Virtue ethics is generally recognized as one of the three major schools of ethics, but is often waylaid by utilitarianism and deontology in business and management literature. EBSCO and ABI databases were used to look for articles in the Journal of Citation Reports publications between 1980 and 2011 containing the keywords ‘virtue ethics’, ‘virtue theory’, or ‘virtuousness’ in the abstract and ‘business’ or ‘management’ in the text. The search was refined to draw lists of the most prolific authors, the most (...) cited authors, the most cited articles, and the journals with the most virtue ethics publications. This information allows one to chart how virtue ethics articles have evolved through the decades and to establish ‘schools’ or clusters of authors as well as clusters of themes. The results of this quantitative analysis of authors, ‘schools’, themes, and publications provide a foundation for the future study of virtue ethics in business and management, identifying its achievements and potentials. (shrink)

Business Ethics: A European Review, EarlyView.

The purpose of this article is to explain the differences between neo-Aristotelian virtue and positive organizational virtuousness from the virtue ethics perspective. Most studies use virtues and virtuousness interchangeably. A few others try to explain their differences from the positive organizational science perspective. Although closely related, we believe that these two notions are not identical. If we understand neo-Aristotelian virtue correctly, then it cannot be judged exclusively on what is externally verifiable, as is the case with virtuousness. For these reasons, (...) we attempt our own differentiation, highlighting the gains and losses realized in the migration from neo-Aristotelian virtue to positive organizational virtuousness, and establishing guideposts to meaningfully combine the strengths of both concepts. (shrink)

What contributions could we expect from Catholic Social Teaching (CST) on human dignity in relation to the dignity of work? This essay begins with an explanation of CST and its relevance for secular audiences. It then proceeds to identify the main features of human dignity based on the notion of imago Dei in CST. Next comes an analysis of the dignity of work in CST from which two normative principles are derived: the precedence of duties over rights and the priority (...) of the subjective dimension of work over the objective dimension. Afterwards, the “right to work” and the “rights of workers” are engaged with from this normative perspective, particularly within the context of globalization. (shrink)

ABSTRACTFinance may suffer from institutional deformations that subordinate its distinctive goods to the pursuit of external goods, but this should encourage attempts to reform the institutionalization of finance rather than to reject its potential for virtuous business activity. This article argues that finance should be regarded as a domain-relative practice. Alongside management, its moral status thereby varies with the purposes it serves. Hence, when practitioners working in finance facilitate projects that create common goods, it allows them to develop virtues. This (...) argument applies MacIntyre’s widely acknowledged account of the relationship between practices and the development of virtues while questioning some of his claims about finance. It also takes issue with extant accounts of particular financial functions that have failed to identify the distinctive goods of financial practice. (shrink)

Milton Friedman famously stated that the only social responsibility of business is to increase its profits, a position now known as the shareholder model of business. Subsequently, the stakeholder model, associated with Edward Freeman, has been widely seen as a heuristically stronger theory of the responsibilities of the firm to the society in which it is situated. Friedman’s position, nevertheless, has retained currency among many business thinkers. In this article, we argue that Friedman’s economic writings assume an economy in which (...) businesses operate under the protections of limited liability, which allows corporations to privatize their gains while externalizing their losses. By accepting limited liability, Friedman must also accept a view of business as embedded in social interdependency, which serves as the logical and moral foundation for corporate social responsibility (CSR). To achieve consistency with his economic principles, Friedman must either abandon limited liability or modify his doctrine on CSR and his related shareholder model of business. (shrink)

Not only individuals and firms, but also families engage in business as a social activity and this is true beyond the case of family businesses. Cultural differences in the way families are construed might influence the way they do business. There are different types of families, and among these are those described by Aristotelian and Confucian traditions, representing the West and the East respectively. The literature on virtue in business has been dominated by a Western—mainly Aristotelian—tradition : 8–24, 2014), neglecting (...) the role of the family and focusing on the individual. In this paper, we seek to fill this gap by explaining differences and similarities in the normative evaluation of certain family-related business attitudes and practices, in light of Confucian and Aristotelian virtue ethics standards. After comparing the structure, organization and dynamics of Aristotelian and Confucian families, we shall draw some inferences regarding “virtuous” or excellent business practices—such as nepotism, bribery, gift-giving and guanxi and attitudes—on codified rules or written norms. For this analysis we shall make use of Aristotelian and Confucian ethical accounts as well as inputs from Family Science applied to organizations, which provides conceptual categories to compare the two traditions. Thus we hope to contribute not only to the comparative study of Aristotelian and Confucian virtue ethics in business, but also to the understanding of the distinctive role of families, raising cultural awareness for what may be considered virtuous business practices according to the Aristotelian and Confucian traditions. (shrink)

