David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Economics and Philosophy 28 (3):311-331 (2012)
The efficiency argument for profit maximization says that corporations and their managers should maximize profits because this is the course of action that will lead to an or outcome (see e.g. Jensen 2001, 2002). In this paper, I argue that the fundamental problem with this argument is not that markets in the real world are less than perfect, but rather that the argument does not properly acknowledge the personal sphere. Morality allows each of us a sphere in which we are free to pursue our personal interests, even if these are not optimal from the social point of view. But the efficiency argument does not come to terms with this feature of social life
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
No references found.
Citations of this work BETA
No citations found.
Similar books and articles
Timothy H. Engström (1997). Corporate Appropriation of Privacy: The Transformation of the Personal and Public Spheres. Ethics and Behavior 7 (3):239 – 252.
Ivar Kolstad (2007). Why Firms Should Not Always Maximize Profits. Journal of Business Ethics 76 (2):137 - 145.
John Hardwig (2010). The Stockholder – a Lesson for Business Ethics From Bioethics? Journal of Business Ethics 91 (3):329 - 341.
John Douglas Bishop (2008). For-Profit Corporations in a Just Society. Business Ethics Quarterly 18 (2):191-212.
Patrick Primeaux & John Stieber (1994). Profit Maximization: The Ethical Mandate of Business. [REVIEW] Journal of Business Ethics 13 (4):287 - 294.
Holly Henderson Brower & Charles B. Shrader (2000). Moral Reasoning and Ethical Climate: Not-for-Profit Vs. For-Profit Boards of Directors. [REVIEW] Journal of Business Ethics 26 (2):147 - 167.
LaRue Tone Hosmer (1984). Managerial Ethics and Microeconomic Theory. Journal of Business Ethics 3 (4):315 - 325.
Andrew V. Abela (2001). Profit and More: Catholic Social Teaching and the Purpose of the Firm. [REVIEW] Journal of Business Ethics 31 (2):107 - 116.
Patrick Primeaux & John Stieber (1999). When MR = MC: Ethical Efficiencies in Valuing and Pricing. [REVIEW] Journal of Business Ethics 18 (2):201 - 211.
John Alexander (2007). Environmental Sustainability Versus Profit Maximization: Overcoming Systemic Constraints on Implementing Normatively Preferable Alternatives. [REVIEW] Journal of Business Ethics 76 (2):155 - 162.
David E. Schrader (1987). The Corporation and Profits. Journal of Business Ethics 6 (8):589 - 601.
Jeremy Moon, Andrew Crane & Dirk Matten (2005). Can Corporations Be Citizens? Corporate Citizenship as a Metaphor for Business Participation in Society. Business Ethics Quarterly 15 (3):429-453.
Chris J. Cuomo (2011). Climate Change, Vulnerability, and Responsibility. Hypatia 26 (4):690-714.
Added to index2012-11-29
Total downloads10 ( #144,874 of 1,098,976 )
Recent downloads (6 months)4 ( #79,853 of 1,098,976 )
How can I increase my downloads?