"Case notes." Ethos: Official Publication of the Law Society of the Australian Capital Territory, (199), pp. 34–35.

The concept of natural capital denotes a rich variety of natural processes, such as ecosystems, that produce economically valuable goods and services. The Anthropocene signals a diminished state of nature, however, with some scholars claiming that no part of the Earth’s surface remains untouched. What are ecological economists to make of natural capital during the Anthropocene? Is natural capital still a coherent concept? What is the conceptual relationship between nature and natural (...) class='Hi'>capital? This article wrestles with John Stuart Mill’s two concepts of nature and argues that during the Anthropocene, natural capital should be understood as denoting economically valuable processes that are not absolutely—but relatively—detached from intentional human agency. (shrink)

Many ecological economists have argued that some natural capital should be preserved for posterity. Yet, among environmental philosophers, the preservation paradox entails that preserving parts of nature, including those denoted by natural capital, is impossible. The paradox claims that nature is a realm of phenomena independent of intentional human agency, that preserving and restoring nature require intentional human agency, and, therefore, no one can preserve or restore nature (without making it artificial). While this article argues that (...) the preservation paradox is more difficult to resolve than ordinarily recognized, it also concludes by sketching a positive way to understand what it means to preserve natural capital during the Anthropocene. (shrink)

Interest in the concept of natural capital stems from the key role which this concept plays in certain attempts to elucidate the goal of sustainable development—a goal which currently preoccupies environmental policy-makers. My purpose in this paper is to examine the viability of what, adapting an expression of Bryan Norton's, may be termed the ‘social scientific approach’ to natural capital . This approach largely determines the way in which environmental concern is currently being represented in the (...) environmental policy community. (shrink)

At the time of its introduction in the end of the 1980s, the concept of natural capital represented new, more ecologically aware thinking in economics. As a symbol of novel thinking, the metaphor of natural capital stimulated a debate between different disciplinary traditions on the definitions of the concept and research priorities and methods. The concept became a means to control the discourse of sustainable development. In this paper, I focus on the power/ knowledge implications of (...) the use of the concept, and I follow the career of the concept of natural capital in ecological economic publications between the years 1988 and 2000. The main interests are in the use of the concept to affect the rules according to which claims concerning sustainable development can be made and in the constitution of objects of environmental knowledge. (shrink)

This book offers a bold new theoretical understanding of the current ecological crisis via the Frankfurt School. Focusing on key notions of dialectics, natural history, and materialism, a critical theory of nature is outlined in favor of a more traditional Marxist theory of nature, albeit one which still builds on Marxist concepts to confirm humanity's centrality in manufacturing environmental misery. Pre-eminent thinkers including Georg Lukács, Ernst Bloch, and Theodor Adorno are highlighted for their potential to diagnose the interpenetration of (...) capitalism and nature in a way that neither absolutizes nor obliterates the boundary between the social and natural. (shrink)

Modern science has undoubtedly become one the principal engines of economic growth, even though the epistemological status of scientific knowledge has been continuously contested. Leaving the philosophical problem of knowledge aside, this paper examines how scientific discovery contributes to the production of wealth. The analysis focuses on a recent achievement at the crossroads of chemistry, immunology and biotechnology: antibody catalysis. For this purpose, we develop a model of entrepreneurial work to explain how the discovery of natural products and processes (...) generates new economic opportunities. The proposed model is based on the assumption that scientists believe that the natural environment is a repository of 'natural capital'. Natural capital includes goods that are not made by humans but can be used to produce other goods and services. The belief in natural capital induces scientists to search for and identify a natural property that, in the specific cultural context of their work, is recognized as a valuable resource. The selection of such a property forms the initial phase of the discovery process. Certain research methods are then deployed to create novel empirical conditions within which the selected property is transformed into a specific good. The discovery of natural capital thus comprises a historically accountable entrepreneurial endeavour. (shrink)

