Business Ethics

 

Business ethics  ethics  From Wikipedia, the free encyclopedia

ethics  or  professional ethics ethics  that examines Business ethics (also ethics (also corporate ethics) ethics) is a form of  applied ethics ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of [1]

business conduct and is relevant to the conduct of individuals and entire organizations. organizations.   Business ethics has both  both normative normative  and descriptive dimensions. As a corporate practice and a career specialization, the field is primarily normative. Academics attempting to understand business behavior employ descriptive methods. The range and quantity of business ethical issues reflects the interaction of profitmaximizing behavior with non-economic concerns. Interest in business ethics accelerated dramatically during the 1980s and 1990s, both within major corporations and within academia. For example, today most major corporations promote their commitment to non-economic values under headings such as ethics codes and social responsibility charters. Adam Smith said, "People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance [2]

[2] to raise prices." prices."  Governments use laws and regulations to point business behavior in what they perceive to be

beneficial directions. Ethics implicitly regulates areas and details of behavior that lie beyond governmental govern mental [3]

control..[3] The emergence of large corporations with limited relationships and sensitivity to the communities in control [4]

which they operate accelerated the development of formal ethics regimes. regimes.[4]  Contents [hide] hide] 

 

1 History  History 

 

Overview   2 Overview

 

3 Functional business areas  areas 

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Finance    3.1 Finance 

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  3.2 Other issues issues  

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  3.3 Human resource management  management 

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marketing     3.4 Sales and marketing

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  3.5 Production  Production 

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  3.6 Property Property  

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  3.7 Intellectual property property  

 

issues  4 International issues 

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5 Economic systems  systems 

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6 Law and regulation  regulation 

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7 Implementation  Implementation  o

  7.1 Corporate policies  policies 

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  7.2 Ethics officers  officers 

 

8 Academic discipline  discipline 

 

views  9 Religious views 

 

10 Related disciplines  disciplines 

 

also  11 See also 

 

References   12 References

 

13 Further reading  reading 

 

14 External links  links 

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History[edit] edit]  Business ethical norms reflect the norms of each historical period. As time passes norms evolve, causing accepted behaviors to become objectionable. Business ethics and the resulting behavior evolved as well. [5][6][7] ][7]

[8][9]

[10][11]

slavery,,[5][6  colonialism, colonialism,[8][9] and the  the cold war .[10][11]  Business was involved in  in slavery The term 'business ethics' came into common use in the United States in the early 1970s. By the mid-1980s at least 500 courses in business ethics reached 40,000 students, using some twenty textbooks and at least ten casebooks along supported by professional societies, centers and journals of business ethics. The Society for Business Ethics was started in 1980. European business schools adopted business ethics after 1987 [12][13

][14][15]  In 1982 the first single-authored commencing with the European Business Ethics Network (EBEN). (EBEN) .[12][13][14][15]

books in the field appeared. appeared.[16][17]  Firms started highlighting their ethical stature in the late 1980s and early 1990s, possibly trying to distance themselves from the business scandals of the day, such as the  the  savings and loan crisis. crisis . The idea of business ethics caught the attention of academics, media and business firms by the end of the  the  Cold [13][18][19] ][19] War .[13][18  However, legitimate criticism of business practices was attacked for infringing the "freedom" [20][21] of  entrepreneurs  entrepreneurs and critics were accused of supporting supporting  communists. communists.  This scuttled the discourse of [22]

business ethics both in media and academia. academia.[22] 

Overview[edit] edit]  Business ethics reflects the  the philosophy of business, business, one of whose aims is to determine the fundamental purposes of a company. If a company's purpose is to maximize shareholder returns, then sacrificing profits to other concerns is a violation of its  its  fiduciary responsibility responsibility.. Corporate entities are legally considered as persons in USA and in most nations. The 'corporate persons' are legally entitled to the rights and liabilities due to citizens as persons.

 

Economist  Milton Friedman Economist Friedman  writes that corporate executives' "responsibility... generally will be to make as much money as possible while conforming to their basic rules of the society, both those embodied in law and those embodied in ethical custom". custom".[23] Friedman also said, "the only entities who can have responsibilities are individuals ... A business cannot have responsibilities. So the question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for [23][24][25] ][25] A their stockholders as possible? And my answer to that is, no, they do not." not. "[23][24  A multi-country 2011 survey [26]

found support for this view among the "informed public" ranging from 30 to 80%. 80% .

 Ronald Duska Duskaviews views

than pragmatic pragmatic,, implying that unrestrained corporate freedom Friedman's argument as  as consequentialist  consequentialist rather than  [27][28]

would benefit the most in long term. term.[27][28] Similarly author business consultant  consultant  Peter Drucker  observed, "There is neither a separate ethics of business nor is one needed", implying that standards of personal ethics cover all business situations. situations.

[29]

 However, Peter Drucker in another instance observed that the ultimate responsibility of [30]

company directors is not to harm— harm — primum non nocere. nocere.

