The leading academic in Spanish Business Ethics offers a brief history of his subject in Spain and reflects on the evolution taking place in the 1990s. Professor Argandoña is Secretary General of IESE in Barcelona, the International Graduate School of Management of the University of Navarra, Av. Pearson 21, 08034 Barcelona, Spain. He is also a member and Honorary Treasurer of the European Business Ethics Network and an Associate Editor of this Review.