Markets, Ethics, and Business Ethics
Routledge (Verlag)
978-0-367-70462-9 (ISBN)
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Part 1 introduces a study of markets, property rights, and law. Part 2 examines the purpose and responsibilities of corporations. Parts 3 and 4 analyze economic life through the ethics and values of welfare and efficiency, liberty, rights, equality, desert, personal character, community, and the common good.
This third edition maintains the strengths of previous editions – short, digestible chapters and engaging writing that explains challenging ideas clearly. The material is easily adaptable with suggested course outlines, separable chapters, and flexible applications to case studies. This book is designed for interdisciplinary programs in philosophy, politics, and economics (PPE), as well as courses in business ethics.
Updates to the third edition include:
addition of a new introductory chapter on the value of an ethical life
coverage of AI developments, including copyrights and patent implications, social media companies and CSR, ethical differences between AI and human personality, and impacts on meaningful work
integration of recent scholarship, bringing discussions and references up to date
improvement of the writing across all chapters, making the book easier to read
addition of new material on the is-ought gap in Chapter 1 with revised discussion of personal and institutional points of view
editing and repositioning of consequentialist and deontological ethics in Chapter 3
revision of appendix for instructors that includes different syllabi possibilities for different types of courses
The eBook of the third edition now includes hyperlinks (1) between when a term is first used in the main text and its definition in the Glossary and (2) between germane sections when they are cross-referenced.
Steven Scalet is Professor of Philosophy and Director of the Hoffberger Center for Ethical Engagement at the University of Baltimore, USA. Prior to Baltimore, Scalet was Director of the Program in Philosophy, Politics, and Law at Binghamton University (SUNY), USA, where he received the Chancellor’s Award for Excellence in Teaching. Scalet received his PhD in philosophy and MA in economics from the University of Arizona, USA. Scalet is the author of many articles and the editor of Morality and Moral Controversies: Readings in Moral, Social, and Political Philosophy, 10th Edition (Routledge, 2019).
Steven Scalet is Professor of Philosophy and Director of the Hoffberger Center for Ethical Engagement at the University of Baltimore, USA. Prior to Baltimore, Scalet was Director of the Program in Philosophy, Politics, and Law at Binghamton University (SUNY), USA, where he received the Chancellor’s Award for Excellence in Teaching. Scalet received his PhD in philosophy and MA in economics from the University of Arizona, USA. Scalet is the author of many articles and the editor of Morality and Moral Controversies: Readings in Moral, Social, and Political Philosophy, 10th Edition (Routledge, 2019).
0 The Value of an Ethical Life 0.1 Introduction 0.2 Why Study Ethics? 0.3 Skepticism and Ethics 0.4 Values as Guidance 0.5 Summary Discussion Questions Further Readings Part 1 Foundations 1 Markets 1.0 Introduction 1.1 What Are Market Exchanges? 1.2 Why Begin This Study With Market Exchanges? 1.3 Debates About How to Define Markets 1.4 Blocked Exchanges 1.5 Background Conditions for Markets to Operate 1.6 Summary 1.7 Looking Ahead Discussion Questions Further Readings Appendix: Dialogues That Shape This Book 1.A1 Descriptive and Normative Analysis 1.A2 Personal and Institutional Points of View Discussion Questions Further Readings 2 Property Rights 2.0 Introduction 2.1 Property as Relations Among People 2.2 Hohfeld’s Conception of Property Rights 2.3 Tips for Learning and Applying Property Relations 2.4 Ownership and a Bundle of Sticks 2.5 Further Distinctions 2.6 Patents and Intellectual Property 2.7 The Limits of Property Rights 2.8 Summary Discussion Questions Further Readings 3 Property Rights, Markets, and Law 3.0 Introduction 3.1 Property Rights and Markets 3.2 Property Rights and Law 3.3 Property Rights and Culture 3.4 Economic Systems Today 3.5 Why Study Property Rights? 