Packed with examples, this book offers a clear and engaging overview of ethical issues in business. It begins with a discussion of foundational issues, including the objectivity of ethics, the content of ethical theories, and the debate between capitalism and socialism, making it suitable for the beginning student. It then examines ethical issues in business in three broad areas. The first is the market. Issues explored are what can be sold (the limits of markets) and how it can be sold (ethics in marketing). The second is work. Topics in this area are health and safety, meaningful work, compensation, hiring and firing, privacy, and whistleblowing. The third area is the firm in society. Here readers explore corporate social responsibility, corporate political activity, and the set of ethical challenges that attend international business. Issues are introduced through real-world examples that underscore their importance and make them come alive. Arguments for opposing positions are given fair hearings and students are encouraged to develop and defend their own views. Key Features Introduces each topic with a real-world example, which is referenced regularly in the subsequent argument. Contains a critical evaluation of capitalism and socialism, with a focus on private property, the market system, and the welfare state. Explores the limits of markets and encourages students to ask what should and should not be for sale. Explores the phenomena of corporate political activity and ethical consumerism. Includes initial chapter overviews and - at the end of each chapter - study questions and suggested additional readings.

Packed with examples, this book offers a clear and engaging overview of ethical issues in business.

It begins with a discussion of foundational issues, including the objectivity of ethics, the content of ethical theories, and the debate between capitalism and socialism, making it suitable for the beginning student. It then examines ethical issues in business in three broad areas. The first is the market. Issues explored are what can be sold (the limits of markets) and how it can be sold (ethics in marketing). The second is work. Topics in this area are health and safety, meaningful work, compensation, hiring and firing, privacy, and whistleblowing. The third area is the firm in society. Here readers explore corporate social responsibility, corporate political activity, and the set of ethical challenges that attend international business.

Issues are introduced through real-world examples that underscore their importance and make them come alive. Arguments for opposing positions are given fair hearings and students are encouraged to develop and defend their own views.

Key Features

Introduces each topic with a real-world example, which is referenced regularly in the subsequent argument.

Contains a critical evaluation of capitalism and socialism, with a focus on private property, the market system, and the welfare state.

Explores the limits of markets and encourages students to ask what should and should not be for sale.

Explores the phenomena of corporate political activity and ethical consumerism.

Includes initial chapter overviews and – at the end of each chapter – study questions and suggested additional readings.

Table of Contents

1. Business, Ethics, and Business Ethics

1.1 What is Business?

1.2 What is Ethics?

1.3 Business Ethics and Business Law

1.4 Why Study Business Ethics?

1.5 What Is This Book Meant to Do and Not Do?

1.6 Plan of This Book

1.7 Chapter Summary

1.8 Study Questions

2. Skepticism about Ethics

2.1 Facts Versus Opinions

2.2 Truth

2.3 Proof

2.4 Chapter Summary

2.5 Study Questions

3. Ethics: Theory and Method

3.1 The Relevance of Ethical Theory

3.2 Ethical Theories

3.3 Searching for Common Ground

3.4 A Set of Principles

3.5 How to Make Progress

3.6 Chapter Summary

3.7 Study Questions

4. Political and Economic Systems

4.1 Capitalism Versus Socialism

4.2 The Welfare State

4.3 Private Versus Social Ownership of the Means of Production

4.4 Markets Versus Planning

4.5 Chapter Summary

4.6 Study Questions

5. What Can Be Sold?

5.1 Does It Work?

5.2 Is It Safe?

5.3 Is It Fit for Sale?

5.4 Chapter Summary

5.5 Study Questions

6. How Can It Be Sold?

6.1 What’s Good About Advertising?

6.2 Deception

6.3 Persuasion

6.4 Vulnerable Populations

6.5 Pricing

6.6 Chapter Summary

7.7 Study Questions

7. Ethics at Work, Part 1

7.1 Working at Amazon

7.2 Health and Safety

7.3 Meaningful Work

7.4 Control and Participation

7.5 Pay

7.6 Chapter Summary

7.7 Study Questions

8. Ethics at Work, Part 2

8.1 Who Is Hired? Who Can Be Fired?

8.2 Privacy at Work

8.3 Whistleblowing

8.4 Chapter Summary

8.5 Study Questions

9. Corporate Social Responsibility

9.1 Understanding the Issue

9.2 The Kind of Corporate Responsibility We Are Interested In

9.3 Merck and River Blindness

9.4 Milton Friedman and Shareholder Theory

9.5 R. Edward Freeman and Stakeholder Theory

9.6 CSR, the Shareholder/Stakeholder Debate, and Beneficence

9.7 Relying on Corporations

9.8 Chapter Summary

9.9 Study Questions

10. Business and Politics

10.1 Varieties of Corporate Political Activity

10.2 Corporate Political Activity that Makes the World a Better Place?

10.3 Corporate Political Activity and Private Interests: Against and For

10.4 Freedom of Expression

10.5 Corporate Political Activity and Democracy: Power and Equality

10.6 Corporate Political Activity and Democracy: Representation

10.7 Ethical Consumerism

10.8 Chapter Summary

10.9 Study Questions

11. Business Ethics Across Borders

11.1 The Garment Industry in Bangladesh

11.2 Cultural Relativism

11.3 Labor Conditions

11.4 Corruption and Bribery

11.5 Divestment

11.6 Chapter Summary

11.7 Study Questions

Since its inception thirty years ago, business ethics has benefited from the interdisciplinary contributions by management, political theory, sociology, and, of course, philosophy. This volume provides an updated examination of the role that moral and political philosophy can play in addressing problems in business ethics. The essays contained within its pages represent the work of new scholars and address a wide array of foundational issues such as distributive justice within firms, human rights, ethical challenges of international business, the role of virtue in business management, entrepreneurship and the relationship of markets and market actors with democratic institutions. In an important sense, this collection traces where philosophy has been and where it is headed within business ethics. Each of the contributions represent new work that, at once, strengthens the theoretical foundations of normative business ethics and provides practical insight for non-philosophers working in the field.

Since its inception thirty years ago, business ethics has benefited from the interdisciplinary contributions by management, political theory, sociology, and, of course, philosophy. This volume provides an updated examination of the role that moral and political philosophy can play in addressing problems in business ethics. The essays contained within its pages represent the work of new scholars and address a wide array of foundational issues such as distributive justice within firms, human rights, ethical challenges of international business, the role of virtue in business management, entrepreneurship and the relationship of markets and market actors with democratic institutions. In an important sense, this collection traces where philosophy has been and where it is headed within business ethics. Each of the contributions represent new work that, at once, strengthens the theoretical foundations of normative business ethics and provides practical insight for non-philosophers working in the field.