In this article, we shall attempt to lay down the parameters within which the practice of the virtues may be enabled in the field of finance. We shall be drawing from the three main sources, Aristotle, Catholic Social Teaching and MacIntyre, on which virtue ethics is based. The research question is what ought to be done for financial activities to truly contribute to eudaimonia or human flourishing, to the achievement of three distinct kinds of goods as required of virtue, “those (...) internal to practices, those which are the goods of an individual life and those which are the goods of the community”, and to “[help] man on the path of salvation” in the midst of complex network of relationships in modern societies. These parameters could then be taken as conditions financiers ought to fulfill in order to live the virtues in their work and across different life spheres. (shrink)

This paper conducts an ethical analysis of the 2008 closure of a US money market fund entitled the reserve primary fund, which triggered the first run in the money market sector and a resultant liquidity crisis that harmed the entire US financial system. Although many academics and regulators have studied and written about RPF, the question whether the decision that caused the fund to collapse represented any ethical dilemma, has not been addressed to date. With this purpose in mind, the (...) paper will examine the events that culminated in the closure of RPF according to Alasdair MacIntyre’s virtue ethics approach. In so doing, the paper aims to extend the applicability of MacIntyre’s concepts to the finance industry in general, and to provide a framework to predict and so potentially prevent crises like that exemplified by the RPF case. (shrink)

Understanding what motivates employees is essential to the success of organizational objectives. Therefore, properly capturing and explaining the full range of such motivations are important. However, the classical and most popular theories describing employee motives have neglected, if not omitted entirely, the importance of the ethical and spiritual dimensions of motivation. This has led to a model of a person as self-interested, amoral, and non-spiritual. In this paper, we attempt to expose this omission and offer a more complete taxonomy of (...) motivations which include these dimensions. Although more work will need to be done to fully develop the ethical and spiritual dimensions of motivation, the expanded taxonomy will provide the foundations and serve as a guide for such further research. Furthermore, this new categorization of motivations brings out the full dimensions of being human, which promises to lead to improved management practices with regard to employees and foster greater human flourishing in the workplace. (shrink)

The abundance of literature on ethical concerns regarding artificial intelligence (AI) highlights the need to systematize, integrate, and categorize existing efforts through a systematic literature review. The article aims to investigate prevalent concerns, proposed solutions, and prominent ethical approaches within the field. Considering 309 articles from the beginning of the publications in this field up until December 2021, this systematic literature review clarifies what the ethical concerns regarding AI are, and it charts them into two groups: (i) ethical concerns that (...) arise from the design of AI and (ii) ethical concerns that arise from human–AI interactions. The analysis of the obtained sample highlights the most recurrent ethical concerns. Finally, it exposes the main proposals of the literature to handle the ethical concerns according to the main ethical approaches. It interprets the findings to lay the foundations for future research on the ethics of AI. (shrink)

Pricing policies and fair-trade practices are critical for sustaining commercial relationships between firms and customers. Nevertheless, in current business practices, fairness has been mistakenly reduced to a minimalistic ethic wherein justice only demands legal and explicit norms to which commercial parties voluntarily agree. Aimed at giving a different explanation of commercial agreements, this paper will introduce a Virtue Ethics (VE) explanation of the relationship between pricing and the common good by taking up classical concepts related to justice in commerce. In (...) particular, we will explore three principles associated with the notion of fairness in commerce as defined in Neo-Aristotelian ethics towards a relationship between a common good and justice in pricing, i.e., proportionality, benevolence and well-being. To exemplify how these criteria of justice apply to decision-making in commercial practices, we will discuss several cases of fair and unfair commercial relationships. (shrink)

