Journal of Business Ethics 90 (1):123-136 (2009)

A number of business ethics theorist have highlighted the potential for economics to contribute to the advancement of business ethics. In response, this article emphasizes the insights of a particular area of economics that could provide such expansion and development. Subjectivist economics may yet provide an effective analytical framework through which to investigate and evaluate business decision making, and hence the ethics of business. Integrating the concepts of uncertainty, time and imagination, subjectivist economic theory contributes to a greater appreciation of economic choice and behaviour. While such notions are often effectively omitted from modern economic analysis to aid formal representation, business ethicists could utilize such concepts more effectively than their colleagues in economic theory. Significantly, the well-known economists who have championed the insights of subjectivist economics have themselves recommended its extension to an analysis of ethics.
Keywords economics  ethics  Knight  Shackle  subjectivist economics
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DOI 10.1007/s10551-009-0032-1
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References found in this work BETA

Risk, Uncertainty and Profit.Frank Knight - 1921 - University of Chicago Press.
Does Business Ethics Make Economic Sense?Amartya Sen - 1993 - Business Ethics Quarterly 3 (1):45-54.
Economic Ethics, Business Ethics and the Idea of Mutual Advantages.Christoph Luetge - 2005 - Business Ethics: A European Review 14 (2):108-118.

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Citations of this work BETA

Gibbs and the Problems of Satisfaction and Well‐Being.Michael Schwartz - 2009 - Business Ethics, the Environment and Responsibility 18 (4):408-411.
Gibbs and the Problems of Satisfaction and Well-Being.Michael Schwartz - 2009 - Business Ethics: A European Review 18 (4):408-411.

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