Journal of Agricultural and Environmental Ethics 20 (6):515-532 (2007)
|Abstract||Is it legitimate for a business to concentrate on profits under respect for the law and ethical custom? On the one hand, there seems to be good reasons for claiming that a corporation has a duty to act for the benefit of all its stakeholders. On the other hand, this seems to dissolve the notion of a private business; but then again, a private business would appear to be exempted from ethical responsibility. This is what Kenneth Goodpaster has called the stakeholder paradox: either we have ethics without business or we have business without ethics. Through a different route, I reach the same solution to this paradox as Goodpaster, namely that a corporation is the instrument of the shareholders only, but that shareholders still have an obligation to act ethically responsibly. To this, I add discussion of Friedman’s claim that this responsibility consists in increasing profits. I show that most of his arguments fail. Only pragmatic considerations allow to a certain extent that some of the ethical responsibility is left over to democratic regulation.|
|Keywords||democracy ethical responsibility freedom free rider|
|Categories||categorize this paper)|
|Through your library||Configure|
Similar books and articles
R. Edward Freeman (1994). The Politics of Stakeholder Theory. Business Ethics Quarterly 4 (4):409-421.
Kenneth E. Goodpaster (1991). Business Ethics and Stakeholder Analysis. Business Ethics Quarterly 1 (1):53-73.
Brian P. Schaefer (2008). Shareholders and Social Responsibility. Journal of Business Ethics 81 (2):297 - 312.
Patrick E. Murphy (2009). The Relevance of Responsibility to Ethical Business Decisions. Journal of Business Ethics 90 (2):245 - 252.
Michelle Greenwood (2007). Stakeholder Engagement: Beyond the Myth of Corporate Responsibility. [REVIEW] Journal of Business Ethics 74 (4):315 - 327.
Dwight R. Lee & Richard B. McKenzie (1994). Corporate Failure as a Means to Corporate Responsibility. Journal of Business Ethics 13 (12):969 - 978.
John R. Boatright (1994). Fiduciary Duties and the Shareholder-Management Relation. Business Ethics Quarterly 4 (4):393-407.
Thomas L. Carson (1993). Does the Stakeholder Theory Constitute a New Kind of Theory of Social Responsibility? Business Ethics Quarterly 3 (2):171-176.
Andrew C. Wicks (2007). Corporate and Stakeholder Responsibility. Business Ethics Quarterly 17 (3):375-398.
Jerry D. Goodstein & Andrew C. Wicks (2007). Corporate and Stakeholder Responsibility: Making Business Ethics a Two-Way Conversation. Business Ethics Quarterly 17 (3):375-398.
Added to index2009-01-28
Total downloads62 ( #18,240 of 722,697 )
Recent downloads (6 months)1 ( #60,006 of 722,697 )
How can I increase my downloads?