Ecological economics is an interdisciplinary science that is primarily concerned with developing interventions to achieve sustainable ecological and economic systems. While ecological economists have, over the last few decades, made various empirical, theoretical, and conceptual advancements, there is one concept in particular that remains subject to confusion: critical natural capital. While critical natural capital denotes parts of the environment that are essential for the continued existence of our species, the meaning of terms commonly associated with this (...) concept, such as ‘non-substitutable’ and ‘impossible to substitute,’ require a clearer formulation then they tend to receive. With the help of equations and graphs, this article develops new definite account of critical natural capital that makes explicit what it means for objective environmental conditions to be essential for continued existence. The second main part of this article turns to the question of formally modeling the priority of conserving critical natural capital. While some ecological economists have maintained that, beyond a certain threshold, critical natural capital possesses absolute infinite value, absolute infinite utility models encounter significant problems. This article shows that a relative infinite utility model provides a better way to model the priority of conserving critical natural capital. (shrink)

This dissertation undertakes a philosophical analysis of “natural capital” and argues that this concept has prompted economists to view Nature in a radically novel manner. Formerly, economists referred to Nature and natural products as a collection of inert materials to be drawn upon in isolation and then rearranged by human agents to produce commodities. More recently, nature is depicted as a collection of active, modifiable, and economically valuable processes, often construed as ecosystems that produce marketable goods and (...) services gratis. Nature is depicted as consisting of various unproduced mechanisms or “natural machines” that are first discovered and then channeled so as to serve human ends. In short, nature as an ideal is a kind of garden that is characterized by natural objects purposefully arranged by intentional human agents. This dissertation first lays out working definitions of the key terms, such as capital and Nature, and then traces the historical roots of natural capital in the writings of eminent classical political economists, such as Adam Smith, John Stuart Mill, and Karl Marx. I then examine the question of substitutes for “critical natural capital”, and argue that the preservation paradox is warranted: no one can restore or preserve a part of Nature without turning it into an artifact. Following the recent work of Debra Satz and Michael Sandel, I finish my dissertation by situating the question of natural capital in the broader context of whether some goods should not be for sale, particularly those I define as Basic Ecological Goods. (shrink)

This dissertation undertakes a philosophical analysis of “natural capital” and argues that this concept has prompted economists to view nature in a radically novel manner. Formerly, economists referred to nature and natural products as a collection of inert materials to be drawn upon in isolation and then rearranged by human agents to produce commodities. More recently, however, nature is depicted as a collection of active, modifiable, and economically valuable processes, often construed as ecosystems that produce marketable goods (...) and services gratis. Nature consists of various unproduced mechanisms or “natural machines” that are first discovered and then channeled so as to serve human ends. In short, nature as an ideal is a kind of garden that is characterized by natural objects purposefully arranged by intentional human agents. (shrink)

Ecological concern has recently prompted efforts to assess the economic value of ecological functions: the “work of nature” must no longer be taken for granted as a free amenity, but priced and accounted for as “natural capital.” Critiques of this approach tend to defend nature’s intrinsic value against intrusions of economic logic, but fail to articulate a compelling politics in response. I here argue that nature ought indeed to be brought in to the realm of political economy, but (...) question the category of natural capital: instead, extending the insights of feminist theorists regarding undervalued forms of production, I articulate an expanded idea of hybrid labor that understands the “work of nature” as a collective, distributed undertaking of humans and nonhumans acting to reproduce, regenerate, and renew a common world. This approach poses the value of nature as inherently political and suggests the potential for new forms of more-than-human politics. (shrink)

This paper examines the ancient Judeo-Christian worldview to provide a link between individual and societal attitudes and sustainable human welfare. This “moral ecology” links the welfare of the entire created order to human justice, or right living. Environmental degradation, poverty, and oppression all stem from humans grasping for control. To examine how these attitudes may affect material human welfare the paper develops the concept of natural systems as natural multiproduct factories, showing how they interact with other productive resources (...) to improve human material well-being. Maintaining or increasing such well-being depends upon creating a balance between these natural factories and human-derived inputs within a spatial context. Achieving balance, as well as overall human welfare, is shown ultimately to depend upon the attitudes of people toward one another and toward the rest of creation, indicating that the basic Hebrew perspective under girding western civilization has much to offer as a frame of analysis. (shrink)