  Another Another view of business is that it must

exhibit  corporate social responsibility  exhibit responsibility (CSR): an umbrella term indicating that an ethical business must act as a responsible citizen of the communities in which it operates even at the cost of profits or other [31][32][33][34][35] ][35]  In the US and most other nations corporate entities are legally treated as persons in some goals..[31][32][33][34 goals

respects. For example, they can hold title to property, sue and be sued and are subject to taxation, although their  free speech  speech rights are limited. This can be interpreted to imply that they have independent ethical responsibilities.[citation needed ] Duska argues that stakeholders have the right to expect a business to be ethical; if business has no ethical obligations, other institutions could make the same claim which would be [27]

counterproductive to the corporation. corporation.[27]  Ethical issues include the rights and duties between a company and its  employees, suppliers, customers and neighbors,, its  neighbors  its fiduciary fiduciary  responsibility to its  its shareholders shareholders.. Issues concerning relations between different take-overs  and  and industrial espionage espionage.. Related issues include  include corporate companies include  include hostile take-overs governance;;corporate social entrepreneurship governance entrepreneurship;; political contributions contributions;; legal issues such as the ethical debate [citation

over introducing a crime of  corporate manslaughter ; and the marketing of corporations' ethics policies. needed ]  According to  to IBE/ IBE/ Ipsos MORIr  MORIr e esearch search published in late 2012, the three major areas of public concern regarding business ethics in Britain are executive pay, corporate tax avoidance and bribery and corruption corruption.. [36] 

Functional business areas[edit] edit]  edit]]  Finance[edit [37]

borders behavioral economics economics,,  Fundamentally, finance is a social science discipline. discipline. [37] The discipline borders  sociology,[38] economics, accounting and management. It concerns technical issues such as the mix of debt sociology, equity,, dividend policy, policy, the evaluation of alternative investment projects, projects,  options, options, futures futures,, swaps, swaps, and and  equity and who?] derivatives,, portfolio portfolio  diversification diversification  and many others. It is often mistaken [who?] other  derivatives  to be a discipline free from

The  2008 financial crisis  crisis caused critics to challenge the ethics of the executives in charge of ethical burdens. burdens.[37] The

 

[39]

U.S. and European financial institutions instit utions and financial regulatory bodies bodies..[39] Finance ethics is overlooked for [40]

another reason— reason—issues in finance are often addressed as matters of law rather than ethics. ethics . [40] 

Finance paradigm[edit edit]]   Aristotle  life"..  Aristotle said, "the end and purpose of the polis is the good life"

[41]

 Adam Smith   Adam Smith characterized the good life in [42]

terms of material goods and intellectual and moral excellences of character .[42]Smith in his  his The Wealth of Nations  commented, "All for ourselves, and nothing for other people, seems, in every age of the world, to have Nations been the vile maxim of the masters of mankind." mankind."[43]  Wikiquote has a collection of quotations related to:  to: Adam Smith   

However, a section of economists influenced by the ideology of  neoliberalism, neoliberalism, interpreted the objective of growth  through accelerated  accelerated consumption  consumption and  and production  production of  goods economics to be maximization of  economic growth [44]

and services. services.

 Neoliberal ideology promoted finance from its position as a component of economics to its

[citation needed ]

core.  Proponents of the ideology hold that unrestricted financial flows, if redeemed from the shackles [citation needed ] [45]  The theory holds that open of "financial repressions", repressions",  best help impoverished nations to grow. financial systems accelerate economic growth by encouraging foreign capital inflows, thereby enabling higher [46][47

][48][49] levels of savings, investment, employment, productivity and "welfare", "welfare",[46][47][48][49]  along with containing

corruption.. corruption

[50]

Neoliberals recommended that governments open their financial systems to the global market with [51][52

][53][54][55] ][55] minimal regulation over capital flows. flows.[51][52][53][54  The recommendations however, met with criticisms from

various schools of ethical philosophy. Some  Some  pragmatic ethicists, ethicists, found these claims to unfalsifiable and a priori, although neither of these makes the recommendations false or unethical per se. se .

[56][57][58] ][58] [56][57

 Raising economic

growth to the highest value necessarily means that welfare is subordinate, although advocates dispute this saying that economic growth provides more welfare than known alternatives. alternatives.[59] Since history shows that neither regulated nor unregulated firms always behave ethically, neither regime offers an [60][61][62] 1][62] ethical  panacea ethical panacea..[60][6  

Neoliberal recommendations to developing countries to unconditionally open up their economies to transnational finance corporations was fiercely contested by some ethicists. ethicists.

[63][64][65][66 ][65][66][67] ][67] [63][64

The claim that [68][69

][70] deregulation and the opening up of economies would reduce corruption was also contested. contested. [68][69][70]  

Dobson observes, "a rational agent is simply one who pursues personal material advantage ad infinitum. In essence, to be rational r ational in finance is to be individualistic, materialistic, and competitive. Business is a game played by individuals, as with all games the object is to win, and winning is measured in terms solely of material wealth. Within the discipline this rationality concept is never questioned, and has indeed become the theory-ofthe-firm's sine qua non". non".[71][72] Financial ethics is in this view a mathematical function of shareholder wealth.

 

Such simplifying assumptions were once necessary for the construction of mathematically robust models.[73] However  signalling theory models. theory  and  and agency theory  theory extended the paradigm to greater realism. realism.[74] 

edit]]  Other issues[edit Fairness in trading practices, trading conditions, financial contracting, sales practices, consultancy services, tax payments, internal audit, external audit and  and executive compensation compensation  also fall under the umbrella of finance and include:  creative accounting, accounting, earnings management, management,  accounting..[40][75] Particular corporate ethical/legal abuses include: accounting misleading financial analysis,  analysis, insider trading, trading,securities fraud fraud,, bribery bribery//kickbacks and  and facilitation payments. payments.  and forex scams scams  are criminal manipulations of financial markets. Cases Outside of corporations,  corporations, bucket shops  shops and  [citation needed ] include  accounting scandals include   scandals,, Enron, Enron, WorldCom WorldCom  and  and Satyam. Satyam.

