This paper discusses the economic, legal, moral, and political difficulties in developing drugs for the developing world. It argues that large, global pharmaceutical companies have social responsibilities to the developing world, and that they may exercise these responsibilities by investing in research and development related to diseases that affect developing nations, offering discounts on drug prices, and initiating drug giveaways. However, these social responsibilities are not absolute requirements and may be balanced against other obligations and commitments in (...) light of economic, social, legal, political, and other conditions. How a company decides to exercise its social responsibilities to the developing world depends on the prospects for a reasonable profit and the prospects for a productive business environment. Developing nations can either help or hinder the pharmaceutical industry’s efforts to exercise social responsibility through various policies and practices. To insure that companies can make a reasonable profit, developing nations should honor pharmaceutical product patents and adhere to international intellectual property treaties, such as the Trade‐Related Aspects of Intellectual Property Rights agreement. To insure the companies have a good business environment, developing nations should try to promote the rule of law, ethical business practices, stable currencies, reliable banking systems, free and open markets, democracy, and other conditions conducive to business. Overall, this paper advocates for reciprocity and cooperation between pharmaceutical companies and developing nations to address the problem of developing drugs for the developing world. In pursuing this cooperative approach, developing nations may use a variety of other techniques to encourage pharmaceutical companies to act responsibly, such as subsidizing pharmaceutical research, helping to design and implement research protocols, providing a guaranteed market, and bulk buying. (shrink)

A diverse set of expert voices from the Global North and South - philosophers, economists, policy and development scholars and practitioners - explore two themes central to development ethics: agency and democracy. Established luminaries in development ethics engage with the book's themes alongside fresh voices on the way to becoming familiar figures in the field. Their essays work within diverse areas of development studies, including human security and human rights, democratic governance in theory and practice, the (...) capability approach, gender and development, and applied and theoretical critiques of the philosophical underpinnings of various accounts of development. The result is a varied and comprehensive discussion of current work in development ethics that significantly advances our understanding of theoretical and practical work of development. This book will interest students, scholars, and practitioners of global justice, human rights, international development and political philosophy. (shrink)

The primary aim of the text is to introduce the reader to the relationship between economics and ethics and to the application of economic ethics in the evaluation of the market. The reader will gain insight into: * The ethical and methodological strategy of economics and criticism of the core assumptions that underpin the economic defense of free market operation. * The characteristics of different ethical theories (utilitarianism, duty and rights ethics, justice and virtue ethics) that (...) can be used to evaluate the free market. * How to apply economics in conjunction with ethical theories to evaluate economic trends and policies that promote the free operation of the market and are subject to public debate. These insights will help to develop the reasoning and analytical skills needed to criticize economic analysis as well as to apply ethical concepts to moral issues in economic policy. (shrink)

Much existing economic theory overlooks ethics. Rather than situating the market and values at separate extremes of a continuum, Ethics and the Market contends that the two are necessarily and intimately related. This volume brings together some of the best work in the social economics tradition, with contributions on the social economy, social capital, identity, ethnicity and development, the household, externalities, international finance, capability, and pedagogy. Proceeding from an examination of the moral implications of markets, the book (...) goes on to explore such themes as the institutional arrangements of social economies, individual and household decision-making, and economic development in a global context. Ethics and the Market illuminates the diverse and dynamic theoretical approaches that are employed in social economics, reflecting on their continuously evolving relationship with neoclassical economics. This book will prove vital reading for students and academics in the fields of Economics, Sociology, Gender Studies, and Public Policy. (shrink)

Shows how international biomedical researchers in Sri Lanka work across cultural, epistemic, economic, and power differences to accomplish clinical trials.

Mankind is faced with a number of serious problems that demand an effective solution. The prevalence of injustice and the frequency of financial crises are two of the most serious of these problems. Consisting of an in-depth introduction along with a selection of eight of Muhammad Umer Chapra's essays--four on Islamic economics and four on Islamic finance--this timely book raises the question of what can be done to not only minimize the frequency and severity of the financial crises, but also (...) make the financial system more equitable. The author considers the origins of Islamic economics and outlines its development and underlying principles. He compares the approach taken to ethics and economics in Islam with that taken in the West, considering whether lessons can be applied to the global financial architecture in order to mitigate against financial crises. The book also examines the case against interest and looks at both innovation in Islamic finance, as well as challenges facing the industry. Written by a leading authority in the field, this book will be a stimulating resource for students and researchers in Islamic economics and finance, as well as providing valuable insight to all of those with an interest in financial systems and their interaction with society. (shrink)