There is a wealth of resources— ideas, insights, discoveries, inventions, traditions, cultures, languages, arts, religions, sciences, narratives, stories, poems, customs and norms, music and songs, games and personal experiences, and advertisements—that we produce, curate, consume, transmit, and inherit as humans. This wealth, which I define as semantic capital, gives meaning to, and makes sense of, our own existence and the world surrounding us. It defines who we are and enables humans to develop an individual and social life. This paper (...) discusses the shift from analog to digital semantic capital, and the extent to which this might affect the semanticisation of our identities, our lives and our realities. -/- . (shrink)

El emprendimiento es considerado una estrategia de desarrollo. Esta investigación tiene el objetivo de discutir la importancia que tienen los emprendimientos indígenas en sus localidades y la relación que encuentran estos impulsos empresariales con el crecimiento económico; para lo anterior, se utiliza un método hermenéutico con énfasis en la literatura temática sobre el emprendimiento en comunidades indígenas. Los principales resultados expresan que los emprendimientos indígenas son creadores de capital social y respetuosos del ecosistema natural y adicionan valor al (...) integrar en sus productos y/o servicios caracteres particulares de sus culturas, teniendo sucesiva actividad en los sectores de producción primario. (shrink)

Economic and social activities are undergoing radical changes, which can be labelled as ‘knowledge economy and/or society’. In this sense, intellectual capital, or knowledge assets, as the fourth factor of production, is replacing the other ones – job, land and capital. This article tries to offer the origins and nature of the firm’s IC that can be labelled as ‘An Intellectual Capital-Based View of the Firm Competition’. This framework tries to highlight the strategic role of different intangible (...) assets like talented and committed workers, cultural values, or long-term relationships among the firm and its stakeholders – customers, allies, suppliers and society in general – in gaining and sustaining competitive advantages, being the management of IC a key issue in the management agenda. (shrink)

Marx’s concept of bird-freedom or Vogelfreiheit— drawn from German legal history in which it meant “outlaw status” — describes the situation of free labor as “doubly free”: not enslaved as well as landless. The metaphorical valences of his satirical emphasis on the cynicism of the idea of “free labor” returns in many of Marx’s other satirical reworkings of concepts which refer to the state of nature. This essay looks at two such concepts engaged in explaining the process of “primitive accumulation” (...) in Capital, Volume 1: the notion of the idyll (“idyllic relations” or “idyllic proceedings”) and the notion of outlawry as “bird-freedom.” The essay exemplifies the ways in which both moments constitute “natural-historical images,” in Theodor Adorno’s terms: a concept of hybridity, historical texture, and transition that might add to the scholarship on Marx’s philosophy of nature. (shrink)

A vast literature has been devoted to the Dialectics of Nature and dialectics in Capital. There is a considerable number of works in which the connection between the philosophical generalization of natural science in the Dialectics of Nature and the philosophical aspects of the economic categories in Capital are analyzed. I should like to touch upon only one aspect of the problem — that aspect which pertains to certain new problems in philosophical and economic thought. Reference is, (...) first, to the new, unprecedented role of philosophy and natural science in the period of the scientific and technological revolution under the conditions of the unification and planning of science and, second, to the unprecedented dynamism of the economy today. This dynamism requires a radical rethinking of categories, and that rethinking, in turn, requires a return to the fundamental categories of Capital. (shrink)

A vast literature has been devoted to the Dialectics of Nature and dialectics in Capital. There is a considerable number of works in which the connection between the philosophical generalization of natural science in the Dialectics of Nature and the philosophical aspects of the economic categories in Capital are analyzed. I should like to touch upon only one aspect of the problem — that aspect which pertains to certain new problems in philosophical and economic thought. Reference is, (...) first, to the new, unprecedented role of philosophy and natural science in the period of the scientific and technological revolution under the conditions of the unification and planning of science and, second, to the unprecedented dynamism of the economy today. This dynamism requires a radical rethinking of categories, and that rethinking, in turn, requires a return to the fundamental categories of Capital. (shrink)