Human resource management[edit] edit]  Human resource management management  occupies the sphere of activity of  recruitment  recruitment selection, orientation,  orientation, performance appraisal,, training and development appraisal development,, industrial relations  relations and  and health and safetyi safetyissues. ssues.[76] Business Ethicists differ in their orientation towards labour ethics. Some assess human resource policies according to whether they support an egalitarian workplace and the dignity of labor .

[77][78][79] ][79] [77][78

 

Issues including  including employment itself , privacy, privacy, compensation in accord with  with  comparable worth, worth, collective bargaining  (and/or its opposite) can be seen either as inalienable rights bargaining

[80][81]

 or as

[82][83

][84][85][86] ][86] negotiable.[82][83][84][85 negotiable.  Discrimination Discrimination  by age (preferring the  the young young  or the  the old) old), gender /sexual

harassment,, race, harassment race, religion, religion, disability disability,, weight and attractiveness. A common approach to remedying discrimination is  is affirmative action. action.  Potential employees have ethical obligations to employers, involving intellectual property protection and  whistle-blowing and whistle-blowing..  safety,, which may involve modifying the workplace, or providing Employers must consider  workplace safety appropriate training or hazard disclosure. Larger economic issues such as  as  immigration, immigration, trade policy, policy, globalization  globalization and  and trade unionism unionism  affect workplaces [80][87

][88]   and have an ethical dimension, but are often beyond the purview of individual companies. companies.[80][87][88]

Trade unions[edit] edit]  Unions for example, may push employers to establish  establish due process  process for workers, but may also cost jobs by demanding unsustainable compensation and work rules. rules .

[89][90][91][9 2][93][94][95][9 4][95][96][97][98] 6][97][98] [89][90][91][92][93][9

 

and strike breaking  breaking and face the ethical implications of work Unionized workplaces may confront  confront  union busting  busting and  rules that advantage some workers over others.

Management strategy[edit edit]] 

[citation needed ]

 

 

 Among the many people management strategies that companies employ are a "soft" approach that regards employees as a source of creative energy and participants in workplace decision making, a "hard" version explicitly focused on control control

[99]

 and  and Theory Z Z  that emphasizes philosophy, culture and consensus. consensus.

[100]

 None

[101]

ensure ethical behavior .[101] Some studies claim that sustainable success requires a humanely treated and satisfied workforce. workforce.

[102][103][104] [102][103][104]

 

Sales and marketing[edit edit]]  ethics   Main article:  article: Marketing ethics Marketing of age only as late as 1990s. 1990s.[105] Marketing ethics was approached from ethical perspectives of virtue ethics,, deontology deontology,, consequentialism consequentialism,, pragmatism pragmatism  and relativism. relativism. or  virtue ethics

[106][107]

 

Ethics in marketing deals with the t he principles, values and/or ideals by which marketers (and marketing institutions) ought to act. act .

[108]

 Marketing ethics is also contested terrain, beyond the previously described issue

of potential conflicts between profitability and other concerns. Ethical marketing issues include marketing redundant or dangerous products/services products/services

[109][110 [109][110][111] ][111]

transparency about environmental risks, transparency

ingredients  such as  as genetically modified organisms about  product ingredients about

[112][113][11 [112 ][113][114][115] 4][115]

 possible health risks, financial

[116]

[117] risks, security risks, etc., etc.,[116] respect for consumer privacy and autonomy, autonomy,  advertising  advertising truthfulness and

pricing  & distribution distribution.. fairness in  in pricing

[118]

 

 According to Borgerson, and Schroeder (2008), marketing can influence individuals' perceptions of and interactions with other people, implying an ethical responsibility to avoid distorting those perceptions and interactions.. interactions

[119]

 

Marketing ethics involves pricing practices, including illegal actions such as as  price fixing  fixing and legal actions including  price discrimination  including discrimination and  and price skimming skimming.. Certain promotional activities have drawn fire, switch,, shilling shilling,, viral marketing, marketing, spam (electronic) (electronic),, pyramid including  greenwashing, including greenwashing, bait and switch schemes  and schemes and  multi-level marketing. marketing. Advertising has raised objections about  about  attack ads ads,,subliminal messages,, sex in advertising messages advertising  and  and marketing in schools. schools. 

Production[edit] edit]  This area of business ethics usually deals with the duties of a company to ensure that products and production processes do not needlessly cause harm. Since few goods and services can be produced and consumed with zero risk, determining the ethical course can be problematic. In some case consumers demand products that harm them, such as  as tobacco tobacco  products. Production may have environmental impacts, including  including pollution, pollution, habitat destruction  and destruction and  urban sprawl sprawl.. The downstream effects of technologies  technologies  nuclear power , genetically modified food  and food and  mobile phones phonesmay may not be well understood. While the  the precautionary principle  principle may prohibit introducing new technology whose consequences are not fully understood, that principle would have prohibited most new

 

technology introduced since the  the industrial revolution revolution.. Product testing protocols have been attacked for violating [citation needed ] the rights of both  both humans   humans  and  and animals. animals.