Faced with the exponential development of Big Data and both its legal and economic repercussions, we are still slightly in the dark concerning the use of digital information. In the perpetual balance between confidentiality and transparency, this data will lead us to call into question how we understand certain paradigms, such as the Hippocratic Oath in medicine. As a consequence, a reflection on the study of the risks associated with the ethical issues surrounding the design and manipulation (...) of this "massive data" seems to be essential. This book provides a direction and ethical value to these significant volumes of data. It proposes an ethical analysis model and recommendations to better keep this data in check. This empirical and ethico-technical approach brings together the first aspects of a moral framework directed toward thought, conscience and the responsibility of citizens concerned by the use of data of a personal nature. Defines Big Data applications in health Presents the ethical value of the medical datasphere via the description of a model of an ethical analysis of Big Data Provides the recommendations and steps necessary for successful management and governance of personal health data Helps readers determine what conditions are essential for the development of the study of Big Data. (shrink)

A significant voice in encouraging the theoretical development and practical implementation of humanistic management is Pope Benedict XVI. In his Encyclical Letter Caritas in Veritate, published in 2009, he proposed a new humanistic synthesis to realign the economy with its social purpose. The aim of this book is to interpret, comment, and develop aspects of this Encyclical Letter which are significant for economic and business activity and contribute to humanistic management. The authors, specialists in their different fields, provide (...) an interdisciplinary dialogue between their repsective areas and the Encyclical. The first, theoretical, part of the book focuses on the relationship between ethics and economics to advance toward a holistic view of business and managerial activity. The second part is oriented more toward the practical and managerial aspects, and discusses how the Encyclical can contribute to more humanistic ways of management. (shrink)

_International Justice and the Third World_ vindicates belief in global or universal justice, and explores both liberal and Marxist grounds for such belief. It also investigates the presuppositions of belief in development, and relates it to sustainability, to environmentalism, and to the obligation to cancel Third World debt.

Ethics of Inclusion captures fairness and social justice for all from an ethical perspective in our post-pandemic world. The book discusses inequality in Healthcare, Economics & Finance, Education, Digitalization, and the Environment, in order to envision economics of diversity and a transition to a more inclusive society. A wide-ranging approach addresses issues of inequality in access to innovations such as telemedicine and artificial intelligence, economic gains of robotics, and big data insights. A rising performance gap between the finance (...) sector and the real economy opens in the post-COVID-19 era, with system-inherent inequality, given elevated inflation levels and disparate impacts of low interest rate regimes around the globe. Education offers social transfer hubs and inclusion potential for societal advancement and international development. The transition to a greener economy is addressed in an analysis of the Green New Deal and European Green Deal including the Sustainable Finance Taxonomy. The book sets out a hopeful agenda for equality and social justice to deliver a post-pandemic Renaissance. (shrink)

The article considers the issues of modern German political philosophy in accordance with its formation, institutionalization and development. Germany’s political philosophy is analyzed in terms of its interaction with social and practical philosophy. The text states that political philoso- phy belongs to both social philosophy and political science. As a political theory, it is a compo- nent of social theories institutionalized in the modern era. As a political philosophy, it appears as a metatheory of political theory. Political philosophy is (...) also part of practical philosophy, exploring the problems of interaction between ethics and politics and the moral reclamation of the political system of modern society. These issues are themed in the context of the institution- alization of this discipline in the early twentieth century, its transformation into a political reli- gion during National Socialism, the revival after World War II, as well as actualization in such areas of socio-humanitarian sciences as discourse philosophy, functional-system theory of so- ciety, etc. according to the political situation of modern Germany. (shrink)

In four new and nine previously published essays, Joseph Heath provides a compelling new framework for thinking about the moral obligations of economic actors. The "market failures" approach to business ethics that he develops provides the basis for a unified theory of business ethics, corporate law, economic regulation, and the welfare state.

In this topical book, Boudewijn de Bruin examines the ethical 'blind spots' that lay at the heart of the global financial crisis. He argues that the most important moral problem in finance is not the 'greed is good' culture, but rather the epistemic shortcomings of bankers, clients, rating agencies and regulators. Drawing on insights from economics, psychology and philosophy, de Bruin develops a novel theory of epistemic virtue and applies it to racist and sexist lending practices, subprime mortgages, (...) CEO hubris, the Madoff scandal, professionalism in accountancy and regulatory outsourcing of epistemic responsibility. With its multidisciplinary reach, Ethics and the Global Financial Crisis will appeal to scholars working in philosophy, business ethics, economics, psychology and the sociology of finance. The many concrete examples and case studies mean that this book will also prove useful to policy-makers and regulators. (shrink)