Economic and social activities are undergoing radical changes, which can be labelled as 'knowledge economy and/or society'. In this sense, intellectual capital (IC), or knowledge assets, as the fourth factor of production, is replacing the other ones-job, land and capital. This article tries to offer the origins and nature of the firm's IC that can be labelled as 'An Intellectual Capital-Based View of the Firm Competition'. This framework tries to highlight the strategic role of different intangible assets (...) like talented and committed workers, cultural values, or long-term relationships among the firm and its stakeholders-customers, allies, suppliers and society in general - in gaining and sustaining competitive advantages, being the management of IC a key issue in the management agenda. (shrink)

Debt-ridden corporate growth and increased vulnerability was one of the causes of the 1997 financial crisis in Korea. Introduction of the outside director system has been the core part of the board reforms following the crisis. Our estimation using instruments obtained from a natural experiment illustrates that outside monitoring has improved capital structure of firms even when we control for the leverage regulation effect, enhanced compliance with leverage regulation and thus reduced business risks, and reduced excessive growth and (...) excessive investment more consistently for the top 10 largest chaebols than non-chaebol firms and smaller sized chaebol affiliates. Our results shed some light on why existing studies report the positive effect of outsiders on firm value and add value to existing agency theory by illustrating that the effect of improved governance on capital structure could be non-linear. (shrink)

This article takes inspiration from Allan Sekula’s remarks on New Topographics photography, as well as his own ‘geography lessons’, to interrogate how photographs of ‘man-altered landscapes’ give visual form to the problems of temporality, natural history and historical agency that mark life in the Capitalocene. It proposes that combining Fredric Jameson’s analysis of the way that capital congeals ‘quantities of the past’ into dead labour with Andreas Malm’s diagnosis of our ‘warming condition’ allows us both to diagnose and (...) counter the temptation to a sublime inhumanity that so often haunts contemporary panoramas of ecological devastation. (shrink)

The article investigates the significance of time, the nature of capital, and the role of technological progress in economic processes. The presented analysis of the three economic categories makes use of the theoretical achievements of notable representatives of the Austrian School of Economics, for whom a creative entrepreneur was the main protagonist of the interactions taking place in the economy. The above-mentioned economic categories, taken together, are for him the foundation of human activity. The time factor is of great (...) importance for man – individuals constantly analyse historical events so as to attain success in contemporary economic reality, and in the future. Capital is the basis for economic calculation, which underpins all entrepreneurial activity. Technological progress, which happens in time and requires considerable capital outlay, is the driving force of economic growth. (shrink)

Given the nature and importance of Islamic banks in recent times, we can expect them to have significant intellectual capital anchored in their Sharia‐based knowledge and expertise. However, we know very little or nothing about how and why intellectual capital‐related information is provided in their corporate reports. We fill this gap in our existing knowledge of the field with a view to enhance relevant literature. As far as we know, this article is one of the earliest exploratory attempts (...) to examine intellectual capital reporting practices of an Islamic bank. We have undertaken a longitudinal (2001–2015) case study related to the intellectual capital reporting practices of an Islamic bank. Key results include significant rise of intellectual capital reporting over time, dominance of internal capital‐related items in intellectual capital reporting profile and the dynamics of changes in intellectual capital reporting practices over time. Through an institutional theory lens, we explain that this is due to the changes in the external institutional environment and various intra‐organisational factors such as strong ethical culture, unique knowledge base (Sharia), and corporate governance regime. (shrink)

