Morality, Competition, and the Firm
The Market Failures Approach to Business Ethics
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Product details:
- Publisher OUP USA
- Date of Publication 11 September 2014
- ISBN 9780199990481
- Binding Hardback
- No. of pages424 pages
- Size 165x236x35 mm
- Weight 680 g
- Language English
- Illustrations 10 illus. 0
Categories
Short description:
In four new and nine previously published essays, Joseph Heath provides a compelling new framework for thinking about the moral obligations of economic actors. The "market failures" approach to business ethics that he develops provides the basis for a unified theory of business ethics, corporate law, economic regulation, and the welfare state.
MoreLong description:
In this collection of provocative essays, Joseph Heath provides a compelling new framework for thinking about the moral obligations that private actors in a market economy have toward each other and to society. In a sharp break with traditional approaches to business ethics, Heath argues that the basic principles of corporate social responsibility are already implicit in the institutional norms that structure both marketplace competition and the modern business corporation. In four new and nine previously published essays, Heath articulates the foundations of a "market failures" approach to business ethics. Rather than bringing moral concerns to bear upon economic activity as a set of foreign or externally imposed constraints, this approach seeks to articulate a robust conception of business ethics derived solely from the basic normative justification for capitalism. The result is a unified theory of business ethics, corporate law, economic regulation, and the welfare state, which offers a reconstruction of the central normative preoccupations in each area that is consistent across all four domains. Beyond the core theory, Heath offers new insights on a wide range of topics in economics and philosophy, from agency theory and risk management to social cooperation and the transaction cost theory of the firm.
Undergraduate and graduate students in business and society courses might be well served by focusing on these two sections of the book; later chapters balance the text by delving further into details for those desiring much greater depth or conducting research on the subject. There is also an outstanding bibliography ... Highly recommended.
Table of Contents:
Acknowledgements
Introduction
Part 1: The Corporation and Society
1. A Market Failures Approach to Business Ethics
2. Stakeholder Theory, Corporate Governance and Public Management (with Wayne Norman)
3. Business Ethics Without Stakeholders
4. An Adversarial Ethic for Business: or, When Sun-Tzu met the Stakeholder
5. Business Ethics and the 'End of History' in Corporate Law
Part 2: Cooperation and the Market
6. Contractualism: Micro and Macro
7. Efficiency as the Implicit Morality of the Market
8. The History of the Invisible Hand
9. The Benefits of Cooperation
Part 3: Extending the Framework
10. The Uses and Abuses of Agency Theory
11. Business Ethics and Moral Motivation: a Criminological Perspective
12. Business Ethics After Virtue
13. Reasonable Restrictions on Underwriting
Bibliography
Index
