human rights discourse and scholarship, and an overview of the articles included in the special issue.

ABSTRACT:We provide a brief history of the business and human rights discourse and scholarship, and an overview of the articles included in the special issue.

This article examines whether ethical business practice enhances financial performance with respect to interorganizational favour exchange. We argue that the link between the ethicality and economic utility of interorganizational favour exchange is governed by: (1) organizational–individual interest alignment/conflict and (2) the fairness or justifiability of favour exchanges from the perspective of third parties. We classify interorganizational (IO) favour exchange into four types (Business–Personal, Personal–Business, Personal–Personal and Business–Business favour exchange). Our analysis shows that the first three types of favour exchange are (...) unethical as they involve conflicts between organizational and individual interests in one or both participating organizations that negatively affect organizational value creation. The last type of favour exchange involves organizational–individual interest alignment in both participating organizations and positively affects the capacity of those involved in the exchange to create value. Favour exchanges of this fourth variety are ethically justifiable unless they unfairly damage the legitimate interests of third parties. In the latter case, these favour exchanges create the risk of negative third party reactions, which in turn affect the sustainability of the benefits of the favour exchanges to the focal group (the dyad). Our research results advance understanding of the ethical and economic implications of IO favour exchange, counter the prejudice against this behaviour in organizations, provide ethical guidance for management and business practice, and have implications for the relationship between doing well and doing good. (shrink)

The paper begins with an examination of traditional attitudes towards business ethics. I suggest that these attitudes fail to recognize that a principal function of ethics is to facilitate cooperation. Further that despite the emphasis on competition in modern market economies, business like all other forms of social activity is possible only where people are prepared to respect rules in the absence of which cooperation is rendered difficult or impossible. Rules or what I call the ethics of doing, however, constitute (...) just one dimension of ethics. A second has to do with what we see and how we see it; a third with who we or what I describe as the ethics of being. Of these three dimensions, the first and the third have been most carefully explored by philosophers and are most frequently the focus of attention when teaching business ethics is being discussed. I argue that this focus is unfortunate in as much as it is the second dimension which falls most naturally into the ambit of modern secular educational institutions. It is here that moral education is most obviously unavoidable, and most clearly justifiable in modern secular teaching environments. I conclude by describing the importance of this second dimension for the modern world of business. (shrink)

ABSTRACT:Central to the United Nations Framework setting out the human rights responsibilities of corporations proposed by John Ruggie is the principle that corporations have a responsibility to respect human rights in their operations whether or not doing so is required by law and whether or not human rights laws are actively enforced. Ruggie proposes that corporations should respect this principle in their strategic management and day-to-day operations for reasons of corporate (enlightened) self-interest. This paper identifies this as a serious weakness (...) and argues that identifying the responsibility to respect human rights as an explicitly ethical obligation to be respected for that reason would provide a much stronger justificatory foundation for respecting the principle seen from a corporate perspective, given that corporations are accountable to their shareholders for their deployment of the firm’s financial resources. (shrink)

Abstract: Stakeholder theorists have typically offered both a business case and an ethics case for business ethics. I evaluate arguments for both approaches and find them wanting. I then shift the focus from ethics to law and ask: “Why should corporations obey the law?” Contrary to what shareholder theories typically imply, neoclassical or profit maximization theories of the firm can offer answers based only on instrumental justifications. Instrumental justifications for obeying the law, however, are pragmatically and normatively incoherent. This is (...) because the modern corporation is a legal artifact. It exists because communities create the legal framework necessary for its existence. Individual corporations can therefore be said to owe their existence to a partnership (what might be called a social contract) between shareholders and governments, a partnership that is itself built on the shared though often implicit understanding that corporations have an unconditional (categorical) obligation both to obey the law and to treat their stakeholders ethically while generating wealth for their shareholders. (shrink)

