Abstract
Libertarian theories of the normative core of the corporation hold in common the view that is the responsibility of publicity held corporations to return profits to shareholders within the bounds of certain moral side-constraints. Side-constraints may be either weak (grounded in the rules of the game) or strong (grounded in rights). This essay considers libertarian arguments regarding the normative core of the corporation in the context of global capitalism and in the light of actual corporate behavior. First, it is argued the weak side-constraints view is conceptually incoherent when applied in a global context. Second, it is argued that proponents of the libertarian strong side-constraints view lack an adequate theory of rights. Third, both the weak side-constraints view and the strong side-constraints view are shown to be unsatisfactory insofar as they fail to adequately address the coercive power of corporations. The main conclusion of this essay is that a viable libertarian theory of the corporation has yet to be articulated.
Journal Information
The Journal of Business Ethics publishes original articles from a wide variety of methodological and disciplinary perspectives concerning ethical issues related to business. Since its initiation in 1980, the editors have encouraged the broadest possible scope. The term 'business' is understood in a wide sense to include all systems involved in the exchange of goods and services, while 'ethics' is circumscribed as all human action aimed at securing a good life. Systems of production, consumption, marketing, advertising, social and economic accounting, labour relations, public relations and organisational behaviour are analysed from a moral viewpoint. The style and level of dialogue involve all who are interested in business ethics – the business community, universities, government agencies and consumer groups. Speculative philosophy as well as reports of empirical research are welcomed. In order to promote a dialogue between the various interested groups as much as possible, papers are presented in a style relatively free of specialist jargon.
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Springer is one of the leading international scientific publishing companies, publishing over 1,200 journals and more than 3,000 new books annually, covering a wide range of subjects including biomedicine and the life sciences, clinical medicine, physics, engineering, mathematics, computer sciences, and economics.
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What is ethical egoism?
- a. The theory that every human action aims at some personal benefit.
b. The theory that altruism is impossible.
c. The theory that actions are morally right just because they promote one's self-interest.
d. The theory that it is permissible, but not obligatory, to value oneself over others.Which of the following accurately describes the relationship between ethical egoism and psychological egoism?
- a. If psychological egoism is true, this supports ethical egoism.
b. If ethical egoism is true, psychological egoism must be true.
c. They are competing theories about what we ought to do.
d. They are competing theories about the way humans actually behave.What would an ethical egoist say about a situation in which self-interest and morality conflict?
- a. One should do what morality demands.
b. One should do what self-interest demands.
c. One should sometimes do what morality requires and sometimes pursue self-interest.
d. Such a situation is impossible, according to ethical egoism.Which of the following rights do we have, according to ethical egoism?
- a. A right to not be physically assaulted.
b. A right not to have our property taken from us.
c. A right to pursue our own self-interest.
d. All of the above.According to the text, what is wrong with the Self-Reliance Argument?
- a. It is not true that all would be better off if everyone tended to his or her own needs.
b. The egoist cannot endorse the claim that we ought to do what benefits everyone.
c. Both a. and b.
d. Nothing; the argument is sound.What is the relationship between libertarianism and ethical egoism?
- a. If
libertarianism is true, ethical egoism must be true.
b. Libertarianism supports ethical egoism but does not require it.
c. Ethical egoism supports libertarianism but does not require it.
d. Libertarianism and ethical egoism are inconsistent.According to the text, what is the best argument for ethical egoism?
- a. Our moral obligations give us reasons,
and all reasons come from self-interest.
b. Everyone would be better off if everyone were an ethical egoist.
c. Libertarianism is true, and libertarianism requires ethical egoism.
d. None of the above.Which of the following is a problem for ethical egoism?
- a. It falsely claims that altruism is impossible.
b. It violates core moral beliefs.
c. It cannot explain why we have reason to be moral.
d. All of the above.According to ethical egoism, how should we regard the basic needs of others?
- a. They are just as important as our needs.
b. They are important but less important than our needs.
c. We should completely discount them.
d. We should seek to thwart them whenever possible.Which of the following claims about ethical egoism is not true?
- a. It cannot allow for the existence of moral rights.
b. It claims that everyone always behaves selfishly.
c. It arbitrarily makes one's own interests all-important.
d. It may require us to do things that seem like paradigmatic cases of immorality.