Epistemic practices are an important but underappreciated component of business ethics; good conduct requires making epistemically sound as well as morally principled judgments. Well-founded judgments are promoted by epistemic virtues, and for organizations, epistemic virtues are arguably achieved through organizational good epistemic practices. But how are such practices to be developed? This paper addresses this normative and practical challenge. The first half of the paper explains what organizational good epistemic practices are and outlines a means for their construction. The second (...) half of the paper demonstrates how specific good epistemic practices could be developed by considering a case of corporate epistemic failings: JPMorgan’s notorious 2012 ‘London Whale’ trading losses. Following this, the paper briefly surveys the institutional epistemic failings of the 2008 global financial crisis and the remedial actions that they suggest. Although the discussion is focused on the banking industry, the main ideas, and some of the epistemic practices, generalize to organizations in other industries. (shrink)

How can we make businesspeople more concerned about the truth of the information they spread or allow to circulate? In this age of ‘fake news’, ‘business bullshit’ and ‘post-truth,’ the issue is of the utmost importance, especially for business trustworthiness in the internet economy. The issue is related to a kind of epistemic responsibility, that consists in accounting for one’s own epistemic wrongdoings, such as making a third party believe something false. Despite growing interest in epistemic misbehavior in the literature (...) of business ethics, the question of epistemic responsibility has been neglected. The aim of this paper is therefore to address this gap, by proposing a notion of epistemic responsibility for business, that may help regulate undesirable epistemic behavior, such as the spreading of false information. To define this notion of epistemic responsibility, I have introduced the concept of epistemic fault. Being epistemically responsible consists in being disposed to account for alleged epistemic faults. This notion of epistemic fault relies on a theoretical framework which combines a typology of eight ‘epistemic values’, a normative stance regarding these values, and a dispositional approach to epistemic virtues and vices. I use this theoretical framework to integrate the various accounts of epistemic virtues and vices found in the literature into a single explanatory scheme. Combined with the notion of epistemic responsibility itself, such an integrative framework should facilitate the practical application of an operational epistemic ethics in business, i.e., the development of virtuous epistemic practices. (shrink)