Se analizan las versiones más relevantes de capital espiritual y los aspectos que tienen en común, y cómo algunas lo vinculan con la religión y otras no; se describe el carácter multidimensional de esta noción, lo que converge en una teoría de la motivación profunda y de fuerte arraigo interno en las personas. Esta dimensión intrínseca de la motivación se muestra decisiva en las teorías éticas de la virtud de inspiración aristotélica, que ponen énfasis en el aspecto interno del (...) comportamiento. The article analyzes the most relevant versions of spiritual capital, the aspects they share, and the way in which some of them are linked to religion while others are not. It describes the multidimensional nature of the notion, which leads to a theory of profound motivation that is strongly rooted in the person. This intrinsic dimension of motivation proves to be decisive for ethical theories of virtue inspired in Aristotle, which emphasize the internal aspect of behavior. (shrink)

In this article, I attempt to briefly clarify a number of issues regarding what I have tried to achieve in my book Capital and Ideology. I also comment on the many limitations behind such a project,whose main objective is to stimulate further research on the global history of inequality regimes, at the intersection of economic, social and political history. Lastly, I address some of the many stimulating points raised in the reviews, particularly regarding the nature of participatory socialism and (...) its incompleteness. (shrink)

Using the temperate nature of recent social protest as its entry point, this analysis investigates the current state of liberal democracies as one in which the purported crisis of capitalism has en...

This book, first published in 1973, takes up an important approach to capital which had gone out of fashion. It is being reissued in paperback in recognition of the recent renewed interest in this approach. The 'Austrian' theory of capital concentrates on the inputs and outputs in the productive process, and has an advantage over more modern theories of economic dynamics in that it is more naturally expressible in economic terms: the production process over time is taken as (...) a whole, rather than disintegrated. However, this approach had been largely abandoned because it seemed to be unable to deal with fixed capital. Sir John overcomes this problem here by allowing for a sequence of outputs, and the consequences for dynamic economics are profound and novel. (shrink)

This paper tests the hypotheses that the tide of globalization undermines or reinforces the traditional types of social capital. Using the 2006 AsiaBarometer Survey data and applying two-level logit regression analysis, this paper found that social capital related to sense of trust or human nature and interpersonal relations can be augmented by globalization, while social capital regarding familialism and mindfulness can be weakened.

This chapter outlines Marx’s analysis of bourgeois society, the bourgeois form of production, relations of bourgeois production, the mode of production based on capital, and, after 1860, the capitalist mode of production. It starts with the analysis of the value form, its various expressions, its contradictions and crisis-tendencies, and the way in which social forms set the limits to class struggle. Forms and struggles shape the laws of motion of capital accumulation, which, in turn, modify the conjuncture in (...) which forms evolve and struggles occur. The chapter also considers the nature of bourgeois social formations and their implications for economic and political institutions and conflicts. The chapter concludes with reflections on the pursuit of alternatives to capitalist relations that aim to reform capitalism or replace it in the medium- to long-term and the forms of social mobilization required for this. (shrink)

One of Israel Kirzner’s less wellknown contributions is to the theory of capital. In this paper, we link the Austrian theory of capital and the theory of economic organization. Our starting point is the key Austrian notion of capital heterogeneity which we interpret in terms of attributes. Most capital assets are multi-attribute in nature, and many attributes may not be known to entrepreneurs. This fosters a need for experimenting with capital combinations. Because there are costs (...) of measuring attributes, this process has implications for economic organization. Thus, we argue that novel implications for the understanding of ownership and the existence and boundaries of firms may be teased out of such a perspective.La théorie du capital représente une des contributions les moins connues d’Israel Kirzner. Dans cet article, nous établissons le lien entre la théorie autrichienne du capital et la théorie de l’organisation économique. Notre point de départ est la notion autrichienne fondamentale d’hétérogénéité du capital que nous interprétons en termes d’attributs. De par leur nature, la plupart des biens capitaux possèdent plusieurs attributs qui peuvent demeurer inconnus aux entrepreneurs. Ceci accroît la nécessité d’expérimenter des combinaisons capitalistiques. Etant donné les coûts qu’entraîne la mesure des attributs, ce processus a des implications quant à l’organisation économique. Ainsi, cette perspective permet de tirer de nouvelles implications pour notre compréhension de la propriété, de l’existence et de la taille des firmes. (shrink)