Functional words are of substantial interest in moral philosophy because they appear to lie at the juncture of description and evaluation. This is no doubt the reason that they have played a significant part in much recent discussion of the relation between facts and values. Yet, in spite of the many discussions in which functional words have made an appearance, their significance for an understanding of the relation between facts and values remains unclear. A thorough-going examination of the nature of (...) functional words would appear to be in order. And while such a study is beyond the scope of a single article it should nevertheless be possible to make a beginning. That, at any rate, is my objective in what follows. (shrink)

This study focuses on the practice of punishment, as it is inflicted by the state. The author's first-hand experience with penal reform, combined with philosophical reflection, has led him to develop a theory of punishment that identifies the principles of sentencing and corrections on which modern correctional systems should be built. This new theory of punishment is built on the view that the central function of the law is to reduce the need to use force in the resolution of disputes. (...) Professor Cragg argues that the proper role of sentencing and sentence administration is to sustain public confidence in the capacity of the law to fulfil that function. Sentencing and corrections should therefore be guided by principles of restorative justice. He points out that, although punishment may be an inevitable concomitant of law enforcement in general and sentencing in particular, inflicting punishment is not a legitimate objective of criminal justice. The strength and appeal of this account is that it moves well beyond the boundaries of conventional discussions. It examines punishment within the framework of policing and adjudication, analyses the relationship between punishment and sentencing, and provides a basis for evaluating correctional practices and such developments as electronic monitoring. (shrink)

This paper argues that widely accepted understanding of the respective responsibilities of business and government in the post war industrialized world can be traced back to a tacit social contract that emerged following the second world war. The effect of this contract was to assign responsibility for generating wealth to business and responsibility for ensuring the equitable sharing of wealth to governments. Without question, this arrangement has resulted in substantial improvements in the quality of life in the industrialized world in (...) the intervening period. I argue that with advance of economic globalization and the growing power and influence of multi national corporations, this division of responsibilities is not longer viable or defensible. What is needed, fifty years after the United Nations Declaration of Human Rights, is a new social contract that shares responsibilities for human rights and related ethical responsibilities in a manner more in keeping with the vision captured by the post war Declaration. I conclude by suggesting some reasons for thinking that a new social contract may be emerging. (shrink)

Is it possible to design a forest policy that satisfies ethical and environmental concerns and is acceptable to business, labour and First Nations representatives? What is the best path through the tangle of ethical issues surrounding the collapse of the east coast fishery? What sort of obligations does a rich nation such as Canada have to satisfy the claims of global environmental justice? These are the sorts of issues in applied ethics that are tackled in this collection of essays, the (...) vast majority of which have been written especially for this volume. It is the first Canadian collection of its kind. The book is divided in to sections detailing with such topics as the environment and the economy; ethical issues relating to non-human animals; issues of gender; and issues relating to native peoples. Most of the authors are philosophers, though specialists in geography, geology, and the social sciences are also among the contributors. Frequent reference is made to theoretical ethical concerns, but the focus throughout is on applied ethics, and a variety of case studies are included. (Examples include essays on animal rights and the case of native hunters; surface mining in Northern Ontario, the Quebec arctic; and fishing communities in the Maritimes.) Comparisons are frequently drawn to policies and ethical questions arising in other countries-most prominently the United States. (shrink)

Corporate governance has resurfaced as a topic in the ongoing financial crises. This article frames the debate on corporate governance within the ongoing concerns about the corporate role in wider societal governance. It then maps out the context of the six scholarly contributions in this special issue by highlighting how the current debate moves towards a closer integration of governance at corporate and societal level.

