The Challenges Of Capitalism For Virtue Ethics And The Common Good

The evolution of modern capitalist society is increasingly being marked by an undeniable and consistent tension between pure economic and ethical ways of valuing and acting. This book is a collaborative and cross-disciplinary contribution that challenges the assumptions of capitalist business and society. It ultimately reflects on how to restore benevolence, collaboration, wisdom and various forms of virtuous deliberation amongst all those who take part in the common good, drawing inspiration from European history and continental philosophical traditions on virtue.

Shows how to ensure that capitalism promotes progress and equality rather than enriching the few at the expense of manyBased on principles developed by the Caux Round Table, an international network of senior business executives from such companies as 3M, Canon, NEC, Bankers Trust, Shell, Prudential, and dozens of other companiesProvides practical guidelines for corporate social responsibility through the Caux Round Table's Seven General Principles for BusinessThe world is drifting without a clear plan for its economic development. Communism is dead, but in the wake of Enron and similar scanda.

Recent economic development and the financial and economic crisis require a change in our approach to business and finance. This book combines theology, economy and philosophy in order to examine in detail the idea that the functioning of a free market economy depends upon sound cultural and ethical foundations. The free market is a cultural achievement, not only an economic phenomenon subject to technical rules of trade and exchange. It is an achievement which lives by and depends upon the values and virtues shared by the majority of those who engage in economic activity. It is these values and virtues that we refer to as culture. Trust, credibility, loyalty, diligence, and entrepreneurship are the values inherent in commercial rules and law. But beyond law, there is also the need for ethical convictions and for global solidarity with developing countries. This book offers new ideas for future sustainable development and responds to an increasing need for a new sense of responsibility for the common good in societal institutions and good leadership.

In today’s global and complex environment, traditional views towards organizational management are not enough for businesses to thrive. It’s only by bringing together different approaches can management styles develop fast enough to keep pace with the ever-changing big picture.

While the concept and domain of Corporate Social Responsibility (CSR) are not new—its beginnings can be tracked back to the 1960s—its scope, urgency, and relevance have shifted dramatically in recent years. CEO responses show that the majority of business leaders understand that they operate in an environment of contested values and that stakeholders expect companies to do better and more. However, many corporate incentive systems are not in sync with societal norms and expectations. Moreover, "grand challenges" such as climate change and global pandemics and growing interconnectedness shed light on the fault lines of value creation through complex supply chain systems, exposing unacceptable working conditions, modern slavery, and the environmental consequences of highly distributed production at any cost. As a consequence, corporate social responsibility has become a widely accepted common denominator of the role and responsibilities of business in society, ranging from core functions such as health, safety, and environment standards, to governance and recognition of stakeholders, supply chain design, and corporations’ stand on climate change and its responsibility to future generations. This volume assembles state-of-the-art scholarship from leading scholars in the field and enables a "full range view" of CSR, from its roots, normative foundations, and institutional perspectives to matters of stakeholding, the global value chain, social innovation, and future directions. The Routledge Companion to Corporate Social Responsibility represents a prestige reference work providing an overview of the subject area of CSR for academics, researchers, postgraduate students, as well as reflective practitioners.

How should we understand the self, as well as personal, relational and systemic growth? This volume proposes a radical new way of answering this question. It rests on a non-representational theory of knowledge on how to approach and understand the self and action more broadly. Although it has never been lost, the Aristotelian emphasis on excellence in moral character and practical reason as preconditions for achieving happiness has gradually been degraded. This book suggests that this has happened thanks to a split between knowledge and action that can be traced back to the origins of modernity. Modern academic disciplines in general, and psychology in particular, are based on the idealisation of theoretical, hypothetical and abstract reason, suggesting that this morally neutral ideal must guide human action. This volume systematically integrates those domains in a more profound and meaningful proposal, relevant for current times and challenges. Based on previous research bridging philosophy, psychology and neuroscience, the contributors here identify two alternative paradigms for conceiving of the self and human development: the so-called “autonomous self” (AS) and the “inter-processual self” (IPS). The book considers the person as an ethical being and as the foundational cornerstone of a new theory of self, action and knowing that achieves decisive distance from modern theory’s limitations. To keep on-going dialogue on human development open, the authors introduce a new theoretical model (IPS) which can be scientifically measured and tested; they also suggest its further application in concrete, practical realms, thus touching on how the adoption of the IPS paradigm inspires a renewed view of human cognition, education, governance, and business management.

Can business activities and decisions be virtuous? This is the first business ethics textbook to take a virtue ethics approach. It explains how virtue ethics compares with alternative approaches to business ethics, such as utilitarianism and deontology, and argues that virtue ethics best serves the common good of society. Looking across the whole spectrum of business—including finance, governance, leadership, marketing and production—each chapter presents the theory of virtue ethics and supports students’ learning with chapter objectives, in-depth interviews with professionals and real-life case studies from a wide range of countries. Business Ethics: A Virtue Ethics and Common Good Approach is a valuable text for advanced undergraduates and masters-level students on business ethics courses.

Can capitalism have moral foundations? Though this question may seem strange in today's world of vast economic disparities and widespread poverty, discussions originating with the birth of capitalism add a critical perspective to the current debate on the efficacy and morality of capitalist economies. Authors Daniel Halliday and John Thrasher use this question to introduce classical political philosophy as a framework by which to evaluate the ethics of capitalism today. They revisit and reconstruct historical eighteenth- and nineteenth-century defenses of capitalism, as written by key proponents such as Adam Smith and John Stuart Mill. They ask what these early advocates of market order would say about contemporary economies, and argue for the importance of connecting these foundational defenses to discussions of economic systems and the roles they play in economic justice and injustice today. The textbook covers longstanding problems that are as old as the discussion of capitalism itself, such as wage inequality, global trade, and the connection between paid labor and human flourishing. It also addresses new challenges, such as climate change, the welfare state, and competitive consumption, and provides topical global case studies. Additionally, it includes study questions at the end of each chapter and an author-created companion website to help guide classroom discussion.