“We need to start by recognising that the company is a contributor to the moral order of society.” Only then can we really and accurately identify the role of business in today's society. The author of this important study is Principal Lecturer in the Business Studies Department, Manchester Metropolitan University.

We expound an economic explanation of the nature, causes, and effects of moral conventions. We show, first, that systems of moral rules lead to Pareto-efficiency; second, that the efficiency they induce may be interpreted as the outcome of an exchange of courtesies; third, and finally, that moral exchange takes place whenever the costs of transaction are sufficiently low. We also explain various phenomena, including the diversity of moral rules in time and space. Finally, we give sufficient conditions for universal moral (...) rules to emerge in a sequence of agreements involving two agents only at a time. (shrink)

This inaugural handbook documents the distinctive research field that utilizes history and philosophy in investigation of theoretical, curricular and pedagogical issues in the teaching of science and mathematics. It is contributed to by 130 researchers from 30 countries; it provides a logically structured, fully referenced guide to the ways in which science and mathematics education is, informed by the history and philosophy of these disciplines, as well as by the philosophy of education more generally. The first handbook to cover the (...) field, it lays down a much-needed marker of progress to date and provides a platform for informed and coherent future analysis and research of the subject. -/- The publication comes at a time of heightened worldwide concern over the standard of science and mathematics education, attended by fierce debate over how best to reform curricula and enliven student engagement in the subjects There is a growing recognition among educators and policy makers that the learning of science must dovetail with learning about science; this handbook is uniquely positioned as a locus for the discussion. -/- The handbook features sections on pedagogical, theoretical, national, and biographical research, setting the literature of each tradition in its historical context. Each chapter engages in an assessment of the strengths and weakness of the research addressed, and suggests potentially fruitful avenues of future research. A key element of the handbook’s broader analytical framework is its identification and examination of unnoticed philosophical assumptions in science and mathematics research. It reminds readers at a crucial juncture that there has been a long and rich tradition of historical and philosophical engagements with science and mathematics teaching, and that lessons can be learnt from these engagements for the resolution of current theoretical, curricular and pedagogical questions that face teachers and administrators. (shrink)

This article discusses the interplay of public policy and market-driven initiatives to improve farm animal welfare. Over the last couple of decades, the notion of ‘market-driven animal welfare’ has become popular, but can the market deliver the FAW that consumers and politicians expect? Using the Danish pork sector as the empirical setting, this article studies efforts to improve private FAW standards following changes to general regulations. The analysis shows that ethical misgivings regarding the adequacy of current and prospective FAW standards (...) are tempered by the economic considerations that guide the practices of some actors. The study also shows that efforts to improve FAW standards are contingent on collaboration and coordination across globalised markets among actors with divergent interests. The findings have important implications for market practices and public policy in relation to FAW. (shrink)

Ecological thought has made a deep and apparently lasting impact on virtually every tradition in political theory (cf. e.g. Dobson, 2007) with the exception of libertarianism. While left- and right...

Conventional agency theory typically focuses on a unidirectional problem, in which an agent behaves opportunistically against the interests of a principal. Yet, this conceptualization is too limited to fully describe all aspects of principal–agent relationships. This article presents a more comprehensive framework explaining a potential three-directional problem—that is, agents behave opportunistically against the interests of principals, principals behave opportunistically against the interests of agents, and relationships between agents and principals representing confluence of interests affect the interests of third-party stakeholders. The (...) article provides evidence of these problems, describes their unique characteristics, and outlines implications for society. It concludes with a discussion focusing on the implications of the proposed framework for purported governance solutions, the ongoing debate between shareholder and stakeholder views of the firm, and business practices. (shrink)

As liberal democracies, what can the United States, Europe, and Japan be expected to embrace as “democratic” solutions to global environmental problems such as climate change? It is our argument that contradictions in liberal democratic politics lead these states to advocate solutions that are nature-as-commodity oriented and that idealize the notion of “managed nature.” In the case of climate change, we specifically argue that liberal democracies can be expected to pursue a policy regime of “efficient global warming.”.

