The Moral Case For Profit Maximization

Author : Robert White
Publisher : Rowman & Littlefield
Page : 241 pages
File Size : 52,7 Mb
Release : 2020-04-01
Category : Business & Economics
ISBN : 9781498542647

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The Moral Case for Profit Maximization by Robert White Pdf

The Moral Case for Profit Maximization argues that profit maximization is moral when businessmen seek to maximize profit by creating goods or services that are of objective value. Traditionally, profit maximization has been defended on economic grounds. Profit, economists argue, incentivizes businessmen to produce goods and services. In this view, businessmen do not need to be virtuous as long as they deliver the goods. It challenges the traditional defense of profit maximization, arguing that profit maximization is morally ambitious because it requires businessmen to form normative abstractions and to cultivate a virtuous character. In so doing, the author also challenges the moral basis of corporate social responsibility. Proponents of CSR argue that businessmen can do good while doing well. This book argues that businessmen already do good by maximizing profit, drawing upon the histories of the wheel, the refrigerator, and the shipping container, as well as the biographies of J. P. Morgan, John D. Rockefeller, and Thomas Edison to demonstrate the role of values in the creation of material goods and the role of the virtues in value creation. The author challenges readers to rethink the relationship between profit, value, and virtue.

Author : Patrick Primeaux,John Stieber
Publisher : Austin & Winfield Publishers
Page : 0 pages
File Size : 44,6 Mb
Release : 1995
Category : Business ethics
ISBN : 1572920246

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Profit Maximization by Patrick Primeaux,John Stieber Pdf

Primeaux and Stieber clearly articulate that good ethics maximize profits. The authors show that in the long run business must operate within the value systems of a society. Those businesses that choose otherwise are bound to fail. This book is for graduate students as well as managers. Together, Primeaux and Stieber have collaborated on several articles for The Journal of Business Ethics, and have contributed a feature article to the forthcoming Blackwell's Dictionary of Business Ethics. 'A book for managers who must understand the complexities of profit maximization. Writing in a straightforward, engaging style, Primeaux and Stieber throw new light on the mysteries of profit maximization.' -John W. Slocum, Jr., Past President, American Academy of Management. 'A very helpful perspective on which to base an ethics program for any business.' -Steve Van, President, Redstone Hotels, Inc.

Author : Robin Cowan,Mario J. Rizzo
Publisher : University of Chicago Press
Page : 200 pages
File Size : 55,9 Mb
Release : 1995
Category : Business & Economics
ISBN : 0226116328

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Profits and Morality by Robin Cowan,Mario J. Rizzo Pdf

Are profits morally justifiable? While neoclassical economists have traditionally endorsed the pursuit of profits, many moral philosophers have challenged profit making on a variety of ethical grounds. Through the lenses of economics, philosophy, and law, these six essays explore the morality of profits from libertarian, utilitarian, and consequentialist perspectives. Presenting arguments for and against the morality of profit making, the contributors examine the nature of profits and which ethical theories can support them. Two essays address how profits are made: one explores entrepreneurship as a legitimate source of profit, while another argues that recent advances in welfare economics weaken the case for the morality of profits. The other chapters focus on ethical theory, covering the right to profits from economic rent; the morality of how profits are used—those directed toward library or university endowments, for example, are considered morally acceptable—and whether or not profits are deserved.

Author : Seumas Miller
Publisher : Cambridge University Press
Page : 383 pages
File Size : 50,9 Mb
Release : 2010
Category : Business & Economics
ISBN : 9780521767941

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The Moral Foundations of Social Institutions by Seumas Miller Pdf

Seumas Miller provides an exciting new philosophical theory of contemporary social institutions and the ethical challenges they confront.

Author : Michael J. Sandel
Publisher : Farrar, Straus and Giroux
Page : 256 pages
File Size : 44,9 Mb
Release : 2012-04-24
Category : Philosophy
ISBN : 9781429942584

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What Money Can't Buy by Michael J. Sandel Pdf

Should we pay children to read books or to get good grades? Should we allow corporations to pay for the right to pollute the atmosphere? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars? Auctioning admission to elite universities? Selling citizenship to immigrants willing to pay? In What Money Can't Buy, Michael J. Sandel takes on one of the biggest ethical questions of our time: Is there something wrong with a world in which everything is for sale? If so, how can we prevent market values from reaching into spheres of life where they don't belong? What are the moral limits of markets? In recent decades, market values have crowded out nonmarket norms in almost every aspect of life—medicine, education, government, law, art, sports, even family life and personal relations. Without quite realizing it, Sandel argues, we have drifted from having a market economy to being a market society. Is this where we want to be?In his New York Times bestseller Justice, Sandel showed himself to be a master at illuminating, with clarity and verve, the hard moral questions we confront in our everyday lives. Now, in What Money Can't Buy, he provokes an essential discussion that we, in our market-driven age, need to have: What is the proper role of markets in a democratic society—and how can we protect the moral and civic goods that markets don't honor and that money can't buy?