What does the history of Christian views of economic life mean for economic life in the twenty-first century? Here Daniel Finn reviews the insights provided by a large number of texts, from the Bible and the early church, to the Middle Ages and the Protestant Reformation, to treatments of the subject in the last century. Relying on both social science and theology, Finn then turns to the implications of this history for economic life today. Throughout, the book (...) invites the reader to engage the sources and to develop an answer to the volume's basic question. (shrink)

On the grounds of the libertarian ethics presented by Murray N. Rothbard, the state is an institution which acts against individuals and whole societies. The state steals money from its citizens (taxes), stands in the way of free market development and controls the economy, thus hindering entrepreneurship. Besides that, the state – through its rules and regulations – limits every man's right to make moral choices. The state is an immoral institution, therefore its citizens have the right to (...) refuse to pay taxes, follow orders, and even – in some circumstances – corrupt civil servants. In this paper we analyse Rothbard’s ethics and look into the arguments of critics of libertarian thought. Practical social and economic solutions that emerge from Rothbard’s point of view are also considered. (shrink)

In Morality and Ethics of War, which includes a foreword by Major General Susan Coyle, ethicist Deane-Peter Baker goes beyond existing treatments of military ethics to address a fundamental problem: the yawning gap that exists between the diverse moral frameworks defining personal identity in a multicultural society on the one hand, and the professional military ethic on the other. Baker argues that overcoming this chasm is essential to minimising the ethical risks that can lead to operational and strategic (...) failure for military forces engaged in today's complex conflict environment. He contends that spanning the gap is vital in preventing moral injury from befalling the nation's uniformed servants. Drawing on a revised account of what he calls 'the Just War Continuum', Baker develops a bridging framework that combines conceptual clarity and rigour with insights from cutting edge psychological research and creates a practical means for military leaders to negotiate the moral chasm in military affairs. (shrink)

Research Ethics in Applied Economics Emphasizing the new challenges posed by the data science revolution, digital media, and changing standards, Research Ethics in Applied Economics examines the ethical issues faced by the applied economics researcher at each stage of the research process. The first section of the book considers project development, including issues of project management, selection bias in asking research questions, and political incentives in the development and funding of research ideas. The second section addresses data (...) collection and analysis, discussing concerns about participant rights, data falsification, data management, specification search, p-hacking, and replicability. The final section focuses on sharing results with academic audiences and beyond, with an emphasis on self-plagiarism, self-promotion, and the importance of achieving policy impact. The discussion and related recommendations highlight emergent issues in research ethics. Featuring case studies from experienced researchers on how they address ethical issues, this book provides practical guidance to both students and experienced practitioners seeking to navigate ethical issues in their applied economics research. (shrink)

This study provides a representation of the broad spectrum of theoretical work on topics related to business ethics, with a particular focus on corporate citizenship. It considers relations of business and society alongside social responsibility and moves on to examine the historical and systemic foundations of business ethics, focusing on the concepts of social and ethical responsibilities. The contributors explore established theories and concepts and their impact on moral behaviour. Together, the contributions offer varied philosophical theories in approaches (...) to business ethics. The book will be a valuable resource for academics and researchers with an interest in the theoretical development of business ethics. -/- Reviews: 'The rapidly expanding business ethics field is often populated by thinly theorised work. This book is a welcome exception. It is also distinctive in that it embraces a clear macro perspective whereas much of the debate is rather stuck at the level of the individual or the organisation. As such the book has a distinctively European flavour and should be considered as an intellectually stimulating collection offering original perspectives on business ethics.' Laura J. Spence, Royal Holloway, University of London, UK -/- 'This book makes an important contribution to our knowledge and understanding of corporations especially in the areas of corporate citizenship and responsibility as well as ethics and economic ethics. In addition the relationship of these areas with the social contract is well argued.' Australian Journal of Corporate Law. (shrink)

This thesis studies some philosophical and ethical issues that economic design raises. Chapter 1 gives an overview of economic design and argues that a crossfertilisation between philosophy and economic design is possible and insightful for both sides. Chapter 2 examines the implications of mechanism design for theories of rationality. I show that non-classical theories, such as constrained maximization and team reasoning, are at odds with the constraint of incentive compatibility. This poses a problem for non-classical theories, (...) which proponents of these theories have not addressed to date. Chapter 3 proposes a general epistemology of economic engineering, which is motivated by a novel case study, viz. the reform of a matching market for medical practitioners. My account makes use of causal graphs to explain how models allow encoding counterfactual information about how market outcomes change if the design of the market changes. The second part of the thesis examines ethical issues. In Chapter 4, I apply tools from matching theory to gain insights into the distribution of refugees, such as among countries of the European Union. There is an ethical trade-off between the fairness of matchings and their efficiency, and I argue that in this context, fairness is the morally weightier criterion. Chapter 5 deals with the ethics of kidney exchange. Against critics, I give two arguments for the implementation of kidney exchange programmes. The first argument is that they are instrumental in meeting a moral obligation, namely to donate effectively. The second is that kidney exchange may increase the motivation for altruistic donations, because the donation of one kidney may trigger > 1 life savings. The final chapter identifies questions for future research and it closes with some thoughts about the future trajectory of economic design. (shrink)

