Starting from MacIntyre’s virtue ethics, we investigate several codes of conduct of banks to identify the type of virtues that are needed to realize their mission. Based on this analysis, we define three core virtues: honesty, due care, and accuracy. We compare and contrast these codes of conduct with the actual behavior of banks that led to the credit crisis and find that in some cases banks did not behave according to the moral standards they set themselves. However, although banks (...) and the professionals working in them can be blamed for what they did, one should also acknowledge that the institutional context of the free market economy in which they operated made it difficult to live up to the core values lying at the basis of the codes of conduct. Given the neo-liberal free market system, innovative and risky strategies to enhance profits are considered desirable for the sake of shareholder’s interests. A return to the core virtues in the financial sector will therefore only succeed if a renewed sense of responsibility in the sector is supported by institutional changes that allow banks to put their mission into practice. (shrink)

Starting from MacIntyre’s virtue ethics, we investigate several codes of conduct of banks to identify the type of virtues that are needed to realize their mission. Based on this analysis, we define three core virtues: honesty, due care, and accuracy. We compare and contrast these codes of conduct with the actual behavior of banks that led to the credit crisis and find that in some cases banks did not behave according to the moral standards they set themselves. However, although banks (...) and the professionals working in them can be blamed for what they did, one should also acknowledge that the institutional context of the free market economy in which they operated made it difficult to live up to the core values lying at the basis of the codes of conduct. Given the neo-liberal free market system, innovative and risky strategies to enhance profits are considered desirable for the sake of shareholder’s interests. A return to the core virtues in the financial sector will therefore only succeed if a renewed sense of responsibility in the sector is supported by institutional changes that allow banks to put their mission into practice. (shrink)

During the last years competition in the textile sector has increased, putting financial returns under considerable pressure. As a result, production has shifted to low wage countries in the third world. This has raised the relevance of ethical procedures. This paper analyses how C&A, as one of the largest Western apparel companies, organises its sourcing ethics, notwithstanding the financial pressure in the market. Based on interviews with Asian suppliers of C&A during the second half of 2000, we review the opinions (...) of external stakeholders about the sourcing ethics of C&A. Finally, we evaluate C&A’s sourcing ethics from a theoretical perspective. (shrink)

During the last years competition in the textile sector has increased, putting financial returns under considerable pressure. As a result, production has shifted to low wage countries in the third world. This has raised the relevance of ethical procedures. This paper analyses how C&A, as one of the largest Western apparel companies, organises its sourcing ethics, notwithstanding the financial pressure in the market. Based on interviews with Asian suppliers of C&A during the second half of 2000, we review the opinions (...) of external stakeholders about the sourcing ethics of C&A. Finally, we evaluate C&A’s sourcing ethics from a theoretical perspective. (shrink)

This paper considers the distribution of responsibility for prevention of negative social or ecological effects of production and consumption. Responsibility is related to ability and ability depends on welfare. An increase in competition between Western companies depresses their profitability, but increases the welfare of Western consumers and,hence, their ability to acknowledge social values. Therefore, an increase in competition on consumer markets shifts the balance in responsibility from companies to consumers to prevent negative external effects from production and consumption patterns. An (...) increase in competition on investor markets will shift the balance in an opposite direction. (shrink)

"We live in an uncertain world. The politics of the United States affects our lives more often than what is decided in the Hague or Brussels. Many people experience in their daily work a kind of powerlessness when they have to face the consequences of decisions that are taken far away, for example because they work with the daughter company of a multinational. More than ever we are depending on the “global economy”. We are — whether we like it or (...) not — part of a worldwide political and economic entity." This text occurred in a 2002 publication of the Dutch Council of Churches, entitled ‘Economy in the service of life’, and has proved to be prophetic. Because since then, and especially after 2008, the awareness of global dependence and associated impotence has only become stronger. Rarely in history have we observed how quickly economic changes materialize worldwide. (shrink)

This article clarifies the relationship between profits and principles by distinguishing four alternative perspectives: the win-win perspective in which ethical behaviour generates the highest profits; a licence-to-operate perspective in which a minimum ethical performance is required to receive legitimation from the society; an acceptable profits perspective, in which an acceptable profitability is required to assure the financial continuity; and an integrated perspective. These four perspectives are illustrated by statements from Shell reports and from interviews with managers of a large European (...) retail company. (shrink)

