search query: @indexterm Neo-classical economics / total: 22
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| Author: | Stormer, F. |
| Title: | Making the Shift: Moving from "Ethics Pays" to an Inter- Systems Model of Business |
| Journal: | Journal of Business Ethics
2003 : VOL. 44:4, p. 279-289 |
| Index terms: | SOCIAL RESPONSIBILITY NEO-CLASSICAL ECONOMICS STAKEHOLDERS ETHICS |
| Language: | eng |
| Abstract: | For several decades, business has operated according to the tenets of neoclassical economic theory, where the primary obligation of corporations is to maximize profit for shareholders. However, the larger social mandate for business has changed, represented by the rise of language such as "sustainable development", "corporate social responsibility" (CSR) and "stakeholder groups." Nevertheless, the theoretical shift implied by the use of such language has not occurred. Issues of sustainable development and CSR continue to be justified in the terms of neoclassical economic theory through the rationalization of "doing well by doing good". |
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