Business, Institutions, and Ethics: A Text with Cases and Readings is the first text to use the analysis of social institutions to examine business ethics. It explains fundamental concepts in ethics and how to apply them to business and economics. The author shows how social institutions are constituted by an integrated set of ethical, economic, and legal principles, and then uses these principles to study the ethics of commerce at the individual, organizational, and market levels. This unique work (...) features thirty-four cases and articles that are organized into economic categories, providing a conceptual unity and flexibility not found in similar texts. The first half of the text focuses on theory, beginning with a case study that illustrates and unifies the theoretical discussions that follow. It examines market institutions, organizational structure, and individual decision making; interprets moral development as a process within institutional settings; and explains egoism, care, utilitarianism, right, and pluralistic ethical theories. It also discusses how economic analyses of markets and firms incorporate ethical principles, and argues that law reinforces ethical and economic aspects of social institutions important to the continued existence and well-being of society. The second half of the text consists of cases and articles organized by the economic categories of property, risk-reward relationships, information, and competition. Topics covered include corporate control, workplace dangers, marketing, and manufacturing relocation. Applicable in both business schools and philosophy departments, Business, Institutions, and Ethics shows how ethical principles can help us gather, sort, and interpret information necessary for making sound business decisions. Ideal for courses in business ethics and business and society, it is also a valuable reference for business professionals and philosophers. (shrink)

Reform of the economic structure is a profound revolution that not only affects every aspect of China's political and economic life but stimulates changes in the way of social life, the mode of thought, and the concepts of social ethics and morality. The relationship between people reflected by these changes is closely related to the basic issues, principles, and standards of morality. Ethically, the changes themselves contain moral issues. The current economic reforms are changing and enriching (...) people's concepts of morality and will doubtless enhance their development. (shrink)

Innovation has become a buzzword that promises dramatic changes in almost every field of business. Absent from this attention is a serious discussion of the ethical sides of dramatic change. To address this, editors Georges Enderle and Patrick E. Murphy gather a team of experts to fully examine the ethics of innovation within business and the economy in this standout addition to the Studies in TransAtlantic Business Ethics series. The book opens with an exploration and clarification of several key (...) concepts necessary for a thorough study of innovation such as business ethics, moral innovation, creativity, and wealth creation. The opening chapters also propose a novel theoretical foundation and methodological approach with which to address ethical innovation. Subsequently, the contributors discuss challenges and opportunities of innovation for individuals, organizations, and systems while zoning in on a wide range of specific examples, including but not limited to: managerial responsibilities, morality and imagination of leaders, as well as the ethics of the Maker Movement. This comprehensive book evaluates organizational innovations from diverse parts of the world including Egypt, India, Latin America, the UK, and the US. Ethical Innovation in Business and the Economy concludes with a presentation of methods for improving economic systems, such as tracing Adam Smith in emerging enterprises, developing a justice model of marketing to the poor, and bridging the formal and informal economies in an African context. This in-depth examination of innovation, and its involvement in the business and economic world, is an invaluable reference tool for students, teachers, and researchers in business and economic ethics, as well as executives in business and other organizations who search for new and more responsible ways to address globalization, sustainability, and financialization. (shrink)

What is the purpose of the economy? To answer this intriguing and fundamental question, this book provides a systematic approach to economic ethics and constructs a relationship between the economy and morality; it expounds theoretical and practical issues of economic philosophy along two dimensions: values and institutions. On the dimension of values, Yuichi Shionoya explores the connections between the economy and morality by reconstructing a coherent system of ethics that coordinates the 'good, right, and virtue'. Based on this (...) system of ethics, the book goes on to discuss the dimension of institutions and presents the philosophy of the welfare state, consisting of a tripartite contemporary institution of 'capitalism, democracy, and social security'. Economy and Morality is a remarkable contribution to economic ethics exploring key philosophical issues including efficiency versus justice and liberty versus excellence. Its unique emphasis is the economics of virtue, which is concerned with the virtuous utilization of economic resources for human development, and applied to the reform of the welfare state. will all find this book of great interest - part of its appeal lying in its interdisciplinary approach to contemporary economic, political and social systems based on the synthesis of moral values. (shrink)