This paper investigates the possibilities and problems of benchmarking Corporate Social Responsibility (CSR). After a methodological analysis of the advantages and problems of benchmarking, we develop a benchmark method that includes economic, social and environmental aspects as well as national and international aspects of CSR. The overall benchmark is based on a weighted average of these aspects. The weights are based on the opinions of companies and NGO's. Using different methods of weighting, we find that the outcome of the benchmark (...) is rather robust for a sample of more than 50 large Dutch companies. (shrink)

The political philosopher Hannah Arendt develops several arguments regarding why truthfulness cannot be counted among the political virtues. This article shows that similar arguments apply to lying in business. Based on Hannah Arendt's theory, we distinguish five reasons why lying is a structural temptation to businessmen: business is about action to change the world and therefore businessmen need the capacity to deny current reality; commerce requires successful image-making and liars have the advantage to come up with plausible stories; business communication (...) is more often about opinions than about facts, giving leeway to ignore uncomfortable signals; business increasingly makes use of plans and models, but these techniques foster inflexibility in acknowledging the real facts; and businessmen easily fall prey to self-deception, because one needs to act as if the vision already materializes. The theory is illustrated by a case study of Landis, which grew from a relatively insignificant organization into a large one within a short period of time, but ended with outright lies and bankruptcy. (shrink)

The political philosopher Hannah Arendt develops several arguments regarding why truthfulness cannot be counted among the political virtues. This article shows that similar arguments apply to lying in business. Based on Hannah Arendt's theory, we distinguish five reasons why lying is a structural temptation to businessmen: business is about action to change the world and therefore businessmen need the capacity to deny current reality; commerce requires successful image-making and liars have the advantage to come up with plausible stories; business communication (...) is more often about opinions than about facts, giving leeway to ignore uncomfortable signals; business increasingly makes use of plans and models, but these techniques foster inflexibility in acknowledging the real facts; and businessmen easily fall prey to self-deception, because one needs to act as if the vision already materializes. The theory is illustrated by a case study of Landis, which grew from a relatively insignificant organization into a large one within a short period of time, but ended with outright lies and bankruptcy. (shrink)

In 2001 hield Johan J. Graafland zijn oratie Maatschappelijk ondernemen: analyse, verantwoording en fundering. Hiermee aanvaardde hij het ambt van bijzonder hoogleraar Economie, Onderneming en Ethiek aan de Universiteit van Tilburg. Graag wil ik Johan Graafland van harte feliciteren met zijn benoeming. Ik ervaar het toch steeds weer als een bijzondere zegen als christenen zo’n positie mogen bezetten. Ik wens hem veel vruchten toe op zijn arbeid. Op de nieuwjaarsconferentie 2002 van de Vereniging voor Reformatorische Wijsbegeerte (...) heeft Graafland een lezing gegeven waarin hij enkele momenten uit zijn oratie toelichtte. Op die conferentie mocht ik als co-referent optreden. De week voorafgaande aan de conferentie was ik voor een zakenreis in Taiwan. Ik kwam vrijdagsavonds weer in Nederland terug. Door een ongelukkige samenloop van omstandigheden kreeg ik ook toen pas de tekst van de oratie van Graafland in handen. De tijd was voor mij te kort — en de onvermijdelijke jet-lag werkt dan ook niet mee — om de oratie goed te bestuderen en op vruchtbare wijze te kunnen reageren. Ik had geen andere mogelijkheid dan een ‘eigen’ verhaal te houden . Graag wil ik nu van de gelegenheid gebruik maken om inhoudelijk op de oratie van Graafland in te gaan. (shrink)

Scholars have long been captivated by the parallels between birdsong and human speech and language. In this book, leading scholars draw on the latest research to explore what birdsong can tell us about the biology of human speech and language and the consequences for evolutionary biology. They examine the cognitive and neural similarities between birdsong learning and speech and language acquisition, considering vocal imitation, auditory learning, an early vocalization phase, the structural properties of birdsong and human language, and the striking (...) similarities between the neural organization of learning and vocal production in birdsong and human speech. After outlining the basic issues involved in the study of both language and evolution, the contributors compare birdsong and language in terms of acquisition, recursion, and core structural properties, and then examine the neurobiology of song and speech, genomic factors, and the emergence and evolution of language. Contributors: Hermann Ackermann, Gabriël J.L. Beckers, Robert C. Berwick, Johan J. Bolhuis, Noam Chomsky, Frank Eisner, Martin Everaert, Michale S. Fee, Olga Fehér, Simon E. Fisher, W. Tecumseh Fitch, Jonathan B. Fritz, Sharon M.H. Gobes, Riny Huijbregts, Eric Jarvis, Robert Lachlan, Ann Law, Michael A. Long, Gary F. Marcus, Carolyn McGettigan, Daniel Mietchen, Richard Mooney, Sanne Moorman, Kazuo Okanoya, Christophe Pallier, Irene M. Pepperberg, Jonathan F. Prather, Franck Ramus, Eric Reuland, Constance Scharff, Sophie K. Scott, Neil Smith, Ofer Tchernichovski, Carel ten Cate, Christopher K. Thompson, Frank Wijnen, Moira Yip, Wolfram Ziegler, Willem Zuidema. (shrink)