The proliferation of diasporas has influenced the nature of internationalization in many higher education (HE) systems and institutions, especially in terms of academic and student mobility/migration. Through a systematic review of the academic literature, I critically analyze the widespread uses of and approaches to ‘diaspora’ in HE research and its relationship to internationalization. I identify two major areas of studies and corresponding approaches to diaspora: one which frames diaspora as human capital and focusses on the role of the state; (...) and the other which frames diaspora as marginalized other and social construct. I argue that ‘diaspora’ in HE studies tends to be ambiguous, under-defined, under-theorized, and fragmented. I further argue that it is loosely connected to internationalization discourses, despite its clear connections. I posit that this is because ‘internationalization’ is associated with humanitarianism, cosmopolitanism, global citizenship and the de-centering of states, nations, ethnicities, religions, and particularistic identities. Diaspora is often associated with these latter categories and thus, is shunned. I conclude by suggesting that the blending of (often conflictual) ideas, intentions, values and identities is precisely what diaspora engages in and that the conditions of our increasingly mobile and (inter)connected world necessitate a (re)thinking of diaspora in HE scholarship. (shrink)

Almost entirely ignored in the linguistic theorising on names and descriptions is a hybrid form of expression which, like definite descriptions, begin with 'the' but which, like proper names, are capitalised and seem to lack descriptive content. These are expressions such as the following, 'the Holy Roman Empire', 'the Mississippi River', or 'the Space Needle'. Such capitalised descriptions are ubiquitous in natural language, but to which linguistic categories do they belong? Are they simply proper names? Or are they definite (...) descriptions with unique orthography? Or are they something else entirely? This paper assesses two obvious assimilation strategies: (i) assimilation to proper names and (ii) assimilation to definite descriptions. It is argued that both of these strategies face major difficulties. The primary goal is to lay the groundwork for a linguistic analysis of capitalised descriptions. Yet, the hope is that clearing the ground on capitalised descriptions may reveal useful insights for the on-going research into the semantics and syntax of their lower-case or 'the'-less relatives. (shrink)

Taking a fresh look at a central controversy in criminal law theory, The Ethics of Capital Punishment presents a rationale for the death penalty grounded in a theory of the nature of evil and the nature of defilement. Original, unsettling, and deeply controversial, it will be an essential reference point for future debates on the subject.

The importance of organizational ambidexterity was stressed in different fields of management. This study was using a distinct method to measure the differences in the degree of ambidexterity to bridge the gap with the previous studies and to provide more insights in the successful management of exploitation and exploration. This study surveyed Taiwanese small and medium-sized enterprises to test the hypotheses. We issued 1000 questionnaires in total and received 234 valid ones. Results indicate exploitative and explorative capabilities exerting non-linear effect (...) on performance. Likewise, ambidexterity and its interaction with market orientation have positive influence on firm performance. This study used structural equation modeling to analyze data, as this approach is known to be particularly advantageous for the exploratory nature of this study. We also used hierarchical regression analysis to test interaction and moderating effects. The study contributes to the literature in two ways. First, we offer a clearer understanding of the complete concept of social capital, including inter-firm and intra-firm social capital, and how contributes to improving and extending existing exploitative capabilities. Second, this study outlines how market orientation can have different effects on an ambidextrous strategy that is adopted to improve Taiwanese SMEs performance. (shrink)

In this article I spell out a conception of dignity grounded in African moral thinking that provides a plausible philosophical foundation for human rights, focusing on the particular human right not to be executed by the state. I first demonstrate that the South African Constitutional Court’s sub-Saharan explanations of why the death penalty is degrading all counterintuitively entail that using deadly force against aggressors is degrading as well. Then, I draw on one major strand of Afro-communitarian thought to develop a (...) novel conception of dignity as the view that what is special and inviolable about human nature is our capacity for harmonious relationships. I argue that a principle of respect for the dignity of such a capacity entails that the death penalty is an indignity but that deadly force in self- or other-defense need not be, and I contend that this African- inspired principle promises to do no worse than the more Western, Kantian principle of respect for autonomy at accounting for a broad range of human rights. (shrink)

This article argues for a social proviso concerning capital endowments that is analogous to Locke's original proviso on access to productive natural capital.