What is, or what should be, the function of sport in a globalized, commercialized world? Why does sport matter in the 21st century? In Ethics and Governance in Sport: the future of sport imagined, an ensemble of leading international experts from across the fields of sport management and ethics calls for a new model of sport that goes beyond the traditional view that sport automatically encourages positive physical, psychological, social, moral and political values. Acknowledging that sport is beset by (...) poor practice, corruption, and harmful behaviors, it explores current issues in sport ethics, governance and development, considering how good governance and the positive potentials of sport can be implemented in a globalized sporting landscape. Ethics and Governance in Sport suggests a future model of sport governance based on well substantiated projections, and argues that identifying the root causes of harmful behavior, those things that are characteristic of sport, and engaging sport managers, policy makers and leaders of sport organizations, is essential if sport is to thrive. The book's interdisciplinary examination of sport, encompassing philosophy, sociology, economics, management and sport development, and its forward-looking approach makes it important reading for advanced students, researchers and policy makers with an interest in the place and development of modern sport. Its clear messages invite self-reflection and discussion, especially within sports organizations. (shrink)

Richard Miller presents a bold new program for international justice. He argues for new standards of responsible conduct by governments, firms, and individuals in developed countries, to govern trade, investment, environmental policy, and the use of force. He offers an urgently needed strategy for moving humanity toward genuine global co-operation.

Ethical dilemmas and value conflicts affect cities globally, but urban leaders and citizens often avoid confronting them directly and instead view the governance of cities as primarily an administrative task or, even worse, a merely political one. Timothy Beatley challenges readers to consider the issues in our cities not simply as legal or economic problems but as moral ones, asking readers 'How can a city become more ethical?' Beatley unearths, exposes, and explores the many ethical (...) questions cities face today and touches on many topics, from privacy and crime to racism and the ethics of public space. Drawing from recent policy debates and using extensive examples to consider complex ethical dilemmas, Beatley argues that cities must expand the definition of the moral community to include all their citizens. Cities must take profound steps to address social injustice and plan for climate change-both moral obligations-and this approachable and readable introduction to moral philosophy, urban planning, and social justice will help new generations to grapple with these global issues. (shrink)

Business, Institutions, and Ethics: A Text with Cases and Readings is the first text to use the analysis of social institutions to examine business ethics. It explains fundamental concepts in ethics and how to apply them to business and economics. The author shows how social institutions are constituted by an integrated set of ethical, economic, and legal principles, and then uses these principles to study the ethics of commerce at the individual, organizational, and market levels. This unique work (...) features thirty-four cases and articles that are organized into economic categories, providing a conceptual unity and flexibility not found in similar texts. The first half of the text focuses on theory, beginning with a case study that illustrates and unifies the theoretical discussions that follow. It examines market institutions, organizational structure, and individual decision making; interprets moral development as a process within institutional settings; and explains egoism, care, utilitarianism, right, and pluralistic ethical theories. It also discusses how economic analyses of markets and firms incorporate ethical principles, and argues that law reinforces ethical and economic aspects of social institutions important to the continued existence and well-being of society. The second half of the text consists of cases and articles organized by the economic categories of property, risk-reward relationships, information, and competition. Topics covered include corporate control, workplace dangers, marketing, and manufacturing relocation. Applicable in both business schools and philosophy departments, Business, Institutions, and Ethics shows how ethical principles can help us gather, sort, and interpret information necessary for making sound business decisions. Ideal for courses in business ethics and business and society, it is also a valuable reference for business professionals and philosophers. (shrink)

Many reports independently confirm that even more than a quarter of a century after the collapse of the Soviet Union, the results of research and development in those countries that were under its influence are insufficient in comparison to the rest of the world. Given that human intelligence is not distributed unevenly and that science is a powerful driving force for the future of an economy, there is a hidden problem, which, if it can be resolved, may release great (...) economic potential. The first generation of researchers from Armenia, Czech Republic, Georgia, Slovakia and Ukraine, who successfully completed their education after the political revolution, were surveyed. The survey revealed many similarities with regards to ethics, but that there is mounting evidence that the main cause of the current situation is the state of the local legal systems. The conclusion was drawn that a conceptual change in staffing within the relevant legal systems is required to release potential and stimulate wealth creation. (shrink)