Property[edit edit]]  rights   Main article:  article: Private property , and  Property rights [120]

'proprius'  which refers to 'nature', 'quality', 'one's own', 'special The etymological root of property is the  the Latin  Latin 'proprius' characteristic', 'proper', 'intrinsic', 'inherent', 'regular', 'normal', 'genuine', 'thorough, complete, perfect' etc. The word property is value loaded and associated with the personal qualities of propriety and respectability, also implies questions relating to ownership. A 'proper' person owns and is true to herself or himself, and is thus [121]

genuine, perfect and pure pure..[121] 

edit]]  Modern history of property rights [edit Modern discourse on property emerged by the turn of 17th century within theological discussions of that time. For instance,  instance, John Locke Locke  justified   justified property rights rights  saying that God had made "the earth, and all inferior [122][123][124][125] ][124][125]   creatures, [in] common to all men" men"..[122][123

In 1802 1802  Utilitarian  Utilitarian Jeremy Bentham  Bentham stated, "property and law are born together and die together". together" .[126][127]  One argument for property ownership is that it enhances individual liberty by extending the line of noninterference by the state or others around the person. person .

[128]

 Seen from this perspective, property right is absolute

and property has a special and distinctive character that precedes its legal protection. Blackstone conceptualized property as the "sole and despotic dominion which one man claims and exercises over the external things of the world, in total exclusion of the right of any other individual in the universe". universe" .

[129]

 

edit]]  Slaves as property[edit During the seventeenth and eighteenth centuries, slavery spread to European colonies including America, where colonial legislatures defined the legal status of slaves as a form of property. property.[130]During this time settlers began the centuries-long process of dispossessing the natives of America of millions of acres of [131]

land.. land

2

 Ironically, the natives lost about 200,000 square miles (520,000 km ) of land in the  the Louisiana

[132][133][134] ][134] Territory  under the leadership of  Thomas Jefferson, Territory Jefferson, who championed property rights. rights .[132][133  

Combined with theological justification, property was taken to be essentially natural ordained by [135]

God.. God

 Property, which later gained meaning as ownership and appeared natural to Locke, Jefferson and to [136]

many of the 18th and 19th century intellectuals intellectual s[136] as land, labour or idea[137] and property right over slaves had [138][139][140][141][142][143] ][142][143] theological  and and  essentialized j  justificatio ustification n[138][139][140][141  It was even held that the property in the same  same theological [144][145]

slaves was a sacred right. right.[144][145] Wiecek noted, "slavery was more clearly and explicitly established under the [146]

Accordingly, US Supreme Court Court  Chief Justice  Justice Roger B. Constitution as it had been under the Articles". Articles" .[146]  Accordingly, 

 

Taney Taney  in his 1857 judgment stated, "The right of property in a slave is distinctly and expressly affirmed in the Constitution".

Natural right vs social construct[edit] edit]  [147][148]

Neoliberals hold that private property rights are a non-negotiable natural right. right .[147][148] Davies counters with "property is no different from other legal categories in that it is simply a consequence of the significance attached by law to the relationships between legal persons." persons."

[149][150]

 Singer claims, "Property is a form of power,

and the distribution of power is a political problem of the highest order". order" .[151][152] Rose finds, "'Property' is only an effect, a construction, of relationships between people, meaning that its objective character is contestable. Persons and things, are 'constituted' or 'fabricated' by legal and other normative techniques.". techniques." .

[153][154]

 Singer

observes, "A private property regime is not, after all, a Hobbesian state of nature; it requires a working legal system that can define, allocate, and enforce property rights." rights. "

[155]

 Davis claims that common law theory

generally favors the view that "property is not essentially a 'right to a thing', but rather a separable bundle of rights subsisting between persons which may vary according to the context and the object which is at [149]

stake"..[149]  stake" In common parlance property rights involve a 'bundle of rights' rights'[156] including occupancy, use and enjoyment, and the right to sell, devise, give, or lease all or part of these rights . obligations as well as rights. rights .

[157][158][159][160] ][159][160] [157][158

Custodians of property have

[161][162]

 Michelman writes, "A property regime thus depends on a great deal of [163][164]

cooperation, trustworthiness, and self-restraint among the people who enjoy it." it. "[163][164]  Menon claims that the autonomous individual, responsible for his/her own existence is a cultural construct [165]

moulded by  by Western culture  culture rather than the truth about the  the human condition. condition. "illusion"— "illusion" —a "normative phantasm" without substance. substance .

Penner views property as an

[166][167]

 

In the neoliberal literature, property is part of the private side of a public/private dichotomy and acts a counterweight to state power. Davies counters that "any space may be subject to plural meanings or appropriations which do not necessarily come into conflict" conflict"..[168]  Private property has never been a universal doctrine, although since the end of the Cold War is it has become nearly so. Some societies, e.g., Native American bands, held land, if not all property, in common. When groups appropriated  the loser's property. property. came into conflict, the victor often  often  appropriated

[169][170]

 The rights paradigm tended to

stabilize the distribution of property holdings on the presumption that title had been lawfully acquired acquired.. [171]  [172]

Property does not exist in isolation, and so property rights too. too . [172] Bryan claimed that property rights describe [173][174][175][176 ][175][176][177][178] ][177][178]  Singer holds that relations among people and not just relations between people and things[173][174

the idea that owners have no legal obligations to others wrongly supposes that property rights hardly ever conflict with other legally protected interests. interests .[179] Singer continues implying that  that legal realists  realists "did not take the

 

character and structure of social relations as an important independent factor in choosing the rules that govern [180]

market life". Ethics of property rights begins with recognizing the vacuous nature of the notion of property . [180] 

Intellectual property[edit] edit]  rights  Main articles:  articles: Intellectual property  and  Intellectual property rights  Intellectual property  property (IP) encompasses expressions of ideas, thoughts, codes and information. " Intellectual property rights" rights" (IPR) treat IP as a kind of  real property, property, subject to analogous protections, rather than as a reproducible good or service. Boldrin and Levine argue that "government does not ordinarily enforce monopolies for producers of other goods. This is because it is widely recognized that monopoly creates many social costs. Intellectual monopoly is no different in this respect. The question we address is whether it also creates social benefits commensurate with these social costs." costs."