3.6 Relativism 3.7 Two Normative Theories About Property Rights 3.8 Summary 3.9 Looking Ahead Discussion Questions Further Readings Part 2 The Purpose and Responsibilities of Corporations 4 Shareholder Primacy Theory of Corporations 4.0 Introduction 4.1 A Debate 4.2 Corporate Purpose: Advance Shareholder Interests By Maximizing Profits Within the Law 4.3 Debates About Shareholder Rights and Managerial Duties 4.4 Ethical Justifications 4.5 Interpreting the CSR Movement From the Shareholder Perspective 4.6 Separating the Roles of Business and Government 4.7 Self-Interest and Markets 4.8 Summary Discussion Questions Further Readings 5 Stakeholder Theory of Corporations 5.0 Introduction 68 5.1 A Global Perspective: “All Is Not Well” 68 5.2 Corporate Purpose, Stakeholder Rights, and Managerial Duties 70 5.3 Ethical Justifications 74 5.4 Interpreting the CSR Movement From a Stakeholder Perspective 76 5.5 Corporations and Government 78 5.6 Ethics, Self-Interest, and Markets 79 5.7 Personal and Institutional Points of View Revisited 81 5.8 Other Theories of Corporate Purpose 83 5.9 Corporate Personhood 83 5.10 Summary 84 Discussion Questions 85 Further Readings 87 Part 3 Efficiency and Welfare: Common Ethical Guides in Business and Economics 6 Efficiency and Welfare 6.0 Introduction 6.1 Pareto Efficiency as an Ethical Ideal 6.2 How Idealized Markets Create Efficiency Gains 6.3 Background Conditions 6.4 How Actual Markets Approximate Ideal Markets 6.5 How Efficiency Is a Basis for Criticizing Markets 6.6 The Ethical and Practical Appeal of the Efficiency Standard 6.7 Complications About the Meaning of Efficiency 6.8 Summary Discussion Questions Further Readings 7 Public Goods, Responsibility, and Utilitarianism 7.0 Introduction 7.1 Public Goods 7.2 Two Neighborhoods and a Park: A Public Goods Problem 7.3 The Tragedy of the Commons 7.4 Responsibility for Collective Action Problems 7.5 Limitations to Pareto Efficiency as a Normative Standard 7.6 Utilitarianism 7.7 Attractions and Limitations of Utilitarianism 7.8 Summary Discussion Questions Further Readings 8 The Invisible Hand: Ethics, Incentives, and Institutions 8.0 Introduction 8.1 The Invisible Hand Model 8.2 The Government Regulation Model 8.3 The Professional Ethics Model 8.4 Conflicts of Interest 8.5 The Dance Between Ethics, Incentives, and Institutions 8.6 Beyond Welfare 8.7 Summary Discussion Questions Further Readings Part 4 Ethics Beyond Efficiency 9 Liberty 9.0 Introduction 9.1 Two Concepts of Liberty 9.2 Freedom and Ethics 9.3 Kantian Ethics 9.4 Institutional Implications of Negative Freedom 9.5 Institutional Implications of Positive Freedom 9.6 Two Visions of a Free Society: Positive and Negative Freedom 9.7 Summary Discussion Questions Further Readings 10 Rights 10.0 Introduction 10.1 Preliminaries 10.2 Rights as Side-Constraints 10.3 Rights and Markets: Nozick’s Entitlement Theory of Justice 10.4 Applying the Entitlement Theory to Global Capitalism 10.5 Criticisms of Nozick’s Entitlement Theory of Justice 10.6 Justifying Rights 10.7 Summary Discussion Questions Further Readings 11 Equality 11.0 Introduction 11.1 Fundamental Equality 11.2 Implications for Institutions 11.3 Professional Ethics and the Personal Point of View 11.4 Social Contract Theory: Liberty and Equality Joined 11.5 Rawls’s Theory of Justice 11.6 Beyond Rawls: Businesses and the Social Contract 11.7 Integrative Social Contracts Theory 11.8 Summary Discussion Questions Further Readings 12 What People Deserve 12.0 Introduction 12.1 The Concept of Desert 12.2 Deserved Wages 12.3 Desert and Professional Ethics 12.4 Capitalism and Debates About the Relevance of Desert 12.5 Deserving Anything at All 12.6 Summary Discussion Questions Further Readings 13 Personal Relationships and Character 13.0 Introduction 13.1 Relationships 13.2 Criticisms of Markets and Capitalism Based on Relationships and Character 13.3 Virtue Ethics 13.4 Ayn Rand and Virtuous Rational Egoism 13.5 The Ethics of Care 13.6 Religious and Non-Western Ethical Approaches: Less of the Self 13.7 Integrating Earlier Debates on Relationships and Character 13.8 Advocating Markets and Capitalism Based on Relationships and Character 13.9 Summary Discussion Questions Further Readings 14 Community and the Common Good 14.0 Introduction 14.1 Creative Destruction and Community: Institutional Perspective 14.2 Change and Tradition From the Personal Point of View 14.3 Markets That Undermine Communities 14.4 Markets That Build Communities 14.5 The Meaning of the Common Good 14.6 Communitarianism 14.7 Justice and the Common Good: Complementary or Conflicting Values? 14.8 Summary Discussion Questions Further Readings Supplemental Materials I. A Primer on Ethics II. The Overall Approach of the Book III. Syllabi Suggestions IV.Summary Key Terms
| Erscheint lt. Verlag | 20.1.2025 |
|---|---|
| Zusatzinfo | 2 Tables, black and white; 33 Line drawings, black and white; 58 Halftones, black and white; 91 Illustrations, black and white |
| Verlagsort | London |
| Sprache | englisch |
| Maße | 178 x 254 mm |
| Themenwelt | Geisteswissenschaften ► Philosophie ► Ethik |
| Sozialwissenschaften ► Politik / Verwaltung | |
| Wirtschaft ► Allgemeines / Lexika | |
| Wirtschaft ► Betriebswirtschaft / Management ► Marketing / Vertrieb | |
| Wirtschaft ► Betriebswirtschaft / Management ► Unternehmensführung / Management | |
| Wirtschaft ► Volkswirtschaftslehre | |
| ISBN-10 | 0-367-70462-5 / 0367704625 |
| ISBN-13 | 978-0-367-70462-9 / 9780367704629 |
| Zustand | Neuware |
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