I compare the epistemic culture of Wikipedia with the epistemic culture of science, with special attention to the culture of collaborative research in science. The two cultures differ markedly with respect to (1) the knowledge produced, (2) who produces the knowledge, and (3) the processes by which knowledge is produced. Wikipedia has created a community of inquirers that are governed by norms very different from those that govern scientists. Those who contribute to Wikipedia do not ground their claims on their (...) reputations as knowers, for they stand to lose nothing if and when their contributions are found to be misleading or false. And the immediacy of the medium encourages gossip and jokes. Hence, though we have some reason to believe that an invisible hand aids scientists in realizing their epistemic goals, we cannot ground our confidence in what is reported on Wikipedia on the fact that an invisible hand ensures quality. Nor is the information on Wikipedia aptly justified in a manner similar to the way testimony can be justified. (shrink)

David Hull accounts for the success of science in terms of an invisible hand mechanism, arguing that it is difficult to reconcile scientists' self-interestedness or their desire for recognition with traditional philosophical explanations for the success of science. I argue that we have less reason to invoke an invisible hand mechanism to explain the success of science than Hull implies, and that many of the practices and institutions constitutive of science are intentionally designed by scientists with an eye to realizing (...) the very goals that Hull believes need to be explained by reference to an invisible hand mechanism. Thus, I reduce the scope of Hull's invisible hand explanation and supplement it by appealing to a hidden hand explanation. (shrink)

An influential view of education is that it prepares young people for adult life, usually in the areas of civic engagement, leisure and contemplation. Employment may be a locus for learning some worthwhile skills and knowledge, but it is not itself the possible locus or one of the possible loci of a worthwhile life. This article disputes that view by drawing attention to those aspects of employment that make it potentially an aspect of a worthwhile life. The exercise and development (...) of one's abilities, co-operation with others, self-discovery and the pursuit of excellence are all identified as potential components of a worthwhile life. If such an aspect of life is worth striving for then education should prepare one for it. Objections to this argument are reviewed and ultimately rejected. (shrink)

The development of a conception of critical pedagogy is itself an aspect of the development of critical rationality within late modern societies, closely connected with the role of education in developing critical rationality. The role of critique pervades all aspects of life: for people as citizens, workers and self-determining private individuals. Late modern societies depend on a critically minded population for their viability, for the democratic management of a competing balance of interests and for a capacity for rapid renewal. These (...) requirements put a demand on the education system for the development of critical rationality. However, its development contains within itself the seeds, not just of renewal, but of transformation or even anarchy. This is discussed in relation to three major aspects of education—liberal, civic and vocational—and it is argued that there is a tension within each that arises from the requirement of critique for their successful functioning as educational practices in liberal societies and from the implausibility of developing forms of critique that are inherently self-limiting. Societies that espouse the development of critical rationality as a key educational aim exist in a state of tension and of uncertainty as to the extent to which it can be developed. Attempts to limit critique to consideration only of what is worthwhile are bound to be futile. On the other hand, education must be concerned with preparation for the worthwhile. Critique thus performs the important function of ensuring that our conception of the worthwhile does not remain fixed, but is itself an agent of social change. This paper explores this issue and argues that the problem of reconciling preparation for social participation with preparation for critical engagement exists in all three spheres. The problems may not be resolvable ones but should encourage continual awareness of the scope and limits of educational critique in liberal societies. (shrink)

Sethi and Schepers have identified an important issue for the global economy: Providing some mechanism for requiring assurance that environmental, social, and corporate governance information provided by a business is accurate and objective. Where they have gone wrong is in trying to change the mission of the United Nations Global Compact. From its inception, the UNGC has been clear that its mission is not to provide such assurance. This article first outlines the background for the historic announcement of the UNGC (...) by the then Secretary-General of the UN, Kofi Annan. Then a summary of the major criticisms of the initiative is provided with a focus on the Sethi–Schepers article. Finally, I argue that the mission of the UNGC, to gain consensus in the global community on the shared values and moral norms that will guide the global economy, is being accomplished, although it is a work in progress. (shrink)