It is Alistair Macleod's view that what he calls Justice Judgments are at root Judgments abput states of affair and only derivatively about actions. His interest in Fredrick Hayek's book, The Mirage of Social Justice, derives at least in part from the fact that assessing the Justice of actions is logically prior to assessing the Justice of situations or states of affairs. Thus evaluating Hayek's views offers a way in which Macleod can test his own position.In responding to Professor Macleod's (...) interesting and provocative paper, I shall begin by criticising his own position with respect to the relation of Judgments about situations to Judgments about actions. I shall argue that contrary to what Macleod asserts Judgments about the Justice of actions and Judgments about the Justice of situations are inextricably intertwined. Second, I shall argue that Macleod's criticism of the view that Judgments about the Justice of actions are more basic than Judgments about the Justice of situations is a sound one. However, Hayek's attack on social Justice is not rooted in this position. (shrink)

Stakeholder theories propose that managers are responsible not only for maximizing shareholder value, but also for taking into account the well being of other parties affected by corporate decisions. While the language of stakeholder theory has been taken up in industries like mining, controversy remains. Disagreements arise not only about the apportionment of costs and benefits among stakeholders, but about who counts as a stakeholder and about how "costs" and "benefits" are to be conceived. This paper investigates these questions empirically (...) by examining how managers in one mining company talk about corporate responsibilities and by analysing the explicit and implicit values systems and moral logics which inform this talk. The investigations discovered that while some claims by stakeholder groups were readily accommodated by managers, others were not. Analysis of the value frameworks employed by the mangers confirms the views of leading stakeholder theorists that stakeholder theory is grounded in the realities of management practice and behaviour. (shrink)

Using 15 years of data (1995–2009) from literature reviews, survey questionnaires, personal interviews, and desktop research, the authors examine North American (Canada, Mexico, and the United States of America) regional trends in business ethics research, teaching and training. The patterns indicate that business ethics continues to flourish in North America with high levels of productivity in both quantity and quality of teaching, training and research publication outputs. Topics/themes that have been covered during the time period are treated with an acknowledgement (...) of the concomitant marginal impact on improving ethical business behavior and contexts—as recurring domestic and global scandals attest. Major North American business ethics challenges/issues to be addressed in the future are identified. (shrink)

BackgroundProfessional health care practice should be based on ethical decisions and actions. When there are competing ethical standards or principles, one must choose between two or more competing options. This study explores ethical dilemmas experienced by International Board Certified Lactation Consultants.MethodsThe investigator interviewed seven International Board Certified Lactation Consultants and analyzed the interviews using qualitative research methods.Results"Staying Mother-Centred" emerged as the overall theme. It encompassed six categories that emerged as steps in managing ethical dilemmas: 1) recognizing the dilemma; 2) identifying (...) context; 3) determining choices; 4) strategies used; 5) results and choices the mother made; and 6) follow-up. The category, "Strategies used", was further analyzed and six sub-themes emerged: building trust; diffusing situations; empowering mothers; finding balance; providing information; and setting priorities.ConclusionsThis study provides a framework for understanding how International Board Certified Lactation Consultants manage ethical dilemmas. Although the details of their stories changed, the essence of the experience remained quite constant with the participants making choices and acting to support the mothers. The framework could be the used for further research or to develop tools to support IBCLCs as they manage ethical dilemmas and to strengthen the profession with a firm ethics foundation. (shrink)

Originally published in 1964, this book examines the influence of reason and authority upon English thought in the eighteenth century. The text relates these two concepts to movements in religious and political thought, beginning with Locke's views on faith and reason before going through various areas and finishing with the beginnings of Romanticism. The age of the Enlightenment is seen as constituted, on the one hand, by an attempt to relate all significant intellectual movements to reason and, on the other, (...) an attempt to devise proper restraints on the authority of reason. This book will be of value to anyone with an interest in philosophy, social and political thought, and eighteenth-century English history. (shrink)

What is happening in Islam is of concern to more than Muslims. The Qur’an is the prime possession of Muslims: how then, are they reading and understanding their sacred Book today? This volume, originally published in 1985, examines eight writers from India, Egypt, Iran and Senegal. Their way with the Qur’an indicates how some in Islam respond to the pressures in life and thought, associated in the West with thinkers such as Kierkegaard, Marx, Camus, Kafka, Jung, Fanon and De Chardin.