From Bohm-Bawerk on, political economists have seemingly blown great holes in Marxism, disproving its key concepts and falsifying Marx's predictions. In this book, Geoffrey Pilling maintains that even the most devastating of such factual analyses are fruitless because they misconstrue the nature of Marx's critique. In Pilling's presentation, Marx's critique of political economy is not "economic" but philosophic. In criticizing political economy, Marx transcends it and in so doing is essentially immune from any analysis which turns on "facts." According to (...) Pilling, "Marx's work cannot be reduced to a series of results, to be tested against the 'facts' of capitalist development". Pilling, following the lead of Lenin, seeks to overturn the "shallow empiricism" which has led to the degeneration of Marxism. It is Pilling's aim to recover the "philosophical method" of Capital, i.e., to re-work Capital in the light of Hegel's Logic, to rehabilitate dialectic over empiricism. Pilling begins by showing how "... Marx's critique of political economy [is] of a philosophic nature, rather than one concerned with the details of economic theory alone". Marx, as we know, rejects the individualism of political economy which derives from Locke. He condemns the uncritical and "ahistorical" character of political economy, i.e., the tendency to treat the categories of economics as natural. According to Pilling's. (shrink)

This paper is a response to the opening of new lines of research on CSR and SMEs (Thompson & Smith, 1991; Spence, 1999; Moore & Smith, 2006; Spence, 2007). It seeks to explore the business case for CSR in this corporate segment. The paper, which is based on four case studies of medium-sized firms in the automotive sector, took the distinctive approach of trying to understand the nature of CSR-like activities developed not by best-in-class CSR-driven companies but by purely competitiveness-driven (...) firms. The case studies provide explicit evidence that the CSR activities of SMEs and the notion of social capital are interrelated, turning social capital into a powerful instrument to better explain what academic literature has called silent CSR practices . The analysis that follows questions some of the basic tenets that underpin the branch of business ethics that deals with the nature of SMEs' approach to CSR. Four basic concerns, which take the form of propositions for further research, serve as the basis for this analysis: a) A definition of CSR that includes most of the actions taken by all companies in the territory contributes no academic value to the discipline b) Any study of the motivation behind these CSR actions must reflect their essentially pragmatic nature. Actions are linked to social values but also, more importantly, to the nature of the competitive environment c) Business ethics must seek common ground with other more sociological disciplines if it is to explain the reasons behind this type of action d) Any study of this kind of practice requires a dual approach: a) normative when using tools developed by CSR; and b) descriptive and instrumental using the notion of social capital. (shrink)

This paper is a response to the opening of new lines of research on CSR and SMEs (Thompson & Smith, 1991; Spence, 1999; Moore & Smith, 2006; Spence, 2007). It seeks to explore the business case for CSR in this corporate segment. The paper, which is based on four case studies of medium-sized firms in the automotive sector, took the distinctive approach of trying to understand the nature of CSR-like activities developed not by best-in-class CSR-driven companies but by purely competitiveness-driven (...) firms. The case studies provide explicit evidence that the CSR activities of SMEs and the notion of social capital are interrelated, turning social capital into a powerful instrument to better explain what academic literature has called silent CSR practices . The analysis that follows questions some of the basic tenets that underpin the branch of business ethics that deals with the nature of SMEs' approach to CSR. Four basic concerns, which take the form of propositions for further research, serve as the basis for this analysis: a) A definition of CSR that includes most of the actions taken by all companies in the territory contributes no academic value to the discipline b) Any study of the motivation behind these CSR actions must reflect their essentially pragmatic nature. Actions are linked to social values but also, more importantly, to the nature of the competitive environment c) Business ethics must seek common ground with other more sociological disciplines if it is to explain the reasons behind this type of action d) Any study of this kind of practice requires a dual approach: a) normative when using tools developed by CSR; and b) descriptive and instrumental using the notion of social capital. (shrink)