Critical Realism and the Objective Value of Sustainability contributes to the growing discussion surrounding the concept of sustainability, using a critical realist approach within a transdisciplinary theoretical framework to examine how sustainability objectively occurs in the natural world and in society. The book develops an ethical theory of sustainability as an objective value, rooted not in humans' subjective preferences but in the holistic web of relationships, interdependencies, and obligations existing among living things on Earth, a web believed to have (...) maintained life on Earth over the last 3.7 billion years. It proposes three pillars of sustainability ethics: contentment for the human existence given to us; justice (beyond distributive justice); and meaningful freedom (within ecological and moral limits). Using abductive reasoning, the book infers that there is an out-of-this-world Sustainer behind the Earth's sustainability acting as a metaphysical source of all being and value. It argues that sustainability value, accepted as a shared understanding of the common good, must guide individual decisions and socio-economic development efforts as a matter of deliberate choice, as well as be built on the awareness that there are non-negotiable, pre-established conditions for our planet's sustainability. This book will be of interest to students and scholars across fields of inquiry, including sustainability, sustainable development, environmental philosophy and ethics, philosophy of science, ecological economics, and to whoever may wonder why seasons exists and why humans have creative minds. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Kantian Ethics and Economics: Autonomy, Dignity, and CharacterIvan A. BoldyrevMark D. White. Kantian Ethics and Economics: Autonomy, Dignity, and Character. Stanford, CA: Stanford University Press, 2011. Pp. xi + 270. Cloth, $55.00.This remarkable book provides a new ethical perspective for economics based on Kantian ethics of autonomy and dignity. There are two main messages in it that I find particularly important. First, Mark White derives from Kant (...) the idea of irreducible moral principles that govern the behavior of economic agents independently of welfarist and, more generally, consequentialist concerns. These principles of duty and the “incomparable worth” (21) of human dignity, as well as justice or rights, may not be economically traded off against some other motivations; hence, they simply evade economic reasoning altogether.Second, White endorses a version of libertarian Kantianism that treats people as individuals in essence (“autonomous”) and social in orientation (respecting the rights and the choices of the others). In discussing individualism, White attacks the conventional wisdom of economics and claims that preferences alone do not account for the identity of individuals [End Page 298] in space and time, although their unique characters do. Persons should be given free choice (absent in deterministic rational-choice models) and hence responsibility for their choices that incorporates the social factors in decision-making. However, White never mentions the almost insurmountable difficulties associated with fleshing out the truly individual features of a given person. Although he allows for a person’s identity and character changing over time, he does not recognize that character itself is in many respects a social construction.White criticizes paternalistic economic policies that suggest manipulating choice environments in order to follow the “true” preferences of the individuals. Instead, real consent, as satisfying both relevant preferences and principles (e.g. rights and human dignity), is, in his view, the sole criterion for justifying particular policy measures—not Pareto-efficiency or Kaldor-Hicks compensation. Economists’ obsession with efficiency leading to the misconceived notions such as “efficient level of crime” or “manageable level of terrorism” is also severely criticized.For White, the most popular formalistic version of the categorical imperative is less important than the other two—prohibiting treating other people simply as means and instituting the “Kingdom of Ends.” Formalism is reserved merely for the negative evaluation of actions and providing strict perfect duties that give clear guidance concerning what should not be done. White’s “Kantian-economic” model of decision-making incorporates perfect duties as constraints, and imperfect (positive) duties as preferences. He also stresses that for Kant, duties derived from the imperative depend on empirical knowledge, the context of decision-making, and judgment as a unique personal interpretation of the moral law. He further emphasizes the intersubjective role of Kantian morality: moral law should be universalizable to all rational persons (the “Kingdom of Ends” formula of the imperative), whereas rationality means not just following the patterns of behavior developed in the preference-oriented choice model, but rather acting on one’s beliefs and desires or choosing not to follow them, thus exhibiting genuine autonomy.The new and important contribution to the discussion is an explicit treatment of will as an inner faculty that, together with judgment, constitutes a person’s character or “self,” and helps to overcome the mere inclination to follow duty. Will is the missing link between decision and action and should be “well-trained” for bringing about true morality.The book is clearly written, and the author has upheld the interdisciplinary appeal of the topic, demonstrating an outstanding knowledge of the vast literature on ethics (both Kantian and not) and economics. White’s emphasis on the irreducibility of moral principles is absolutely relevant for current economic and political debates. However, some reservations are in order.There is an ambiguity concerning the status of his analysis. If in its positive aspect White’s recommendations for economists is to accept the Kantian vision of morality, then almost no arguments are given for this, and his modifications of the standard choice model are introduced in an ad hoc manner, just to reconcile it with the Kantian framework. Are an individual’s decisions to act on principles and to overcome mere inclinations really... (shrink)

