Business Ethics: A European Review 24 (3):332-346 (2015)
Abstract |
The gap between economic rationality, as embedded in utility maximization, and ethical rationality, identified with a set of rules that prescribe the right course of action, has been a challenging issue for economists, philosophers, and business ethicists. Despite the difference and the noncompetition between a scientific economic approach of economics and business ethics, and a behavioral and philosophical one, we highlight the importance of the Aristotelian concept of prudence or phronesis applied to business activity. Phronesis allows for a conceptualization of rationality that can be simultaneously applied to economics and ethics. It also allows conceiving the intrinsically ethical nature of economic rationality. This relationship requires an appropriate education and the intervention of the state
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DOI | 10.1111/beer.12077 |
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References found in this work BETA
After Virtue: A Study in Moral Theory.Alasdair C. MacIntyre - 1983 - University of Notre Dame Press.
Ethics and Excellence: Cooperation and Integrity in Business.Robert C. Solomon - 1992 - Oxford University Press.
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Citations of this work BETA
The Virtue of Participatory Governance: A MacIntyrean Alternative to Shareholder Maximization.Caleb Bernacchio & Robert Couch - 2015 - Business Ethics: A European Review 24 (S2):130-143.
Phronesis in Administration and Organizations: A Literature Review and Future Research Agenda.Maria Clara Figueiredo Dalla Costa Ames, Maurício Custódio Serafim & Marcello Beckert Zappellini - 2020 - Business Ethics: A European Review 29 (S1):65-83.
“Me” Versus “We” in Moral Dilemmas: Group Composition and Social Influence Effects on Group Utilitarianism.Petru Lucian Curşeu, Oana C. Fodor, Anișoara A. Pavelea & Nicoleta Meslec - 2020 - Business Ethics: A European Review 29 (4):810-823.
The Morals of Moral Hazard: A Contracts Approach.McCaffrey Matthew - 2017 - Business Ethics: A European Review 26 (1):47-62.
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