By Alan Lewis, Karl-Erik Wärneryd
There was a striking progress of curiosity within the moral measurement of financial affairs. when the curiosity in enterprise ethics has been long-standing, it's been given renewed emphasis through excessive profile scandals on the planet of commercial and finance. while many economists, disenchanted with the discipline's emphasis on self-interest and individualism, and through the asocial nature of a lot financial conception, have sought to amplify the scope of economics by means of taking a look at moral questions. during this quantity a bunch of interdisciplinary students offer contributions which come with reviews of labor in enterprise ethics, empirical stories of such matters as social and moral making an investment, where of ethics within the new economics and views from different disciplines.
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Extra info for Ethics and Economic Affairs
Training on the basics of ‘how and why profits are made’ —topics that an American employer might take for granted—proved a necessary first step. Avoid initiatives that entail too much confrontation. Any initiative taken because of disagreement with current practices is likely to involve some confrontation. Care should be taken that the amount of confrontation involved in taking an initiative would not subvert the effectiveness of the initiative. Too much confrontation drains energies better spent elsewhere.
Kant talked about ‘The Categorical Imperative’ and claimed that ethical values could be tested through the question of what happened if the behaviour was practised by everyone. Etzioni adopts what he calls ‘a moderate deontology (with consequences as second consideration)’. He denounces the neoclassical theory’s single, isolated decision maker and suggests instead individuals with emotional and causal relations to collectivities. The latter involve shared identities and commitments to values. He maintains that adherence to shared values is often a matter not of expedient conformity but of internalization of moral values.
In this context the role of economic theory which is usually represented by neoclassical economic theory has been subjected to many discussions and exposed to criticism. Over the years, the neoclassical theory has been the object of many attacks, both from economists and from other social scientists, for not being realistic and for being too narrow in its assumptions about human behaviour. In the field of economic psychology, this has been a constant bone of contention with economists ever since, in 1881, the French social psychologist Gabriel Tarde wrote his first allegations against the psychological foundations of Adam Smith’s economic theory: Smith disregarded the important interactions between people.