Teaching business ethics effectively may prepare future leaders and managers to better deal with delicate situations that they might face in the workplace. However, such an aim is one of the biggest challenges that educators at universities are called on to solve. An increasing number of scholars are invoking the role of prudence in the virtue ethics context as a viable approach to teach students how to manage ethical dilemmas. In this regard, this paper discusses the “St. Albans Family Enterprises” (...) case study that can serve as an instrument to help students and practitioners develop their ethical decision-making ability and to foster a disposition towards applying sound judgment or what can be called in classical terms, prudence. The teaching note that accompanies the case study offers guidance to educators about how the case can be used for teaching purposes, and explains the implications of exercising practical wisdom within a virtue ethics framework. (shrink)

This case study can serve as an instrument to help students and practitioners develop their ethical decision-making ability, in particular practical wisdom within a virtue ethics framework. St. Albans Family Enterprises is a group of companies with three business lines: petrol stations, flower exportation and women´s fashion retail establishments, with around 300 employees and 20 stores in London, Liverpool, Manchester, Edinburgh and Bristol. Apparently, an alleged leakage of sensitive information took place at the Head Office, involving several employees who found (...) themselves in a delicate professional situation and who happened to be relatives. Senior management are facing ethical dilemmas with respect to these employees but also with respect to themselves who feel partly responsible for having generated such compromising situation for some employees. (shrink)

AbstractDuring the last 20 years, the financial sector has undergone an unprecedented transformation due to new regulations and the implementation of several technological advancements. The combination of regulation and technology has brought about new financial processes that have fundamentally changed how financial market making is done. This paper studies the ethics of financial market making and its implications for one of the most controversial financial innovations of modern times, namely high-frequency trading (HFT). We claim that the Aristotelian distinction between natural (...) chrematistics, which is aimed at serving the real economy, and unnatural chrematistics, whose ultimate purpose is wealth accumulation, can be a useful criterion to assess the ethics of financial market making and the goodness of an innovation as HFT, and how it can serve the common good of society. This approach can be defined as ‘purpose oriented’ or ‘purpose fulfillment’. (shrink)

Business and Society Review, Volume 127, Issue 1, Page 69-96, Spring 2022.

This paper aims to integrate the concept of autonomous and subordinated work into Aristotelian organizational theory by enhancing the epistemological framework of neo-Aristotelianism and by adding a Thomistic interpretation of organizational practical knowledge. We sustain that, in order to advance our understanding of the firm in terms of excellence and the common good, the concept of practical knowledge applied to organizational theory requires reflection on the nature of work in modern organizations. For this, we will explain how an organization that (...) aims for excellence is most appropriately defined as a community of autonomous work, how practical knowledge in organizations must be defined considering work as deliberative production and, finally, how productivity in organizations is best described when work is envisioned in terms of autonomy and subordination. (shrink)

The aim of this paper is to explore the ethical dimension of hawala, an ancient informal financial practice rooted in Islamic moral traditions. Widely used in countries with an Islamic background and their diasporas, hawala is considered an important vehicle for the financial and economic development of some less developed countries. Nevertheless, in Western countries, hawala is regarded with suspicion due its controversial ethical nature. Unlike other Islamic financial institutions, the controversial questions are not the legitimacy of profit sources or (...) the interest charged, but rather the lack of transparency that surrounds hawala transactions. Yet, the literature on hawala has neglected its ethical perspective. Our study delves into this dimension with a critical approach, using the Triple Font Theory, grounded on virtue ethics. We conclude that if hawala transactions are carried out with honesty, and fairness, this practice deserves a positive ethical appraisal. However, it is necessary to implement efficient regulatory measures to guarantee that the system is not abused by money launders and criminals. In practice, it becomes imperative to bring over a change in the regulatory approach to hawala toward a more ethically, culturally, and economically sensitive strategy. Thus, future research should focus on how “hyper-norms” or fundamental principles inherent to humanity, which are common to both “formal” and “informal,” “Western” and “non-Western” financial practices, could run the new AML/ctf regulation agenda. (shrink)