Quartz & Sejnowski's target article concentrates on the development of a number of neural parameters, especially neuronal processes, in the mammalian brain. Data on learning-related changes in spines and synapses in the developing avian brain are consistent with a constructivist interpretation. The issue of an integration of selectionist and constructivist views is discussed.

Inquiry into language evolution has been controversial, mainly because there is no consensus as to the nature of both ‘evolution’ and ‘language.’ Berwick and Chomsky make sense of the evolution of language by treating it as a biological phenomenon. In contrast to functional characterizations of language as ‘communication’ or ‘speech,’ the authors define it as, essentially, a mind-internal computational mechanism. Within their minimalist approach, hierarchical syntactic structure is achieved through the recursive application of a basic operation called ‘Merge.’ The simplicity (...) of the basic operation is consistent with archeological evidence suggesting an evolutionary recent origin of language. (shrink)

There are relatively few empirical studies on the impacts of corporate social responsibility policies and programs. This article addresses the research gap by analyzing the incidence of, and the conditions that affect, decoupling among CSR policies, implementation of CSR programs, and CSR impacts for various environmental and social issues. Complete decoupling is a condition of full divergence among policies, programs, and impacts amounting to purely ceremonial CSR. Using ratings from a sustainability rating agency on a sample of about 1,000 large (...) companies in 24 countries, the authors find empirical evidence not supporting a conclusion of complete decoupling. The empirical evidence suggests four levels of nondivergence in the sample. First, for most CSR issues examined, CSR policies of high quality do have relatively strong effects on CSR implementation. Second, CSR programs of high quality do have relatively strong effects on CSR impacts. Third, for most CSR issues, even low-quality CSR policies enforce the incidence and quality of programs in comparison with having no policy at all. Fourth, weak programs have more impact on the realization of CSR goals than having no program at all. The authors also find that the quality of CSR reporting and locating the responsibility for CSR at the board level reduce decoupling by strengthening the quality of CSR programs. (shrink)

This paper analyses the use of strategies and instruments for organising ethics by small and large business in the Netherlands. We find that large firms mostly prefer an integrity strategy to foster ethical behaviour in the organisation, whereas small enterprises prefer a dialogue strategy. Both large and small firms make least use of a compliance strategy that focuses on controlling and sanctioning the ethical behaviour of workers. The size of the business is found to have a positive impact on the (...) use of several instruments, like code of conduct, ISO certification, social reporting, social handbook and confidential person. Also being a subsidiary of a larger firm has a significant positive influence on the use of instruments. The most popular instrument used by small firms is to let one member of the board be answerable for ethical questions, which fits the informal culture of most small firms. With respect to sectorial differences, we find that firms in the metal manufacturing and construction sectors are more actively using formal instruments than firms in the financial service sector and retail sector. The distinction between family and non-family firms hardly affects the use of instruments. (shrink)

In this paper, we examine the relationship between various Christian denominations and attitude and behavior regarding consumption of socially responsible products. Literature on the relationship between religiosity and pro-social behavior has shown that religiosity strengthens positive attitudes towards pro-social behavior, but does not affect social behavior itself. This seems to contradict the theory of planned behavior that predicts that attitude fosters behavior. One would therefore expect that if religiosity encourages attitude towards SR products, it would also increase the demand for (...) them. We test this hypothesis for four affiliations on a sample of 997 Dutch consumers, using structural equation modeling. We find that Christian religiosity, indeed, increases positive attitude towards SR products, except for the Orthodox Protestant affiliation. In accordance with the theory of planned behavior, attitude is found to increase the demand for SR products. We find no evidence of hypocrisy for any of the Christian denominations. (shrink)