Author : Robert Sirico
Publisher : Simon and Schuster
Page : 226 pages
File Size : 55,7 Mb
Release : 2012-05-21
Category : Political Science
ISBN : 9781596988118

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Defending the Free Market by Robert Sirico Pdf

Thirty years ago, the economic system of the Soviet empire—socialism—seemed definitively discredited. Today, the most popular figures in the Democratic Party embrace it, while the shapers of public opinion treat capitalism as morally indefensible. Is there a moral case for capitalism? Consumerism is an appalling spectacle. Free markets may be efficient, but are they fair? Aren’t there some things that we can’t afford to leave to the vicissitudes of the market? Robert Sirico, a onetime leftist, shows how a free economy—including private property, legally enforceable contracts, and prices and interest rates freely agreed to by the parties to a transaction—is the best way to meet society’s material needs. In fact, the free market has lifted millions out of dire poverty—far more people than state welfare or private charity has ever rescued from want. But efficiency isn’t its only virtue. Economic freedom is indispensable for the other freedoms we prize. And it’s not true that it makes things more important than people—just the reverse. Only if we have economic rights can we protect ourselves from government encroachment into the most private areas of our lives—including our consciences. Defending the Free Market is a powerful vindication of capitalism and a timely warning for a generation flirting with disaster.

Author : Jaana Woiceshyn
Publisher : University Press of America
Page : 168 pages
File Size : 50,5 Mb
Release : 2011-12-23
Category : Business & Economics
ISBN : 9780761857006

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How to be Profitable and Moral by Jaana Woiceshyn Pdf

A basic dilemma confronting today’s manager is how to be both profitable and moral. Making profits through immoral means—such as deceiving investors or customers—is unsustainable. Likewise, remaining moral while losing money will cause a business to fail. According to conventional morality, either a business manager maximizes profits and necessarily compromises on ethics, or necessarily sacrifices profits in order to be moral. Woiceshyn explains why this is a false dichotomy and offers rational egoism as an alternative moral code to businesspeople who want to maximize profits ethically. Through logical argument and various examples, this book shows how to apply principles such as rationality, productiveness, honesty, justice, and pride for long-term self-interest.

Author : Joseph Heath
Publisher : Oxford University Press
Page : 336 pages
File Size : 53,5 Mb
Release : 2014-08-01
Category : Philosophy
ISBN : 9780199990498

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Morality, Competition, and the Firm by Joseph Heath Pdf

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.

Author : A. Flohr,L. Rieth,S. Schwindenhammer,K. Wolf
Publisher : Springer
Page : 295 pages
File Size : 43,8 Mb
Release : 2010-01-13
Category : Political Science
ISBN : 9780230277533

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The Role of Business in Global Governance by A. Flohr,L. Rieth,S. Schwindenhammer,K. Wolf Pdf

The Role of Business in Global Governance offers an empirically rich analysis of the new political role of corporations in the co-performance of governance functions beyond the state. Within comparative case studies, potential explanations of the political role of transnational corporations are systematically tested.

Author : Kathleen Touchstone
Publisher : Rowman & Littlefield
Page : 249 pages
File Size : 50,9 Mb
Release : 2020-12-04
Category : Business & Economics
ISBN : 9781498597005

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Freedom, Eudaemonia, and Risk by Kathleen Touchstone Pdf

Kathleen Touchstone applies the philosophies of Objectivism, rule-utilitarianism, and neo-Aristotelianism to strategies of risk management. She proposes a risk index model which accounts for probability, virtue, and consequences, utilizing philosophical insight into the gauging of success.

