David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Ezio Di Nucci
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Business Ethics 54 (3):261 - 277 (2004)
This paper gives prescriptions for introducing ethical concerns into the economic theory of the firm. Topics include social responsibility, corporate governance, profit maximization, competition barriers, collusion, the market system, and welfare economics. The need for such prescriptions is based on a content analysis of 21 managerial economics texts for their coverage of ethics. My analysis finds that substantive discussions of ethics are conspicuous by their absence. As ethical breaches can involve significant monetary damages to a firm - particularly through adverse market reactions - moral-reasoning abilities can complement analytical skills. Consequently, my analysis demonstrates how ethics figure into the opportunity costs of managerial decision making, which is central to the economic definition of profit.
|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
Daniel G. Arce (2004). Conspicuous by its Absence: Ethics and Managerial Economics. Journal of Business Ethics 54 (3):259-274.
John R. Danley (1988). “Ought” Implies “Can”, or, the Moral Relevance of a Theory of the Firm. Journal of Business Ethics 7 (1-2):23 - 28.
Vidya N. Awasthi (2008). Managerial Decision-Making on Moral Issues and the Effects of Teaching Ethics. Journal of Business Ethics 78 (1-2):207 - 223.
Luk Bouckaert & Jan Vandenhove (1998). Business Ethics and the Management of Non-Profit Institutions. Journal of Business Ethics 17 (9-10):1073-1081.
Betsy Jane Clary, Wilfred Dolfsma & Deborah M. Figart (eds.) (2006). Ethics and the Market: Insights From Social Economics. Routledge.
George DeMartino (2010). The Economist's Oath: On the Need for and Content of Professional Economic Ethics. Oxford University Press.
Andrew Yuengert (2002). Why Did the Economist Cross the Road? The Hierarchical Logic of Ethical and Economic Reasoning. Economics and Philosophy 18 (2):329-349.
Michael Schwartz & Heath Spong (2009). Subjectivist Economics and Ethical Business. Journal of Business Ethics 90 (1):123 - 136.
Nien-Hê Hsieh (2007). Maximization, Incomparability, and Managerial Choice. Business Ethics Quarterly 17 (3):497-513.
Betty S. Coffey & Jia Wang (1998). Board Diversity and Managerial Control as Predictors of Corporate Social Performance. Journal of Business Ethics 17 (14):1595-1603.
Patrick Primeaux & John Stieber (1994). Profit Maximization: The Ethical Mandate of Business. [REVIEW] Journal of Business Ethics 13 (4):287 - 294.
Allen Kaufman & Ernie Englander (2011). Behavioral Economics, Federalism, and the Triumph of Stakeholder Theory. Journal of Business Ethics 102 (3):421-438.
Michaeleen Kelly (1989). Commentary on “an Empirical Study of Moral Reasoning Among Managers”. Journal of Business Ethics 8 (11):863 - 864.
Added to index2011-05-29
Total downloads4 ( #555,090 of 1,796,166 )
Recent downloads (6 months)1 ( #468,527 of 1,796,166 )
How can I increase my downloads?