Corporate social responsibility (CSR) is becoming increasingly important in China. This paper investigates the implementation of instruments for dimensions of CSR that are relevant for the Chinese context and the challenges that Chinese companies face. Based on a survey among 109 Chinese companies, we find that formal instruments to implement CSR are rather common. Companies spend most effort in improving the economic aspects of CSR, such as competitiveness, product innovation and process innovation. Only a small minority of the companies set (...) concrete targets and report the realization of these targets for social and environmental goals. This indicates that the attention to social and environmental aspects of CSR is still rather loose. The most important challenges for improving CSR are strong competitive pressure, insufficient support from the government and/or nongovernmental organizations and high costs of CSR implementation. Multiple regression analysis shows that the use of instruments is positively related to company size and foreign ownership and negatively related to lack of resources and support for CSR by investors and consumers. (shrink)

Whether or not capitalism is compatible with ethics is a long standing dispute. We take up an approach to virtue ethics inspired by Adam Smith and consider how market competition influences the virtues most associated with modern commercial society. Up to a point, competition nurtures and supports such virtues as prudence, temperance, civility, industriousness and honesty. But there are also various mechanisms by which competition can have deleterious effects on the institutions and incentives necessary for sustaining even these most commercially (...) friendly of virtues. It is often supposed that if competitive markets are good, more competition must always be better. However, in the long run competition enhancing policies that neglect the nurturing and support of the bourgeois virtues may undermine the continued flourishing of modern commercial society. (shrink)

This paper explores the relationship between religious belief and the dilemmas Dutch executives confront in daily business practice. We find that the frequency with which dilemmas arise is directly related to various aspects of religious belief, such as the belief in a transcendental being and the intensity of religious practice. Despite this relationship, only 17% of the dilemmas examined involve a religious standard. Most dilemmas originate from a conflict between moral and practical standards. We also find that 79% of the (...) identified dilemmas stem from a conflict between two or more internalized standards of the executive. (shrink)

This paper explores the relationship between the Islamic religion and the level of socially responsible business conduct (SRBC) of Islamic entrepreneurs. The authors find that the common ideas of SRBC correspond with the view of business in Islam, although there are also some notable differences. They also find that Muslim entrepreneurs attach a higher weight to specific elements of SRBC than do non‐Muslims. However, they also find that Muslims are less involved with applying SRBC in practice than non‐Muslim managers.

This paper explores the relationship between the Islamic religion and the level of socially responsible business conduct (SRBC) of Islamic entrepreneurs. The authors find that the common ideas of SRBC correspond with the view of business in Islam, although there are also some notable differences. They also find that Muslim entrepreneurs attach a higher weight to specific elements of SRBC than do non‐Muslims. However, they also find that Muslims are less involved with applying SRBC in practice than non‐Muslim managers.

There are remarkable behavioral, neural, and genetic similarities between the way songbirds learn to sing and human infants learn to speak. Furthermore, the brain regions involved in birdsong learning, perception, and production have been identified and characterized in detail. In particular, the caudal medial nidopallium (the avian analog of the mammalian auditory‐association cortex) has been found to contain the neural substrate of auditory memory, paving the way for analyses of the underlying molecular mechanisms. Recently, the zebra finch genome was sequenced, (...) and annotated cDNA databases representing over 15,000 unique brain‐expressed genes are available, enabling high‐throughput gene expression analyses. Here we review the involvement of immediate early genes (e.g. zenk and arc), their downstream targets (e.g. synapsins), and their regulatory signaling pathways (e.g. MAPK/ERK) in songbird memory. We propose that in‐depth investigations of zenk‐ and ERK‐dependent cascades will help to further unravel the molecular basis of auditory memory. (shrink)

The prevailing view that there is significant cognitive continuity between humans and other animals is a result of misinterpretations of the role of evolution, combined with anthropomorphism. This combination has often resulted in an over-interpretation of data from animal experiments. Comparative psychology should do what the name indicates: study the cognitive capacities of different species empirically, without naive evolutionary presuppositions.

Among business ethicists, Adam Smith is widely viewed as the defender of an amoral if not anti-moral economics in which individuals’ pursuit of their private self-interest is converted by an ‘invisible hand’ into shared economic prosperity. This is often justified by reference to a select few quotations from The Wealth of Nations. We use new empirical methods to investigate what Smith actually had to say, firstly about the relationship between free market institutions and individuals’ moral virtues, and secondly about the (...) further relationship between virtues and societal flourishing. We show with more quantitative precision than traditional scholarship that the invisible hand reading dramatically misrepresents both the nuance and the sum of Smith’s analysis. Smith paid a great deal of attention to a flourishing society’s dependence on virtues, including the non-self-regarding virtues of justice and benevolence, and he worried also about their fragility in the face of the changed incentives and social conditions of commercial society. (shrink)

Unlike nonhuman primates, thousands of bird species have articulatory capabilities that equal or surpass those of humans, and they develop their vocalizations through vocal imitation in a way that is very similar to how human infants learn to speak. An understanding of how speech mechanisms have evolved is therefore unlikely to yield key insights into how the human brain is special.

