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Re-Thinking the Anthropological and Ethical Foundation of Economics and Business: Human Richness and Capabilities Enhancement

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Abstract

This article aims at showing the need for a sound ethical and anthropological foundation of economics and business, and argues the importance of a correct understanding of human values and human nature for the sake of economics and of businesses themselves. It is suggested that the ethical-anthropological side of economics and business can be grasped by taking Aristotle’s virtue ethics and Amartya Sen’s capability approach (CA) as major reference points. We hold that an “Aristotelian economics of virtues”, connected with the CA’s notion of human richness, can promote the shift to the concept of personhood, and can lead to a more “humanized” business, by fostering human flourishing, the enhancement of human capabilities, and the pursuit of a more humane development for each and every person.

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Acknowledgments

The author would like to thank all the participants of the 15th “International Symposium on Ethics, Business and Society” (IESE Business School, Barcelona, May 16–17, 2008) and especially Claus Dierksmeier, for their helpful comments. In addition, the author would like to thank Francesco Totaro, Gianluca Busilacchi, Julian Rode, and the anonymous referees for their thoughtful comments on earlier versions. Special thanks are due to Domènec Melé for his helpful advice and comments on several issues discussed in this article. Thanks are also due to Sheila Beatty for her linguistic edition of the text.

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Authors and Affiliations

  1. Department of Philosophy and Human Sciences, University of Macerata, Via Garibaldi 20, 62100, Macerata, Italy

    Benedetta Giovanola

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  1. Benedetta Giovanola
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Correspondence to Benedetta Giovanola.

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A preliminary version of this article was presented at the 15th “International Symposium on Ethics, Business and Society” held by IESE Business School (Barcelona, May 16–17, 2008).

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Giovanola, B. Re-Thinking the Anthropological and Ethical Foundation of Economics and Business: Human Richness and Capabilities Enhancement. J Bus Ethics 88, 431–444 (2009). https://doi.org/10.1007/s10551-009-0126-9

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