This essay outlines the moral dilemma of funding orphan drug research and development. To date, ethical aspects of priority setting for research funding have not been an issue of discussion in the bioethics debate. Conflicting moral obligations of beneficence and distributive justice appear to demand very different levels of funding for orphan drug research. The two types of orphan disease, rare diseases and tropical diseases, however, present very different ethical challenges to questions about allocation of (...) research funds. The dilemma is analysed considering utilitarian and rights based theories of justice and moral obligations of non-abandonment and a professional obligation to advance medical science. The limitations of standard economic evaluation tools and other priority setting tools used to inform health policy decision makers on research funding decisions are outlined. (shrink)

Moral pragmatism has been largely ignored in Business Ethics, despite its natural attraction and the fact that it is prominent in philosophy and socio-economic theories. The main premise of the book is that the complexity of today's business world does not permit a grand ethical theory, notwithstanding the different attempts made by scientists. Moral pragmatism is the 'go-to' approach where the ethical decision-making of managers varies dependent on different circumstances but it always integrates moral (...) considerations. Ethical decision-making is no longer based simply on known rules, but entails the constant dynamic interaction of circumstances, the development of new rules, managers' past experiences, their knowledge concerning ethics, and skills of moral reasoning. This book interweaves the postmodern approach to management studies and, based on its innovative research, reintroduces moral pragmatism in Business Ethics. The combination of decision-making theories, philosophy and postmodernism paves the way for future novel research in Business Ethics, making it an excellent resource for researchers, academics, and advanced students in the field of Business Ethics. Practitioners, on the other hand, will benefit by improving their skills in ethical decision-making and leadership. (shrink)

This book shows through argument and numerous policy-related examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral philosophy together can inform public policy. Part I explores the idea of rationality and its connections to ethics, arguing that when they defend their formal model of rationality, most economists implicitly espouse contestable moral principles. Part II addresses the nature and measurement of (...) welfare, utilitarianism and cost-benefit analysis. Part III discusses freedom, rights, equality, and justice - moral notions that are relevant to evaluating policies, but which have played little if any role in conventional welfare economics. Finally, Part IV explores work in social choice theory and game theory that is relevant to moral decision making. Each chapter includes recommended reading and discussion questions. (shrink)

With almost unmatched sociocultural diversity, South Africa is an ideal melting pot for the great unity-in-diversity experiment of Universal Dignity. If the disparate people of planet earth have any fighting chance of averting the looming dystopian existential crisis inherent in unsustainable development, the hopes thereof begin in the South. Identity-based polarisation and its attendant torment of destructive strife must be exchanged for a mutually beneficial ethos of fulfillment, that truly 'leaves no one behind.' This volume offers meaningful pathways to (...) this haven of 'Ubuntu'. (shrink)

This book provides an introduction to the relationship between economics and ethics, explaining why ethics enters economics, how ethics affects individual economic behavior and the interactions of individuals, and how ethics is important in evaluating the performance of economies and of economic policies.

Considering the lack of substantive scientific or theoretical studies about ethics in small and medium sized enterprises (SMEs) in Latin America, this paper examines the context of an existent paradox, based upon the perspective of experts and academicians of Latin America and the Caribbean. These countries live different realities, due to their respective European cultural influences, as well as to racial and economic issues. Such facts impact the size and characteristics of their industries. On the other hand, the SMEs (...) face more similarities in the region, so they will be treated as a group in the discussion of ethics and corporate social responsibility (CSR) in Latin American SMEs. As this topic has not been sufficiently investigated in this geographic area, the objective of this exploratory study is to offer a contribution for future research. It raises the main dilemmas and intends to explain how legislation and common practices enable and perhaps lead SMEs to choose unethical strategies to survive and compete in the market. These enterprises are growing in number and in job creation, but do not participate in the Gross National Product in the same proportion. Informality, tax evasion and corruption are gradually caused or erode morality in business, but can contribute to corporate social responsibility in the region. The paper tries to show positive and negative aspects of apparently unethical practices and discusses challenging ways to solve complex problems that are common in most Latin America. (shrink)

The idea of finance -- Theological-ethical critique of accounting -- The ontology of moral hazard in finance -- Faith has a rate of return -- The knot of finance -- A political theology of market miracles -- Care of the soul: resistance to finance capital as virtue.

Is it really all about greed, money, and shareholder value? Seven Management Moralities examines management's moral behaviour from seven different perspectives. These are derived from Kohlberg's development of human morality.