Author : Andani Thakhathi
Publisher : Emerald Group Publishing
Page : 227 pages
File Size : 51,5 Mb
Release : 2022-01-28
Category : Business & Economics
ISBN : 9781802622614

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Transcendent Development by Andani Thakhathi Pdf

Transcendent Development contains morally courageous, creative storytelling prose offering paradigm shifts, empirical evidence and surprising “antenarratives” that explain how a harmonious Africa may be realised, starting in the Mother Continent’s Southern-most tip.

Author : Thomas Donaldson
Publisher : Englewood Cliffs, N.J. : Prentice-Hall
Page : 225 pages
File Size : 47,5 Mb
Release : 1982
Category : Industries
ISBN : 9780131770140

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Corporations and Morality by Thomas Donaldson Pdf

Author : Guglielmo Faldetta,Edoardo Mollona,Massimiliano Matteo Pellegrini
Publisher : Springer Nature
Page : 592 pages
File Size : 49,8 Mb
Release : 2022-06-06
Category : Business & Economics
ISBN : 9783030971069

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Philosophy and Business Ethics by Guglielmo Faldetta,Edoardo Mollona,Massimiliano Matteo Pellegrini Pdf

This book explores the relationship between philosophy and business ethics. Academics and practitioners often muse about the ethical and moral aspect of management and business actions, but these studies can lack a deeper philosophical grounding. Contributors to this volume challenge this gap by applying different philosophical paradigms and theories to business management issues. The territory covered by the contributions collected in this book spans from the foundations of business management literature itself, to the role of philosophy in new business models and technology; from the way philosophical theory can explain – and encourage – ethical firm behaviour, to the political stance that an organization takes. Contributors take a holistic approach to business and management, bringing together real-world examples and rich academic theory, creating an interdisciplinary volume, with international authors. Covering important topics such as corporate social responsibility, sustainability, leadership, and stakeholder relations, this book will be of interest to academics working in the field of business ethics, philosophy and management studies.

Author : Jude Smith Rachele
Publisher : Taylor & Francis
Page : 124 pages
File Size : 48,6 Mb
Release : 2017-06-14
Category : Business & Economics
ISBN : 9781317149569

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Dismantling Diversity Management by Jude Smith Rachele Pdf

Global diversity and inclusion management practice is in a state of arrested development. Leaders and practitioners are caught in grooves which are no longer effective, if they ever were. In Dismantling Diversity Management, Dr. Jude Smith Rachele takes a big leap in propounding that businesses, given the incredible complexity of the world’s social, economic and political fabric, must embrace morality and not just seek to act merely for reasons of legal compliance or profit. It presents a joined up system of diversity, which also extends beyond human resources into the wider fields of organization and leadership development. The book emphasizes the vital importance of ethical and values-driven leadership and of living, not just spouting out, corporate values. Jude provides a valuable contribution to the international field of diversity management as she highlights the key flaws in traditional diversity management thinking, and presents to the reader a clear picture of the barriers in place which make it difficult for practitioners, leaders and all of those committed to social justice to achieve desired outcomes within organizations. This book is a courageous and refreshing look at diversity. It not only provides a bold critique of how corporate structure has co-opted people into a diversity management model which perpetuates, rather than, transforms the status quo, it also maps out how to break this ineffective cycle. Dismantling Diversity Management will be of interest to organizational development professionals, diversity and inclusion practitioners, senior executive officers and human resource and talent management professionals.

Author : Joseph Heath
Publisher : Oxford University Press
Page : 425 pages
File Size : 54,7 Mb
Release : 2014
Category : Business & Economics
ISBN : 9780199990481

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Morality, Competition, and the Firm by Joseph Heath Pdf

"The essays by Joseph Heath collected in this volume collectively present a program in business ethics that he calls the "market failures" approach. They develop a theoretical framework that lies between two opposing positions in business ethics -- on one hand the "stakeholder" theory, which identifies moral obligations within an organization by identifying its key groups, and the self-explanatory "shareholder primacy" theory. Heath's "market failures" approach lies between these approaches and argues that firms should be guided by the ideal of a perfectly competitive market, and that ethical behavior in this context consists primarily in refraining from taking advantage of imperfections in existing markets. Heath's approach puts particular emphasis on the market as a competitively structured interaction, with different duties owed to individuals inside and outside the firm, and explains why business managers cannot have fiduciary responsibilities toward every stakeholder group. His theory draws on recent work in adversarial ethics, welfare economics, agency theory, and the theory of the ferm, in order to provide an account of business ethics that can be integrated with recent thinking about corporate law and the normative basis of state regulation of the economy"--