[181]

 

International standards relating to Intellectual Property Rights are enforced through  Agreement  Agreement on Trade Related Aspects of Intellectual Property Rights  Rights (TRIPS). (TRIPS).[182] In the US, IP other than tha ncopyrights  copyrights is regulated by Office..  the  the United States Patent and Trademark Office The  US Constitution The Constitution  included the power to protect intellectual property, empowering the Federal government "to promote the progress of science and useful arts, by securing for limited times to authors and inventors the exclusive right to their respective writings and discoveries" discoveries ".

[183]

 Boldrin and Levine see no value in such state[184][185]

enforced monopolies stating, "we ordinarily think of innovative monopoly as an  an  oxymoron. oxymoron.[184][185] Further they comment, 'intellectual property' "is not like ordinary property at all, but constitutes a government grant of a costly and dangerous private monopoly over ideas. We show through theory and example that intellectual monopoly is not necessary for innovation and as a practical matter is damaging to growth, prosperity, and [183]

liberty" .

 Steelman defends patent monopolies, writing, "Consider prescription drugs, for instance. Such

drugs have benefited millions of people, improving or extending their lives. Patent protection enables drug companies to recoup their development costs because for a specific period of time they have the sole right to manufacture and distribute the products they have invented." invented. "[186] The court cases by 39 pharmaceutical companies against  against South Africa' Africa's 1997 Medicines and Related Substances Control Amendment Act, which [187][188

][189] intended to provide affordable HIV medicines has been cited as a harmful effect of patents. patents . [187][188][189]  

One attack on IPR is moral rather than utilitarian, claiming that inventions are mostly a collective, cumulative, path dependent, social creation and therefore, no one person or firm should be able to monopolize them even [190]

for a limited period. period.[190] The opposing argument is that the benefits of innovation arrive sooner when patents encourage innovators and their investors to increase their commitments. Roderick Long, a libertarian  libertarian philosopher, observes, "Ethically, property rights of any kind have to be justified as extensions of the right of individuals to control their own lives. Thus any alleged property rights that conflict with this moral basis—like the "right" to own slaves— basis— slaves —are invalidated. In my judgment, intellectual property rights also fail to pass this test. To enforce copyright laws and the like is to prevent people from making peaceful use of the

 

information they possess. If you have acquired the information legitimately (say, by buying a book), then on what grounds can you be prevented from using it, reproducing it, trading it? Is this not a violation of the freedom of speech and press? It may be objected that the person who originated the information deserves ownership rights over it. But information is not a concrete thing an individual can control; it is a universal, existing in other people's minds and other people's property, and over these the originator has no legitimate sovereignty. You cannot own information without owning other people". people".[191] Machlup concluded that patents do not have the intended effect of enhancing innovation. innovation.

[192]

 Self-declared  Self-declared anarchist  anarchist Proudhon Proudhon,, in his 1847 seminal work noted,

"Monopoly is the natural opposite of competition," and continued, "Competition is the vital force which animates [193][194]

the collective being: to destroy it, if such a supposition were possible, would be to kill society" society" [193][194]  economy  is an economy of abundance Mindeli and Pipiya hold that the  the  knowledge economy

[195]

 because it relies on the

"infinite potential" of knowledge and ideas rather than on the limited resources of natural resources, labor and [196]

capital. Allison envisioned an egalitarian distribution of knowledge. knowledge.[196] Kinsella claims that IPR create artificial [197][198

][199] scarcity and reduce equality. equality.[197][198][199]  Bouckaert wrote, "Natural scarcity is that which follows from the

relationship between man and nature. Scarcity is natural when it is possible to conceive of it before any human, institutional, contractual arrangement. Artificial scarcity, on the other hand, is the outcome of such arrangements. Artificial scarcity can hardly serve as a justification for the legal framework that causes that scarcity. Such an argument would be completely circular. On the contrary, artificial scarcity itself needs a [200][201]

 justification"    justification"

 Corporations fund much IP creation and can acquire IP they do not create, create ,

Menon and others object. object.

[202]

 to which

[203][204]

  Andersen Andersen claims that IPR has increasingly become an instrument in eroding

public domain. domain.[205]  Ethical and legal issues include:  include:  Patent infringement, infringement, copyright infringement, infringement, trademark infringement,, patent infringement patent  and and  copyright misuse misuse,, submarine patents patents,, biological patents,, patent, patents patent, copyright copyright  and andtrademark trolling trolling,, Employee raiding raiding  and monopolizing talent,  Bioprospecting, talent, Bioprospecting, biopiracy  biopiracy and  and industrial espionage, espionage, digital rights management management..  Ashcroft  and  and  Air Air Pirates Pirates..  Notable IP copyright cases include  include Napster , Eldred v. Ashcroft

Internationall issues[edit Internationa edit]]  While business ethics emerged as a field in the 1970s, international business ethics did not emerge until the [206]

late 1990s, looking back on the international developments of that decade. decade .[206]Many new practical issues arose out of the international context of business. Theoretical issues such as cultural relativity of ethical values receive more emphasis in this field. Other, older issues can be grouped here as well. Issues and subfields include:

 

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The search for universal values as a basis for international commercial behaviour.

 

 

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Comparison of business ethical traditions in different countries. Also on the basis of their respective GDP and [Corruption rankings].

 

Comparison of business ethical traditions from various religious perspectives.