The Dutch policy objective of a fully sustainable livestock sector without mutilations by 2023 is not compatible with the routine practice of tail docking to minimize the risk of tail biting. To examine farmer attitudes towards docking, a telephone survey was conducted among 487 conventional and 33 organic Dutch pig farmers. “Biting” (of tails, ears, or limbs) was identified by the farmers as a main welfare problem in pig farming. About half of the farmers reported to have no tail biting (...) problems in their own herd. When farmers did report problems, they most often reported figures between 1 and 5 % of the animals. High incidences of tail biting were anticipated when trying to keep undocked pigs. Enrichment materials used in the conventional sector included mainly chains (52–63 % of the farms) and hanging rubber or plastic balls (22–30 %). Straw, sawdust, or wood shavings was hardly provided in conventional pig farming (2–3 %), in contrast to organic farming (88–100 % of farms). Conventional pig farmers feel a curly tail is not very important for sustainable pig farming. They consider enrichment to be less effective and tail docking to be less stressful for them and their piglets than their organic colleagues do. Pig farmers identified climate as a main risk factor for tail biting as opposed to enrichment. The objective of reducing routine tail docking requires solutions for dealing with tail biting problems at the farm level. In this process, transfer of scientific knowledge about enrichment materials and other measures to prevent and cure tail biting is critical, as is a change in farmer attitudes and awareness of the moral issues involved. (shrink)

The Dutch policy objective of a fully sustainable livestock sector without mutilations by 2023 is not compatible with the routine practice of tail docking to minimize the risk of tail biting. To examine farmer attitudes towards docking, a telephone survey was conducted among 487 conventional and 33 organic Dutch pig farmers. “Biting” (of tails, ears, or limbs) was identified by the farmers as a main welfare problem in pig farming. About half of the farmers reported to have no tail biting (...) problems in their own herd. When farmers did report problems, they most often reported figures between 1 and 5 % of the animals. High incidences of tail biting were anticipated when trying to keep undocked pigs. Enrichment materials used in the conventional sector included mainly chains (52–63 % of the farms) and hanging rubber or plastic balls (22–30 %). Straw, sawdust, or wood shavings was hardly provided in conventional pig farming (2–3 %), in contrast to organic farming (88–100 % of farms). Conventional pig farmers feel a curly tail is not very important for sustainable pig farming. They consider enrichment to be less effective and tail docking to be less stressful for them and their piglets than their organic colleagues do. Pig farmers identified climate as a main risk factor for tail biting as opposed to enrichment. The objective of reducing routine tail docking requires solutions for dealing with tail biting problems at the farm level. In this process, transfer of scientific knowledge about enrichment materials and other measures to prevent and cure tail biting is critical, as is a change in farmer attitudes and awareness of the moral issues involved. (shrink)

Transparency is a crucial condition to implement a CSR policy based on the reputation mechanism. The central question of this contribution is how a transparency policy ought to be organised in order to enhance the CSR behaviour of companies. Governments endorsing CSR as a new means of governance have different strategies to foster CSR transparency. In this paper we discuss the advantages and disadvantages of two conventional policy strategies: the facilitation policy and the command and control strategy. Using three criteria (...) (efficiency, freedom and virtue) we conclude that both strategies are defective. Most attention is paid to the facilitation strategy since governments nowadays mainly use this. In evaluating this strategy we analyse the Dutch case. As an alternative we introduce a third government policy: the development of a self-regulating sub-system. By construing an analogy with the historical development of corporate financial disclosure, we point out that the vital step in the creation of a self-regulating subsystem is the creation of strong informational intermediate organisations. (shrink)

Transparency is a crucial condition to implement a CSR policy based on the reputation mechanism. The central question of this contribution is how a transparency policy ought to be organised in order to enhance the CSR behaviour of companies. Governments endorsing CSR as a new means of governance have different strategies to foster CSR transparency. In this paper we discuss the advantages and disadvantages of two conventional policy strategies: the facilitation policy and the command and control strategy. Using three criteria (...) (efficiency, freedom and virtue) we conclude that both strategies are defective. Most attention is paid to the facilitation strategy since governments nowadays mainly use this. In evaluating this strategy we analyse the Dutch case. As an alternative we introduce a third government policy: the development of a self-regulating sub-system. By construing an analogy with the historical development of corporate financial disclosure, we point out that the vital step in the creation of a self-regulating subsys- tem is the creation of strong informational intermediate organisations. (shrink)

