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| Author: | Wagner-Tsukamoto, S. |
| Title: | An economic approach to business ethics: Moral agency of the firm and the enabling and constraining effects of economic institutions and interactions in a market economy |
| Journal: | Journal of Business Ethics
2005 : AUG I, VOL 60:1, p. 75-89 |
| Index terms: | Business ethics Competition Stakeholders Market economy Economic theory USA |
| Language: | eng |
| Abstract: | The paper deals with an alternative to a behavioural (economic) approach to business ethics (here as: bus-eths). Detailed is an economic understanding of bus-eths. with regard to classical (here as: cl.) and neo-classical (as: neo-cl.) views on the one hand, and institutional (as: inst.), libertarian (as: librt.) thought, on the other hand. It is suggested that moral agency can be economically viable in competitive 'market' interactions, which is conventionally disputed by cl. and neo-cl. and inst., librt. economics. Active moral agency of the firm is conceptualized as the utilization of ethical capital in firm - stakeholder interactions. |
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