Catholic Social Teaching has taken a remarkable turn with the May 1991 document on economic ethics,Centesimus Annus. During their one hundred year history, church documents were notable for their courageous championing of the rights of the least advantaged; they were much less distinguished for their understanding of how markets and incentives function in capitalism. Most business leaders admired church teaching for its compassion but had little respect for its competence. With this most recent document, however, there is a growing conviction (...) that the church may have come of age in economic ethics. Even theWall Street Journal has celebratedCentesimus Annus. The article outlines the highlights of the document and its points of continuity with the tradition. Responses from business and the academy are also briefly considered. (shrink)

The article discusses the conditions under which can we say that people enter the economic system voluntarily. “The Need for an Exit Option” briefly explains the philosophical argument that voluntary interaction requires an exit option—a reasonable alternative to participation in the projects of others. “The Treatment of Effective Forced Labor in Economic and Political Theory” considers the treatment of effectively forced interaction in economic and political theory. “Human Need” discusses theories of human need to determine the capabilities a person requires (...) to have an acceptable exit option. “Capability in Cash, Kind, or Raw Resources” considers what form access to that level of capability should take—in cash, kind, or raw resources, concluding that a basic income guarantee is the most effective method to ensure an exit option in a modern, industrial economy. (shrink)

The dialogue about the future of health care in the US has been impeded by flawed conceptions about medicine and business. The present paper re-examines some of the underlying assumptions about both medicine and business, and uses more nuanced readings of both terms to frame debates about the ACA and the emerging health care environment.

Many observers claim that business has become a powerful force in medicine and that the future of health care cannot escape that reality, even though some scholars lament it. The U.S. recently experienced the most devastating recession since the Great Depression. As health care costs rise, we face additional pressure to rein in health care spending. We also have important new legislation that could well mark a significant shift in how health care is provided and who has access to care, (...) namely the Affordable Care Act. These changes underscore the need to bring new thinking to the conversation about health care and to move beyond conceptual and practical obstacles that inhibit our progress.In this paper we do not to claim to have solutions. Rather, our aim is to try to identify some obstacles to fostering a better conversation about the future of health care and to envisioning a better health care system. (shrink)

Michael Walzer is one of the most distinguished political philosophers and social critics of this century. His ideas have had great import and influence in political philosophy and political discussion, yet very few of his ideas have been incorporated explicitly into the business ethics literature. We argue that Walzer’s work provides an important conceptual canvas for business ethics scholars that has not been adequately explored. Scholars in business ethics often borrow from political theory and philosophy to generate new insights and (...) develop new substantive contributions. Many valuable theoretical resources are already used extensively—particularly Aristotle, Kant, Marx and a variety of utilitarian philosophers. Walzer offers another set of resources to bring to the conversation of what business ethics is and how business ethicists add value. This paper provides an opportunity to delve further into Walzer’s writings, particularly themes that are tied to business ethics, and to illustrate how his ideas can be extended to reshape our understanding of the field and develop new perspectives on ethical issues in commerce. (shrink)

This essay explores the symbiotic relationship between European modernity, its vision of woman and water. The union of these three metaconcepts is consecrated by the Ovidian story of Narcissus and his other, Echo. The West finally found itself completely through Hegel, the Ur-narcissist, who explains the immutable link between that European monopoly, history (by which he means the potential for becoming modern), and the sea. The narcissism of modernity is the great theme of Marx and Engels in the Communist Manifesto, (...) which shows how the bourgeoisie seeks to remake the entire world in its own image. Psychoanalysis, through the writings of Ferenczi, joined in cementing the connection, likening woman to the primal sea to which the male ever yearns to return. And Foucault suggests a potential conclusion from this metaconceptual constellation: that Man, a Western creation, may well disappear like a face drawn on a sandy beach. (shrink)

The article, Inside Trading Revisited, has taken the stance that insider trading is neither unethical nor economically inefficient. Attacking my arguments to the contrary developed in an earlier article, The Ethics of Inside Trading (Journal of Business Ethics, 1989) this article constructs careful arguments and even appeals to Adam Smith to justify its conclusions. In my response to this article I shall clarify my position as well as that of Smith to support my counter-contention that insider trading is both unethical (...) and inefficient. (shrink)