This paper analyzes the genderization of the difference between the beautiful and the sublime as it is stated in Kant's Observations on the feeling of the beautiful and the sublime. This difference is posed under the assumption of sexual difference, and not only a difference is stipulated but a hierarchization that places man in the sublime-rational pole above woman, located in the beautiful-sensitive pole, thus replicating an old metaphysical-androcentric tradition. From this initial proposal, the evolution of the same distinction is (...) analyzed, but in the context of the theory of aesthetic judgment raised in the Critique of judgement. The 1790 work, which continues to replicate the beautiful / sublime difference already operating in the 1764 essay, however, at the same time offers a theory of taste that places aesthetic judgment beyond the masculinist hierarchies of reason and understanding. The text proposes that explicit misogyny coexists in Kant's aesthetics with a theory of taste implicitly profitable for the deconstruction of the metaphysical dichotomies on which that misogyny is based. (shrink)

La atención al problema de la circulación internacional de las ideas se ha transformado en uno de los rasgos característicos de la renovación de la historia intelectual en los últimos años. La cuestión viene siendo abordada desde distintas perspectivas teóricas que han enriquecido las herramientas metodológicas del campo. Sin embargo, el problema de la "recepción" ha sido un interrogante persistente en culturas como las latinoamericanas que, por su condición "periférica", han enfrentado la experiencia de la traslación de sentidos desde su (...) propia emergencia. Resulta entonces pertinente enriquecer aquellos debates con las sugerencias que desde hace años viene aportando el ensayismo latinoamericano sobre la cuestión. Se abordan aquí distintos autores y discusiones que condensan con especial riqueza las múltiples aristas del problema. Los diferentes casos tratados contribuyen a delinear una concepción eminentemente activa de la recepción como reconfiguración permanente de sentidos, en el marco de una visión no esencialista de la cultura.The question of the international circulation of ideas has become one of the main problems of the intellectual history's renewal in the last years. The matter has been tackled from different theoretical perspectives that had enriched the field's methodological tools. However, the problem of "reception" has been a persistent question in Latin American cultures. Because of its "peripheral" condition, they have faced the experience of translating different meanings since their own emergence. Therefore, it is relevant to enrich those methodological discussions with the suggestions about the topic that have developed for some time in Latin American essays. This paper deals with several authors and discussions that condense the many aspects of this problem. The different cases discussed contribute to outline an active conception of reception as a continuous reconfiguration of meanings, within the framework of a not esencialist conception of culture. (shrink)

Este artículo analiza el fenómeno migratorio intrarregional abordando dinámicas de inclusión social informal al interior del sistema laboral. A partir del análisis de 32 relatos de vida a inmigrantes peruanos que han ascendido laboralmente en Chile, se propone que la baja ubicación de peruanos en el sistema de estratificación social chileno, condiciona su grado de dependencia a una inclusión informal al sistema laboral. Sin embargo, como efecto de la regularización de su estatus migratorio, del mayor conocimiento del campo laboral y (...) de la formalización de su capital social, es posible el despliegue de reacciones agenciales en función de una trayectoria ascendente en el mercado del trabajo. (shrink)

"Soy un ciudadano ejemplar. Voto siempre cada cuatro años... veo diariamente los programas del corazón en la tele y los sábados el fútbol... pago todos mis impuestos... tengo una cuenta en Facebook con muchos amigos que no conozco; hago mis compras en una gran superficie de consumo con mi tarjeta de crédito... no me meto con nadie... aunque esto de los inmigrantes no sé, no sé... opino en todo lo que opina la mayoría... que puede que venga a quitarnos nuestro (...) trabajo... este año cambiaré de coche... no doy problemas a las autoridades y en el trabajo procuro no tener problemas: obedezco y punto... En definitiva, cuando me miro al espejo por las mañanas me digo a mí mismo: soy un ciudadano ejemplar". "... se enfrascó tanto en las procelosas aguas de Internet que se le pasaban las noches conectado de claro en claro, y los días de turbio en turbio delante de su televisor; y así, del poco dormir y del mucho ver, se le secó el cerebro de manera que vino a perder el juicio. Llenósele la fantasía de todo aquello que veía en las pantallas, así de promesas falsas de la publicidad, como de zafiedades, pendencias, promesas falsas de los políticos, amoríos, mentiras, temores y disparates imposibles; y asentósele de tal modo en la imaginación que era verdad toda aquella maquinaria de soñadas invenciones que veía que para él no había otra historia más cierta en el mundo". "... Y Circe alimentó las mentes de todas aquellas criaturas y sus mentes quedaron en blanco, sin sustancia y sin sentido. A partir de entonces, el control del pensamiento fue el arte de la democracia porque, antes, en las dictaduras, se domesticaban los cuerpos a base de latigazos, y desde entonces se domesticaron las almas a base de imágenes". (shrink)

