In this article, we shall attempt to lay down the parameters within which the practice of the virtues may be enabled in the field of finance. We shall be drawing from the three main sources, Aristotle, Catholic Social Teaching and MacIntyre, on which virtue ethics is based. The research question is what ought to be done for financial activities to truly contribute to eudaimonia or human flourishing, to the achievement of three distinct kinds of goods as required of virtue, “those (...) internal to practices, those which are the goods of an individual life and those which are the goods of the community”, and to “[help] man on the path of salvation” in the midst of complex network of relationships in modern societies. These parameters could then be taken as conditions financiers ought to fulfill in order to live the virtues in their work and across different life spheres. (shrink)

What contributions could we expect from Catholic Social Teaching (CST) on human dignity in relation to the dignity of work? This essay begins with an explanation of CST and its relevance for secular audiences. It then proceeds to identify the main features of human dignity based on the notion of imago Dei in CST. Next comes an analysis of the dignity of work in CST from which two normative principles are derived: the precedence of duties over rights and the priority (...) of the subjective dimension of work over the objective dimension. Afterwards, the “right to work” and the “rights of workers” are engaged with from this normative perspective, particularly within the context of globalization. (shrink)

This article presents the ethical concept of service as a way of specifying higher ethical principles in business practice. We set out from the work of a number of scholars who have found some shared ethical principles for doing business in a context of cultural diversity. Love, benevolence, consideration, and other related concepts are considered to be important guiding concepts for business but it is not clear how they are to be operationalized. We argue that the ethical concept of service (...) can act as a bridge for bringing those higher principles into business practice. The article explains and refines the ethical concept of service, which has received little attention. In particular, we address the ethical ambiguity implicit in the common meaning of service, explain how service shows love in business, and offer an account of how service provides ethical growth through virtue. Finally, this work presents a variety of examples from business which illustrate how the ethical concept of service can be put into practice. To achieve the aim of this study we draw inspiration from Catholic social teaching. This source provides useful insights into service and can be understood and accepted without requiring that particular faith. (shrink)

This article addresses the service of financial companies to society from the perspective of the Catholic Social Teaching (hereinafter CST), specifically regarding conflicts of interest between banks and their customers. The article begins with a case based on interviews with professionals in the financial sector, which provides the context for the CST’s contribution. The analysis of the aforementioned conflicts points to an apparent disconnect between service to society and service to customers. Thus, the bank would set aside the customer’s interests (...) in exchange for a better service to society through good results. This article presents the CST’s normative framework to analyze this matter through some of the CST’s principles: the centrality of the person, the respect for her dignity, and the orientation to the common good. These principles and the CST’s ethical concept of service provide guidance in assessing these conflicts of interest. From an ethical point of view and according to CST, there cannot be a true service to society if the dignity of the client is not respected. It is necessary to review the organization’s incentive policy and level of awareness about the importance of customer service. We end with recommendations related to conflicts of interest with clients. (shrink)

Although work–family conflict is highly relevant for both families and businesses, scarce attention has received from business ethics perspective. This article focuses on the latter, presenting a set of relevant insights from Catholic Social Teaching (CST). After reviewing the foundations and principles presented by CST regarding work–family relationships, a set of normative propositions are presented to develop work–family policies and for a correct personal work–family balance. It is argued that business responsibility with employees’ family should be considered as a part (...) of Corporate Social Responsibility. In addition, the applications of these principles and propositions can lead to a mutual enrichment of both business and family. (shrink)

We explore offshore outsourcing through the lenses of Catholic Social Teaching (CST). First, we review the outcomes of the 30-year debate in business ethics on issues related to offshore outsourcing. We then cluster authors into two groups—the justice-centered approach and the welfare-centered approach—corresponding to different perspectives on the ethical challenges of offshoring. In the second part, we present and apply the four fundamental principles of the CST (human dignity, subsidiarity, solidarity and the common good) to offshoring, in dialogue with the (...) previous debate. The unity and interconnection among the CST’s fundamental tenets provide a cohesive framework that integrates the points made by the justice-centered and welfare-centered approaches, while introducing the principle of solidarity, more focused on the worker as a person and their flourishing. CST also stresses the need to initiate processes oriented toward structural changes for the sake of human dignity and the common good. (shrink)