The narrow application of Rawls in business ethics: A political conception of both stakeholder theory and the morality of markets

Journal of Business Ethics 97 (4):563-579 (2010)
This paper argues that Rawls’ principles of justice provide a normative foundation for stakeholder theory. The principles articulate (at an abstract level) citizens’ rights; these rights create interests across all aspects of society, including in the space of economic activity; and therefore, stakeholders – as citizens – have legitimate interests in the space of economic activity. This approach to stakeholder theory suggests a political interpretation of Boatright’s Moral Market approach, one that emphasizes the rights/place of citizens. And this approach to stakeholder theory – in terms of citizens – raises a further question, what rights and obligations do economic agents have, beyond those attached to their roles as citizens? Rawls would reject additional rights and obligations of this sort for two reasons, one tied to freedom and one tied to pluralism. Rawls’ work therefore presses us to re-conceptualize the place of ethical claims in the economic context.
Keywords Rawls  stakeholder theory (normative foundations)  social contract theory  Moral Markets approach  organizational ethics
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DOI 10.1007/s10551-010-0525-y
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References found in this work BETA
John Rawls (1993). Political Liberalism. Columbia University Press.
John Rawls (1999). The Law of Peoples. Harvard University Press.
R. Edward Freeman (1994). The Politics of Stakeholder Theory. Business Ethics Quarterly 4 (4):409-421.

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