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Honorable Business - A Framework for Business in a Just and Humane Society (Hardcover)
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Honorable Business - A Framework for Business in a Just and Humane Society (Hardcover)
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Business has a bad name for many people. It is easy to point to
unethical and damaging behavior by companies. And it may seem
straightforward to blame either indivuduals or, more generally,
ruthless markets and amoral commercial society. In Honorable
Business, James R. Otteson argues that business activity can be
valuable in itself. The primary purpose of honorable businesses is
to create value-for all parties. They look for mutually voluntary
and mutually beneficial transactions, so that all sides of any
exchange benefit, leading to increasing prosperity not just for one
person or for one group at the expense of others but simultaneously
for everyone involved. Done correctly, honorable business is a
positive-sum activity that can enable flourishing for individuals
and prosperity for society. Otteson connects honorable business
with the political, economic, and cultural institutions that
contribute to a just and humane society. He builds on Aristotle's
conception of human beings as purposive creatures who are capable
of constructing a plan for their lives that gives them a chance of
achieving the highest good for humanity, focusing on autonomy and
accountability, as well as good moral judgment. This good judgment
can enable us to answer the why of what we do, not just the how. He
also draws on Adam Smith's moral philosophy and political economy,
and argues that Smithian institutions have played a significant
role in the remarkable increase in worldwide prosperity we have
seen over the last two hundred years. Otteson offers a pragmatic
Code of Business Ethics, linked to a specific conception of
professionalism, and defends this Code on the basis of a moral
mandate to use one's limited resources of time, talent, and
treasure to provide value for oneself only by simultaneously
providing value to others. The result is well-articulated
parameters within which business can be an acceptable-perhaps even
praiseworthy-activity.
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