This book introduces a study of ethics and values to develop a deeper understanding of markets, business, and economic life. Its distinctive feature is its thorough integration across personal and institutional perspectives; across applied ethics and political philosophy; and across philosophy, business, and economics. Part I studies markets, property rights, and law, and introduces normative theories with many applications. ¿Part II examines the purpose of corporations and their responsibilities. Parts III and IV analyze business and economic life through (...) the ethics and values of welfare and efficiency, liberty, rights, equality, desert, personal character, community, and the common good. This Second Edition maintains the strengths of the First Edition ¿ short, digestible chapters, and engaging writing that explain challenging ideas clearly. The material is user-friendly, with an emphasis on a strong theoretical core. Easily adaptable to the instructor¿s teaching, the chapters are separable and can be shaped to the interests of the instructor with suggested course outlines and flexible application to case studies. This text is designed both for coursework in Business Ethics as well as interdisciplinary programs in Philosophy, Politics, Economics, and Law. This Second Edition: Expands presentation of eight normative theories, with increased emphasis on links between these theories and business and economic life Incorporates recent scholarship on shareholder / stakeholder debates about the purpose of corporations, bringing this important topic up to date Includes a new streamlined Preface/Introduction that provides a quick overview of the book before smoothly guiding the reader to the first chapter Uses updated examples and applications for today¿s readers Revamps a useful Appendix, including enhancing the popular primer on ethics Introduces a List of Further Readings at the end of each chapter and notable biographies throughout, directing students to the most promising literature for further research Includes a new ending chapter on the value of an ethical life. (shrink)

Public goods, as well as commercial commodities, are affected by exclusive arrangements secured by intellectual property (IP) rights. These rights serve as an incentive to invest human and material capital in research and development. Particularly in the life sciences, IP rights regulate objects such as food and medicines that are key to securing human rights, especially the right to adequate food and the right to health. Consequently, IP serves private (economic) and public interests. Part of this charge claims (...) that the current IP regime is privatizing the very building blocks of research and development – that used to be part of the commons. The public domain, in contrast to the private domain, may be the locus of much more diverse forms of creativity that at the same time ensures a wider plurality of productive traditions. An IP regime must support a sense of public morality because it is dependent upon civil support. This inevitably prompts questions of what are “good” exclusive rights and what are “bad” exclusive rights, and how shall such IP rights be developed. We argue that the democratization of the current IP regimes is an important first step to respond to these issues. (shrink)

He addresses three main issues: first, the historical means by which economics has consciously surrendered its original association with ethical categories and criteria; second, the need to articulate the appropriate thoughtforms and vocabulary of ethical theory; and third, the illustration of areas in economics where ethical awareness is desirable and should be allowed to exert influence.

The purpose of this article is to provide viewpoints and discussion of a variety of potentially problematic aspects and mechanisms regarding academic publishing in relation to economical and ethical issues. Starting with the establishment of wide-scale internet access in the beginning of the 21st century, a considerable increase of plagiarism and more sophisticated forms of academic fraud, expanded infrastructure of academic publication channels and forms, combined with strong tendencies of concentration in terms of research disciplines and outlets have now (...) led to certain undesirable developments. Next to the general business model operating according to these parameters, the purpose, reliability and authenticity of circulated rankings and grading systems of academic publishers as well as citation indexes will be critically discussed in relation to new open access possibilities that start to question the outdated structures of the established system. (shrink)

This work examines Japanese government policies that impact on the environment in order to determine whether they incorporate a sufficient ethical substance. In the enquiry into the ethics of the policies, Kagawa-Fox explores how Western philosophers combined their theories to develop a 'Western environmental ethics code'; she also reveals the existence of a unique 'Japanese environmental ethics code' built on Japan's cultural traditions, religious practices, and empirical experiences. The discovery of the distinctive Japanese code is not only important for (...) what it discloses as a new philosophy, but most importantly how it can be used to analyse the ethical framework of the Japanese policies. In spite of the positive contributions that Japan has shown towards the global environment, the government has failed to show a corresponding moral obligation to the world ecology in its global environmental policy. The policies examined in the three case studies comprising whaling, nuclear energy, and forestry, have also been found wanting in ecological ethical considerations, both from a Western and Japanese perspective. The main reason for this is that the integrity of the policies has been compromised by Japanese vested interest groups; business and political interests ensure that the policies are primarily focused on maintaining sustainable economic growth. Whilst Japan's global environmental policy initiatives are the key to its economic survival into the 21st century, and these initiatives may achieve their aim, they do however fail the Japanese code of environmental ethics."--Publisher's description. (shrink)