The Ethics Of Capitalism

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.

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.

__________________ *A road-map for a kinder, fairer capitalism that is fit for the 21st century* Financial Times Book of the Month ‘The founder of Richer Sounds is one of the finest entrepreneurs we have.’ Archie Norman, chairman of Marks & Spencer __________________ Capitalism has lost its way. Every week brings fresh news stories about businesses exploiting their staff, avoiding their taxes, and ripping off their customers. Every week, public anger at the system grows. Now, one of Britain’s foremost entrepreneurs intervenes to make the case for putting business back firmly in the service of society, and setting out on a new path to a kinder, fairer form of capitalism. Drawing on four decades of hands-on management experience, the founder of Richer Sounds argues that ethically run businesses are invariably more efficient, more motivated and more innovative than those that care only about the bottom line. He uncovers the simple tools that the best leaders use to make their businesses fair, revealing how others can follow suit. And he also delves into the big questions that modern capitalism has to answer if it is to survive and to thrive.

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.

Shibusawa Eiichi (1840–1931) was a Japanese banker and industrialist who spearheaded the modernization of Japanese industry and finance during the Meji Restoration. He founded the first modern bank in Japan and his reforms introduced double entry accounting and joint-stock corporations to the Japanese economy. Today, he is known as the “father of Japanese capitalism.” Ethical Capitalism is a volume of essays that tackles the thought, work, and legacy of Shibusawa Eiichi and offers international comparisons with the Japanese experience. Eiichi advocated for gapponshugi, a principle that emphasized developing the right business, with the right people, in service to the public good. The contributors build a historical perspective on morality and ethics in the business world that, unlike corporate social responsibility, concentrates on the morality inside firms, industries, and private-public partnerships. Ethical Capitalism is not only a timely work; it is a necessary work, in a rapidly globalizing world where deregulation and lack of oversight risk repeating the financial, environmental, and social catastrophes of the past.

The essays in Ethics and Capitalism address the question of ensuring ethical and just societies within a capitalist system without sacrificing productivity.

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.

The 21st century is the age of "neo-liberalism" – a time when the free market is spreading to all areas of economic, political and social life. Yet how is this changing our individual and collective ethics? Is capitalism also becoming our new morality? From the growing popular demand for corporate social responsibility to personal desire for "work-life balance" it would appear that non-market ideals are not only surviving but also thriving. Why then does it seem that capitalism remains as strong as ever? The Ethics of Neoliberalism boldly proposes that neoliberalism strategically co-opts traditional ethics to ideologically and structurally strengthen capitalism. It produces "the ethical capitalist subject" who is personally responsible for making their society, workplace and even their lives "more ethical" in the face of an immoral but seemingly permanent free market. Rather than altering our morality, neoliberalism "individualizes" ethics, making us personally responsible for dealing with and resolving its moral failings. In doing so, individuals end up perpetuating the very market system that they morally oppose and feel powerless to ultimately change. This analysis reveals the complex and paradoxical way capitalism is currently shaping us as "ethical subjects". People are increasingly asked to ethically "save" capitalism both collectively and personally. This can range from the "moral responsibility" to politically accept austerity following the financial crisis to the willingness of employees to sacrifice their time and energy to make their neoliberal organizations more "humane" to the efforts by individuals to contribute to their family and communities despite the pressures of a franetic global business environment. Neoliberalism, thus, uses our ethics against us, relying on our "good nature" and sense of personal responsibility to reduce its human cost in practice. Ironically