Public interest theory has argued that lack of trust in companies may reduce support for free markets. The literature did not address, however, the underlying causes of lack of trust and support of free markets in customer’s perceptions of virtuousness in economic actors. Combining public interest theory with virtue theory and stakeholder trust theory of organizations, we surmise that if customers perceive that employees of companies have insufficient due care for customers’ interests, the perceived trustworthiness of those companies will be (...) low. Customers will then be more inclined to support government regulation in that particular sector or industry. In this paper, we test the relevance of these relationships for the banking sector using a representative sample of 5844 respondents in the Netherlands. We find that if bankers are perceived as persistent in their due care for customers, this encourages a perception that banks are trustworthy, which in turn induces support for free markets in banking and reduces the call for government regulation. An important management implication of our research is that banks should foster due care by means of employee-virtue training programs to enhance trust, thus generating more support for free market operations in the banking sector. (shrink)

This paper researches perceptions of the concept of price fairness in the Dutch coffee market. We distinguish four alternative standards of fair prices based on egalitarian, basic rights, capitalistic and libertarian approaches. We investigate which standards are guiding the perceptions of price fairness of citizens and coffee trade organizations. We find that there is a divergence in views between citizens and key players in the coffee market. Whereas citizens support the concept of fairness derived from the basic rights approach, holding (...) that the price should provide coffee farmers with a minimum level of subsistence, representatives of Dutch coffee traders hold the capitalistic view that the free world market price is fair. (shrink)

This paper researches perceptions of the concept of price fairness in the Dutch coffee market. We distinguish four alternative standards of fair prices based on egalitarian, basic rights, capitalistic and libertarian approaches. We investigate which standards are guiding the perceptions of price fairness of citizens and coffee trade organizations. We find that there is a divergence in views between citizens and key players in the coffee market. Whereas citizens support the concept of fairness derived from the basic rights approach, holding (...) that the price should provide coffee farmers with a minimum level of subsistence, representatives of Dutch coffee traders hold the capitalistic view that the free world market price is fair. (shrink)

The rise of liberal market economies, propagated by neoliberal free market thought, has created a vacant responsibility for public interests in the market order of society. This development has been critiqued by Catholic social teaching (CST), forcefully arguing that governments and businesses should be directed to the common good. In this debate, no attention has yet been given to the Reformational tradition and its principle of sphere sovereignty, which provides guidelines on the responsibilities of governments and companies for the public (...) interest of society. This article analyzes the differences and similarities between CST and the Reformational philosophy in their critiques of the neoliberal free market perspective of Hayek. We apply the three perspectives to the case of orphan drugs in the pharmaceutical industry and show that CST and the Reformational philosophy offer valuable insights in correction to Hayek’s views on the responsibilities of governments and companies for public health interests. (shrink)

Is Nederland een fraudeland geworden? Na alle berichten over boekhoudschandalen en het bekend worden van illegale prijsafspraken is het terecht dat die vraag wordt gesteld. Het oplichten van aandeelhouders of van klanten gaat in tegen verschillende ethische noties. Het verstrekken van onjuiste informatie is niet alleen vanuit een utilistisch standpunt verwerpelijk vanwege de economische schade die ontstaat doordat een optimale marktwerking belemmerd wordt. Ook vanuit een deontologisch perspectief staan de ethische seinen op rood: het bedriegen van aandeelhouders of klanten getuigt (...) van weinig respect en is onrechtvaardig omdat dit zelfverrijking mogelijk maakt ten koste gaat van de stakeholders. Ook vanuit het perspectief van de deugdenethiek zijn deze praktijken verwerpelijk: het achterhouden van informatie getuigt van een gebrek aan integriteit en heeft een negatieve voorbeeldfunctie naar anderen. (shrink)

This article critically analyzes the environmental economics paradigm of David Pearce and Robert Kerry Turner. Our analysis is inspired by the philosophy of Herman Dooyeweerd, in particular his transcendental criticism and theory of modalities. We describe how Pearce and Turner theorize the concept of sustainable development. On the basis of this description we identify immanent tensions in their approach and analyze to what extent these tensions are caused by implicit normative presuppositions in the key concepts used by Pearce and Turner. (...) Finally, we examine whether Dooyeweerd’s conception of the economic aspect can diminish these tensions. (shrink)