RESUMENUn atento examen de la conocida y problemática cuestión "¿qué es antes el huevo o la gallina?" sirve, en este breve escrito, de introducción metodológica al estudio filósofico de la vida orgánica. Una vez señalado lo incorrecto de la disyunción, se procede, mediante sucesivas ampliaciones, a una profundización teórica en sus implícitos, y, finalmente, a la detección del supuesto que la problematiza y que reside en el sentido pretendidamente unívoco del "antes". La multiplicidad de sentidos reales de la anterioridad pone (...) de manifiesto que el método adecuado para entender la vida orgánica es el método sistémico.PALABRAS CLAVETEORÍA DE LA VIDA-COSMOLOGÍA-ANTROPOLOGÍA-MÉTODO SITÉMICOABSTRACTA carefully study of the popular puzzle "what comes first, the chicken or the egg?" will serve in this short paper as a methodological introduction for the philosophical theory of organic life. After pointing that this disjunction is incorrect, I will arrive, by means of successive amplifications, at an in-depth theoretical study of their assumptions, ans, eventually, at the dislosure of the implicit aspects that make its understanding problematic and which are rooted in the supposed univocal meaning of "first". The multiplicity of actual meanings of priority makes clear that the systemic method is the appropriate one in order to understand organic life.KEYWORDSTHEORY OF LIFE-COSMOLOGY-ANTHROPOLOGY-SISTEMIC METHOD. (shrink)

Resumen En el presente artículo repasaremos someramente algunos de los hitos más reseñables de la historia militar del Imperio Romano Tardío, haciendo hincapié en el papel de los bárbaros que luchaban junto a los romanos, puesto que la barbarización del ejercito romano ha sido uno de los puntos de referencia en las investigaciones acerca de la decadencia y caída del Imperio Romano. En este sentido, haremos referencia al papel integrador que tuvo el ejército romano durante buena parte de la historia (...) del Imperio Romano, y señalaremos los principales hechos que condujeron al final de dicho papel; esbozando también las desastrosas consecuencias que tuvo este hecho para el futuro del Imperio, especialmente del Occidental. Palabras clave: Bárbaros, ejército, integración, migración, godos, reclutamiento.In this article we will briefly review some of the most important milestones in the military history of the Late Roman Empire. In it we will emphasize the role of the barbarians who fought with the Romans, since the barbarización of the Roman army is one of the points of reference in the investigations about the decay and fall of the Roman Empire. In this sense, we will refer to the role played by the Roman army in the integration of foreigners during a large part of the history of the Roman Empire. In addition, we will point out the main events that led to the end of this integrating role; we will also indicate the disastrous consequences this fact had for the future of the Empire, especially for the Western part. Key words: Barbarians, army, integration, migration, goths, recruitment. (shrink)

La construcción de las repúblicas iberoamericanas, si bien no contaba con un programa definido, tenía una pretensión de sistematicidad expresada en cada una de las Constituciones de los nuevos Estados. Esta pretensión, además de buscar un orden interno, también establecía un vínculo con las teorías políticas modernas que durante siglos se habían desarrollado en Europa. Se investiga este lazo tendido entre el Viejo y el Nuevo Continente, a través de la clave interpretativa de la idea de sistema, para explicar y (...) comprender los proyectos jurídico-políticos elaborados en América y sus posibles consecuencias en la vida de los pueblos. (shrink)

The most documented juridical studies about hispanic woman in the late Middle Ages, belong to three specialities: political law, civil or common law (matrimonial), and criminal law. It is in the sphere of matrimonial law where the influence of christian principles has been described as prominent, contributing to the juridical conjugal parity, thus recognizing woman a full civil capability.

From the 12th to the 15th centuries, women were better considered in Canon Law than in Civil Law. The Church accepted the way of thinking and the civil laws of the period, but defended the basic content of Natural Law concerning the dignity of the womanhood.