The dominance of agency theory can reduce our collective scope to analyse private equity in all its diversity and depth. We contribute to theorisation of private equity by developing a contrasting perspective that draws on a rich tradition of virtue ethics. In doing so, we juxtapose 'private equity' with 'public good' to develop points of rhetorical and analytical contrast. We develop a typology differentiating various forms of private equity, and focus on the 'take private' form. These takeovers are where private (...) equity funds are used to buy all a firm's publicly listed shares. Take private deals reduce reporting requirements and lessen the amount of public scrutiny a firm comes under. They allow greater control of a firm's assets and resources but also have effects in terms of the wider social fabric. The 'public good' and virtue ethics offer an alternative basis for theorisation of these deals. This provides a needed contrast to accounts of private equity based on agency theory. (shrink)

In this re-written classic text, the author provides a critical review of the various different ways in which ethical debates about warfare are already framed, and asks probing questions about how we think about war, and the changes it is undergoing.

What is war, and how should it be waged? Are there restraints on its conduct? What can philosophers contribute to the study of warfare? Arguing that the practice of war requires a sound philosophical understanding, Ian Clark writes a fascinating synthesis of the philosophy, history, political theory, and contemporary strategy of warfare. Examining the traditional doctrines of the "just" and the "limited" war with fresh insight, Clark also addresses the applicability of these ideas to the modern issues of war crimes, (...) choice of targets, guerrilla warfare, and nuclear strategy and deterrence. (shrink)