With the demise of Marxism and socialism, the United States is becoming a model not merely for free enterprise, but also for employment practices worldwide. I believe that free enterprise is the least worst economic system, given the alternatives, a position I shall assume, but not defend, here. However, I shall argue, a successful free enterprise political economy does not entail mimicking US employment practices. I find even today in 1998, as I shall outline in more detail, these practices, when (...) consistently carried out, by and large erode trust in the workplace, they are, on balance unfair to workers and managers, and, if Jeffrey Pfeffer is correct, they do not maximize long-term corporate earnings or growth. Getting clear on US employment practices and their weaknesses may help to shape other models for employment that neither contravene free enterprise nor are degrading to workers. (shrink)

Both Adam Smith and Herbert spencer, albeit in quite different ways, have been enormously influential in what we today take to be philosophies of modern capitalism. Surprisingly it is Spencer, not Smith, who is the individualist, perhaps an egoist, and supports a "night watchman" theory of the state. Smith's concept of political economy is a notion that needs to be revisited, and Spencer's theory of democratic workplace management offers a refreshing twist on contemporary libertarianism.

This article presents two separate but closely related studies. We used a first sample to investigate the relationships among individuals’ reports of their income and their subjective well-being, and their approval of unethical behavior in 27 countries and a second sample to investigate the relationship between corruption in 55 countries and their populace’s aggregated feelings of subjective well-being (happiness). Analysis of data from 27,762 working professionals showed that, although reported feelings of subjective well-being were negatively related to their approval of (...) unethical behaviors, income was positively related to their approval of unethical behaviors. In addition, the effects for feelings of subjective well-being were particularly strong for high-income people. Analyses also showed that, after controlling for economic development and other country-level factors, corruption was negatively related to a country’s feelings of happiness. These findings suggest that feelings of subjective well-being may lead to more ethical, less corrupt behavior and that the tolerance of unethical, corrupt behavior may lead to less collective happiness and subjective well-being. (shrink)

Comparing the typologies of human activities developed by Beauvoir and Arendt, I argue that these philosophers share the same concept of labor as well as a similar insight that labor cannot provide a justification or evaluative measure for human life. But Beauvoir and Arendt think differently about work (as contrasted with labor), and Arendt alone illuminates the inability of constructive work to provide non-utilitarian value for human existence. Beauvoir, on the other hand, exceeds Arendt in examining the ethical implications of (...) our existential need for a plurality of free peers in a public realm. (shrink)

The strengths and weaknesses of the discipline-based organization of our professions can help us understand both the enormous successes of our civilization and its equally spectacular failures. Placing engineering and other professions under greater public scrutiny is recommended as a first step toward addressing our deep structural economic, social, and environmental crises. Doing so can facilitate university reforms to adjust the discipline-based approaches to scientific knowing and technical doing, to permit future graduates to make decisions with better ratios of desired (...) to undesired effects. In the meantime, our war on ourselves rages on. (shrink)

What is the likelihood of controlling technology by means of the law? In traditional societies, the law was deeply embedded in, and dependent on, culture (the totality of human creations for making sense of and living in the world). Industrialization required a complete restructuring of both technology and society, thus engulfing all traditions in a flood of new situations for which there were no precedents. This necessitated a growing reliance on reason at the expense of culture, thereby creating a rational (...) and technical order that evolved with less and less reference to sense (i.e. experience and culture). It is within this context that recent legal transformations must be understood as participating in an order of non-sense. This bodes ill for protecting and helping to ensure a livable, sustainable human future. (shrink)

This commentary focuses on the parts of psychological game theory dealing with preference, as illustrated by team reasoning, and supports the conclusion that these theoretical notions do not contribute above and beyond existing theory in understanding social interaction. In particular, psychology and games are already bridged by a comprehensive, formal, and inherently psychological theory, interdependence theory (Kelley & Thibaut 1978; Kelley et al. 2003), which has been demonstrated to account for a wide variety of social interaction phenomena.