 

and biopiracy biopiracy  in the Ethical issues arising out of international business transactions; e.g.,  e.g.,  bioprospecting  bioprospecting and 

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pharmaceutical industry; the  the fair trade trade  movement;  movement; transfer pricing pricing.. 

 

and cultural imperialism. imperialism.  Issues such as  as globalization  globalization and 

 

Varying global standards— standards—e.g., the use of  child labor . 

 

The way in which multinationals take advantage of international differences, such as outsourcing

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production (e.g. clothes) and services (e.g. call centres) to low-wage countries.

 

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The permissibility of international commerce with pariah states.

The success of any business depends on its financial performance. Financial accounting helps the management to report and also control the business performance. The information regarding the financial performance of the company plays an important role in enabling people to take right decision about the company. Therefore, it becomes necessary to understand how to record based on accounting conventions and concepts ensure unambling and accurate records. Foreign countries often use dumping as a competitive threat, selling products at prices lower than their normal value. This can lead to problems in domestic markets. It becomes difficult for these markets to compete with the pricing set by foreign markets. In 2009, the International Trade Commission has been researching antidumping laws. Dumping is often seen as an ethical issue, as larger companies are taking advantage of other less economically advanced companies.

Economic systems[edit edit]]  Political economy economy  and and  political philosophy  philosophy have ethical implications, particularly regarding the distribution of [207]

economic benefits. benefits.  John Rawls Rawls  and  and Robert Nozick  Nozick are both notable contributors. For example, Rawls has been interpreted as  as offering a critique of offshore outsourcing outsourcing  on social contract grounds, whereas Nozick's libertarian philosophy rejects the notion of any positive corporate social obligation.

Law and regulation[edit edit]]  Very often it is held that business is not bound by any ethics other than abiding by the law. Milton Friedman is the pioneer of the view. He held that corporations have the obligation to make a profit within the framework of [208]

the legal system, nothing more. more.[208] Friedman made it explicit that the duty of the business leaders is, "to make as much money as possible while conforming to the basic rules of the society, both those embodied in the law [209]

a biding by 'customs' and and those embodied in ethical custom" cust om"..[209] Ethics for Friedman is nothing more than abiding 'laws'. The reduction of ethics to abidance to laws and customs however have drawn serious criticisms.

 

[by whom?

Counter to Friedman's logic it is observed by whom?]] that legal procedures are technocratic, bureaucratic, rigid and obligatory where as ethical act is conscientious, voluntary choice beyond normativity normativity..

[210]

 Law is retroactive.

Crime precedes law. Law against a crime, to be passed, the crime must have happened. Laws are blind to the crimes undefined in it. it .

[211]

 Further, as per law, "conduct is not criminal unless fforbidden orbidden by law which gives [212]

advance warning that such conduct is criminal. criminal.

 Also, law presumes the accused is innocent until proven  Also,

guilty and that the state must establish the guilt of the accused beyond reasonable doubt. As per liberal laws followed in most of the democracies, until the government prosecutor proves the firm gui lty with the limited resources available to her, the accused is considered to be innocent. Though the liberal premises of law is necessary to protect individuals from being persecuted by Government, it is not a sufficient mechanism to [213][214][215][216] ][215][216] make firms morally accountable. accountable.[213][214  

edit]]  Implementation[edit

Corporate policies[edit edit]]  This section needs additional citations for verification . Please help improve this article  by by adding citations to reliable sources. sources . Unsourced material may removed. (March 2011)   be challenged and removed.  As part of more comprehensive  comprehensive compliance and ethics programs, programs, many companies have formulated internal policies pertaining to the ethical conduct of employees. These policies can be simple exhortations in broad, highly generalized language (typically called a corporate ethics statement), or they can be more detailed policies, containing specific behavioural requirements (typically called corporate ethics codes). They are generally meant to identify the company's expectations of workers and to offer guidance on handling some of the more common ethical problems that might arise in the course of doing business. It is hoped that having such a policy will lead to greater ethical awareness, consistency in application, and the avoidance of ethical disasters.  An increasing number of companies also require employees to attend seminars regarding business conduct, which often include discussion of the t he company's policies, specific case studies, and legal requirements. Some companies even require their employees to sign agreements stating that they will abide by the company's rules of conduct. Many companies are assessing the environmental factors that can lead employees to engage in unethical conduct. A competitive business environment may call for unethical behaviour. Lying has become expected in fields such as trading. An example of this are the issues surrounding the unethical actions of the Saloman Brothers. Not everyone supports corporate policies that govern ethical conduct. Some claim that ethical problems are better dealt with by depending upon employees to use their own judgment.

 

Others believe that corporate ethics policies are primarily rooted in utilitarian concerns, and that they are mainly to limit the company's legal liability, or to curry public favour by giving the appearance of being a good corporate citizen. Ideally, the t he company will avoid a lawsuit because its employees will follow the rules. Should a lawsuit occur, the company can claim that the problem would not have arisen if the employee had only followed the code properly. Sometimes there is disconnection between the company's code of ethics and the company's actual practices. Thus, whether or not such conduct is explicitly sanctioned by management, at worst, this makes the policy duplicitous, and, at best, it is merely a marketing tool. Jones and Parker write, "Most of what we read under the name business ethics is either sentimental common ex ercises sense, or a set of excuses for being unpleasant." unpleasant. " [217] Many manuals are procedural form filling exercises unconcerned about the real ethical dilemmas. For instance, US Department of Commerce ethics program [32]

treats business ethics as a set of instructions and procedures to be followed by 'ethics officers'. ,[32] some others claim being ethical is just for the sake of being ethical. ethical.

