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Books > Humanities > Philosophy > Topics in philosophy > Social & political philosophy
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Morality, Competition, and the Firm - The Market Failures Approach to Business Ethics (Paperback)
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Morality, Competition, and the Firm - The Market Failures Approach to Business Ethics (Paperback)
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In this collection of provocative essays, Joseph Heath provides a
compelling new framework for thinking about the moral obligations
that private actors in a market economy have toward each other and
to society. In a sharp break with traditional approaches to
business ethics, Heath argues that the basic principles of
corporate social responsibility are already implicit in the
institutional norms that structure both marketplace competition and
the modern business corporation. In four new and nine previously
published essays, Heath articulates the foundations of a "market
failures" approach to business ethics. Rather than bringing moral
concerns to bear upon economic activity as a set of foreign or
externally imposed constraints, this approach seeks to articulate a
robust conception of business ethics derived solely from the basic
normative justification for capitalism. The result is a unified
theory of business ethics, corporate law, economic regulation, and
the welfare state, which offers a reconstruction of the central
normative preoccupations in each area that is consistent across all
four domains. Beyond the core theory, Heath offers new insights on
a wide range of topics in economics and philosophy, from agency
theory and risk management to social cooperation and the
transaction cost theory of the firm.
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