Altruism and cynicism are two fundamental algorithms of moral decision-making. This derives from the evolution of cooperative behavior and reciprocal altruism and the need to avoid being taken advantage of. Rushton (1986) developed a self-report scale to measure altruism, however no scale to measure cynicism has been developed for use in ethics research. Following a discussion of reciprocal altruism and cynicism, this article presents an 11-item self-report scale to measure cynicism, developed and validated using a sample of 271 customer-service and (...) sales personnel. (shrink)

It is often assumed that conventional ethics will contribute positively to economics and business, but here, this judgment will be examined. The conventional ethics of our time is dominated by altruistic philosophy, which has deep roots in religion. Such an idealistic ‘altruistic ethics’ especially emphasizes helping the least advantaged. This principle is contrasted with a more profane ‘reciprocal ethics.’ This term is used for the principle of mutual advantage central to a number of significant philosophers. This latter principle is compatible (...) with the practical norms constituting the morals of the market, while the former implies major adjustment of behavior and policies. Many ethicists consider their field to be ‘applied ethics,’ bringing the concrete rules and practices of the economic sector closer to honored first principles of philosophy. Is it reasonable to expect an influence by the ideas of altruistic ethics to improve the morals and policies of the economy? The process of the Heavily Indebted Poor Countries (HIPC) Initiative of the United Nations illustrates a probably crucial connection with altruistic ethics. Is this project, supported by religiously inspired groups, a sound way to treat a serious global problem? The disadvantages of this project are discussed and alternatives with better potential are presented. The article suggests that altruistic ethics is a dubious foundation for constructive morality and that its dominance in contemporary philosophy constitutes a major obstacle to a more open-minded analysis and sound policies. (shrink)

It is often assumed that conventional ethics will contribute positively to economics and business, but here, this judgment will be examined. The conventional ethics of our time is dominated by altruistic philosophy, which has deep roots in religion. Such an idealistic ‘altruistic ethics’ especially emphasizes helping the least advantaged. This principle is contrasted with a more profane ‘reciprocal ethics.’ This term is used for the principle of mutual advantage central to a number of significant philosophers. This latter principle is compatible (...) with the practical norms constituting the morals of the market, while the former implies major adjustment of behavior and policies. Many ethicists consider their field to be ‘applied ethics,’ bringing the concrete rules and practices of the economic sector closer to honored first principles of philosophy. Is it reasonable to expect an influence by the ideas of altruistic ethics to improve the morals and policies of the economy? The process of the Heavily Indebted Poor Countries (HIPC) Initiative of the United Nations illustrates a probably crucial connection with altruistic ethics. Is this project, supported by religiously inspired groups, a sound way to treat a serious global problem? The disadvantages of this project are discussed and alternatives with better potential are presented. The article suggests that altruistic ethics is a dubious foundation for constructive morality and that its dominance in contemporary philosophy constitutes a major obstacle to a more open-minded analysis and sound policies. (shrink)

This paper challenges Richard Pring's suggestion that parents using private education may be undermining the desire for social justice and equality, using recent arguments of Adam Swift as a springboard. Swift's position on the banning of private schools, which uses a Rawlsian ‘veil of ignorance’ argument, is explored, and it is suggested that, if equality of opportunity is a major aim, it does not go far enough by permitting parental partiality. If the only alternative is a Platonic state, then this (...) may be acceptable. But a neglected third scenario, drawing on the insights of Adam Smith, shows ‘self‐love’ to be a valuable social virtue, leading to a more favourable resolution of the ‘paradox of the shipwreck’ than that explored by Swift. Pointers are given to evidence from developing countries and a more detailed ‘veil of ignorance’ argument to support this case. (shrink)

One-third of all human lives end in early death from poverty-related causes. Most of these premature deaths are avoidable through global institutional reforms that would eradicate extreme poverty. Many are also avoidable through global health-system reform that would make medical knowledge freely available as a global public good. The rules should be redesigned so that the development of any new drug is rewarded in proportion to its impact on the global disease burden (not through monopoly rents). This reform would bring (...) drug prices down worldwide close to their marginal cost of production and would powerfully stimulate pharmaceutical research into currently neglected diseases concentrated among the poor. Its feasibility shows that the existing medical-patent regime (trade-related aspects of intellectual property rights—TRIPS—as supplemented by bilateral agreements) is severely unjust—and its imposition a human-rights violation on account of the avoidable mortality and morbidity it foreseeably produces. (shrink)