[218]

 Business ethicists may trivialize the subject, offering

standard answers that do not reflect the situation's complexity. complexity .

[210]

 

edit]  Ethics officers[edit] This section needs additional citations for verification . Please help improve this article  by by adding citations to reliable sources. sources . Unsourced material may removed. (March 2011)   be challenged and removed. Ethics officers (sometimes called "compliance" or "business conduct officers") have been appointed formally by organizations since the mid-1980s. One of the catalysts for the creation of this new role was a series of fraud, corruption, and abuse scandals that afflicted the U.S. defense industry at that time. This led to the creation of the Defense Industry Initiative (DII), a pan-industry initiative to promote and ensure ethical business practices. The DII set an early benchmark for ethics management in corporations. In 1991, the  Ethics & Compliance Officer Association( Association(ECOA) ECOA)— —originally the Ethics Officer Association (EOA)— (EOA) —was founded at the  the Center for Business Ethics  Ethics (at Bentley College, Waltham, MA) as a professional association for those responsible for managing organizations' efforts to achieve ethical best practices. The membership grew rapidly (the ECOA now has over 1,200 members) and was soon established as an independent organization.  Another critical factor in the decisions of companies to appoint ethics/compliance officers was the passing of the Federal Sentencing Guidelines for Organizations in 1991, which set standards that organizations (large or small, commercial and non-commercial) had to follow to obtain a reduction in sentence if they should be convicted of a federal offense. Although intended to assist judges with sentencing, the influence in helping to establish best practices has been far-reaching.

 

In the wake of numerous corporate scandals between 2001 and 2004 (affecting large corporations like  Enron like Enron,, WorldCom  WorldCom and  and Tyco) Tyco), even small and medium-sized companies have begun to appoint ethics officers. They often report to the Chief Executive Officer and are responsible for assessing the ethical implications of the company's activities, making recommendations regarding reg arding the company's ethical policies, and disseminating information to employees. They are particularly pa rticularly interested in uncovering or preventing unethical and illegal actions. This trend is partly due to the  the Sarbanes –  –Oxley Oxley Act  Act in the United States, which was enacted in reaction to the above scandals. A related trend is the introduction of risk assessment officers that monitor how shareholders' investments might be affected by the company's decisions. The effectiveness of ethics officers is not clear. If the appointment is made primarily as a reaction to legislative requirements, one might expect little impact, at least over the short term. In part, this is because ethical business practices result from a corporate culture that consistently places value on ethical behaviour, a culture and climate that usually emanates from the top of the organization. The mere establishment of a position to oversee ethics will most likely be insufficient to inculcate ethical behaviour: a more systemic programme pr ogramme with consistent support from general management will be necessary. The foundation for ethical behaviour goes well beyond corporate culture and the policies of any given company, for it also depends greatly upon an individual's early moral training, the other institutions that affect an individual, the competitive business environment the company is in and, indeed, society as a whole.

edit]]   Academic discipline discipline[edit  As an academic discipline, business ethics emerged in the 1970s. Since no academic business ethics journals or conferences existed, researchers published in general management journals, and attended general conferences. Over time, specialized peer-reviewed journals appeared, and more researchers entered the field. Corporate scandals in the earlier 2000s increased the field's popularity. As of 2009, sixteen academic journals devoted to various business ethics issues existed, with  with  Journal of Business Ethics Ethics  and  and Business Ethics Quarterly  considered the leaders Quarterly leaders..[219]  The International Business Development Institute

[220]

 is a global non-profit organization that represents 217

nations and all 50 United States. It offers a Charter in Business Development (CBD) that focuses on ethical Harvard,, MIT MIT,, and   and Fulbright Fulbright  Scholars, and it business practices and standards. The Charter is directed by  by  Harvard includes graduate-level coursework in economics, politics, marketing, management, technology, and legal aspects of business development as it pertains to business ethics. IBDI also oversees the International Business Development Institute of Asia Asia to earn the Charter.

Religious views[edit] edit] 

[221]

 which provides individuals living in 20 Asian nations the opportunity

 

[citation In  In Sharia Sharia  law, followed by many many  Muslims, Muslims, banking banking  specifically prohibits charging interest on loans. needed ]

[222]  Traditional  Confucian   Traditional Confucian thought discourages profit-seeking. profit-seeking.  Christianity Christianity  offers the  the Golden

Rule  command, "Therefore all things whatsoever ye would that men should do to you, do ye even so to them: Rule for this is the law and the prophets." prophets. "[223] according to the article "Theory of the real economy", there is a more narrow point of view from the Christianity faith towards the relationship between ethics and religious traditions. This article stresses about how capable is Christianity of establishing reliable boundaries for financial institutions. one criticism comes from Pope Benedict by describing the "damaging effects of the real economy of badly managed and largely speculative financial f inancial dealing." dealing."  [224] 

Related disciplines[edit edit]]  Business ethics is part of the Business  the  philosophy of business business,, the branch of  philosophy philosophy  that deals with the philosophical, [225]

and  economics economics..[225] Business ethics operates on the premise, political, and  and ethical  ethical underpinnings of business and for example, that the ethical operation of a private business is possible— possible —those who dispute that premise, such as  as libertarian socialists socialists,, (who contend that "business ethics" is an  an  oxymoron) oxymoron) do so by definition outside of the domain of business ethics proper.

