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| Author: | Christensen, S. L. Grinder, B. |
| Title: | Justice and financial market allocation of the social costs of business |
| Journal: | Journal of Business Ethics
2001 : JAN, VOL. 29:1-2, p. 105-112 |
| Index terms: | SOCIAL COSTS JUSTICE STOCKS |
| Language: | eng |
| Abstract: | Regulation is often applied to business behavior to ensure that the social costs of doing business are included in the cost and pricing structures of the firm. Because the customers benefits from the transaction that generated the social costs, asking the consumer to bear the burden imposed by the transaction is fair. However, there may be a lack of justice in the internal and external distribution of the social costs of doing business if consumers are the only partly bearing that burden, or the costs are being shifted to employees or taxpayers when a closer stakeholder is also benefiting from transactions. A social justice perspective requires that those benefiting from a transaction share in the burdens of it. The authors propose that a Tobin-like tax on stock transactions might be a just means of achieving great justice in the distribution of the social cost burden. |
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