Karl Polanyi’s scholarship is interpreted in radically different ways. The “hard” reading of Polanyi sees him as a radical socialist; the “soft” reading presents him as a theorist of mixed economy. This article sides with the soft interpretation. It uses Polanyi’s biography to explain his theoretical “elusiveness,” presents a novel interpretation of his three types of economic integration, claiming all economies are “mixed.” While it acknowledges Polanyi as one of the major sources of world system theory, it claims that Polanyi (...) saw not only the dangers, but also the necessity and positive consequences of globalization. Finally, it shows that, in spite of Polanyi’s life-long commitment to the political left, his scholarly work did not offer an apology of socialism. Instead this article uses Polanyi’s theory of economic integration to build a critical political economy of state socialism. (shrink)

The social discount rate – the rate at which future benefit flows from government investment are discounted to present value – has been a frequent subject of technical debate among professional economists. From a broader perspective, however, the selection of an appropriate rate enjoins consideration of questions that define the very contours of our public philosophy. It carries implicit assumptions about the nature of citizenship, the relation between public and private spheres, and, most singularly, the status of a political society (...) as it is located in time. A key determinant of intertemporal economic allocation, the social discount rate provides a unique registry of a polity's historical consciousness and perceptions of its intergenerational obligations. Yet the highly technical nature of the debate over the discount rate has proven inhospitable to scholars otherwise inclined to investigate its ethical dimensions. Some, notably A. K. Sen, have begun to address these philosophical issues, though much territory remains to be explored. (shrink)

Modern management reporting on its company''s performance is influenced by individuals ethical considerations. Stakeholders philosophies have continued to change over the last 75 years affecting reporting systems for companies reporting information internally and externally. These fundamental changes in philosophy have affected how information is conveyed. We are not claiming that only one philosophical viewpoint dominates companies reporting practices, but there does appear to be a changing trend of philosophies building on one another. We use resource dependence theory in relationship to (...) a decision-making model to explain changing stakeholders positions over time. This paper argues that six dominant philosophical theories have influenced the way individuals and organizations report financial and other information. Further, these philosophies then are depicted in a model that helps us to understand what influences companies to present themselves to the outside world. A vignette is used to depict changing philosophical views for several companies management report over 75 years. (shrink)

The relationship between entrepreneurship and ethics has largely been characterized as antithetical. In this article we develop a conceptual model integrating pragmatism, a philosophical approach that emphasizes experimentation and action characteristic of entrepreneurial leadership, with ethics to suggest that the two are not incompatible and that sustaining entrepreneurial leadership for value creation necessitates ethical action to build legitimacy. Case studies from the United States and India highlight the necessity of infusing pragmatism with ethics for sustainable entrepreneurial leadership.

A relatively small segment of business, known as social entrepreneurship (SE), is increasingly being acknowledged as an effective source of solutions for a variety of social problems. Because society tends to view "new" solutions as "the" solution, we are concerned that SE will soon be expected to provide answers to our most pressing social ills. In this paper we call into question the ability of SE, by itself, to provide solutions on a scope necessary to address large-scale social issues. SE (...) cannot reasonably be expected to solve social problems on a large scale for a variety of reasons. The first we label the orga nizational legitimacy argument. This argument leads to our second argument, the isomorphism argument. We also advance three other claims, the moral y political and structural arguments. After making our arguments, we explore ways in which SE, in concert with other social institutions, can effectively address social ills. We also present two examples of successful ventures in which SEs partnered with governments and other institutions. (shrink)

In this article I argue that the dominant discourse of our day is econ omic universalism. This has translated comfortably from modernity to postmodernity. Within this discourse real differences and inequalities are homogenized by narratives such as those of choice and diversity. I shall question this in two ways: first, by borrowing from French post- structuralism to rename the discourse a 'masculine economy', and thus to invoke a 'feminine economy' both as a philosophical structure of difference and as a deliberate (...) introduction of the body; second, by analysing economic narratives concerning women's work which tend to flatten out difference altogether or recast it as (well-advised) choice. Within this economic language game, I shall try to emphasize material differences and inequalities, in other words, I shall borrow from the language of opposition. I claim that only the asymmetrical oscillation between difference and opposition can attempt to prevent either one falling back into some kind of more or less comfortable universalism. (shrink)