[citation needed ]

 

The philosophy of business also deals with questions such as what, if any, are the  the  social responsibilities  responsibilities of a business;  business management business; management  theory; theory; theories of  individualism  individualism vs. vs.  collectivism; collectivism;free will will  among participants in interest; invisible hand hand  theories; the requirements of  social justice; justice; and   and natural the  the marketplace; marketplace; the role of  self interest; [citation needed 

rights,, especially rights  especially  property rights, rights, in relation to the business enterprise. citation needed ]  economy,, which is  is economic analysis  analysis from political Business ethics is also related to  to political economy and  historical and historical  perspectives. Political economy deals with the distributive consequences cons equences of economic actions. It activity,, and is the resultant  resultant  distribution distribution  fair or just, which are asks who gains and who loses from  from economic activity [citation needed 

central ethical issues. citation needed ] 

edit]]  See also[edit  

Bribery Bribery  

 

Business culture  culture 

 

Business Ethics Quarterly  

 

Business and Professional Ethics Journal  

 

law   Business law

 

Corporate behaviour  

 

crime   Corporate crime

 

Corporate social entrepreneurship entrepreneurship  

 

responsibility   Corporate social responsibility

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Corruption Corruption  

 

Ethicism   Ethicism

 

Ethics   Ethics

 

contracts   Ethical implications in contracts

 

consumerism   Ethical consumerism

 

Ethical code code  

 

job   Ethical job

 

Fiduciary   Fiduciary

 

Ethics   Journal of Business Ethics

 

Education   Journal of Business Ethics Education

 

Management   Management

 

ethics   Organizational ethics

 

bias   Optimism bias

 

scam  Penny stock scam 

 

Strategic misrepresentation misrepresentation  

 

planning   Strategic planning

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References [edit edit]]  1.

Philosophy)".. Plato.stanford.edu. 2008-04-16. Retrieved ^ "Business Ethics (Stanford Encyclopedia of Philosophy)" 2013-06-04.

2.

^ Smith, A (1776/ 1952) An Inquiry Into the Nature and Causes of the Wealth of Nations. Chicago, IL: University of Chicago Press, p. 55

3.

^ Berle, A. A., & Means, G. C. (1932). The Modern Corporation and Private Property. New Jersey: Transaction Publishers. In this book, Berle and Means observe, "Corporations have ceased ce ased to be merely legal devices through which the private business transactions of individuals may be carried on. Though still much used for this purpose, the corporate form has acquired a much larger significance. The corporation has, in fact, become both a method of property tenure and a means of organizing economic life. Grown to tremendous proportions, there may be said to have evolved a 'corporate system'— system'—as there once was a feudal system— system—which has attracted to itself a combination of attributes and po wers, and has attained a degree of prominence entitling it to be dealt with as a major social institution. […] We are examining this institution probably before it has attained its zenith. Spectacular as its rise has been, every indication seems to be that the system will move forward to proportions which stagger imagination today […] They [management] have placed the community in a position to demand that the modern corporation serve not only the owners […] but all society." p. 1. 1.  

 

4.

^ Jones, Parker & et al. 2005 2005,, p. 17

5.

^ Slavery and the Making of America America— —Episode 1. 1. Video.google.com. Retrieved on 2010-09-02.

6.

^ Kingsolver, A. (2008). Capitalism. Encyclope Encyclopedia dia of Race and Racism. J. H. Moore. Detroit, Macmillan 0-02-866021-8  pp. 268 –  –271. 271. reference  ISBN 0-02-866021-8 reference

7.

^ Williams, E. (1994 [1944]). [1944]).  Capitalism and Slavery Slavery.. Chapel Hill, The University of North Carolina Press. "Slavery was not born of racism: rather, racism was the consequence of slavery. Unfree labor in the New World was brown, white, black, and yellow; Catholic, Protestant and pagan"

8.

^ King Leopold II King of Belgium Belgium— —King of the Congo. Congo. Video.google.com. Retrieved on 2010-09-02.

9.

^ Robotham, D. A. Warehouses and Docks 1.―No Smoking‖ signs must be conspicuously post posted ed in areas where smoking is prohibited. 2.When smoking is permitted, as in offices in connection with warehouses, ―NO Smoking‖ signs and safe means for disposing of lighted lighted smoking materials shall be provided at each point of access to the ―NO Smoking‖ areas. 3.Fire protection should be installed or pro provided vided in accordance with codes and regulation of the authority having jurisdiction over the premises. (See Section 8, Fire Protection and Control.) 4.Water hoses and / or portable fire extinguishers, of the proper type to protect both building and contents must be provided convenient, conspicuous conspicuously ly accessible location (See Section 8, Fire Protection and Control.) 5.Fire extinguishers must not be blocked from view. Where material could block the view of a fire extinguisher, some means of identifying its location must be provided. 6.Storage buildings should be kept clean and orderly, as well as free from insects, rodents and other pests. 7.Throughout any storage area, warehouse, etc. metal containers with lids are to be available for waste disposal. Oily rags must always be stored in metal containers with lids in place. Lids should be equipped with fusible plugs in case of fire. 8.In any storage area, aisleways and passageways must be well marked and free from obstruction. 9.Where mechanical equipment is used to move material within a storage area, aisleways and passageways must be wide enough to prevent congestion. 10.Floors in storage areas must be kept clean and dry as well as free from tripping hazards such as loose boards, protruding nails and other material. 11.All floor holes through which materials might fall and create a hazard, must be properly p roperly guarded by a cover that leaves leav es no openings more than 1‖ wide, or if necessary, by a standard railing and toe board. 12.Docks, floors and platforms need to be constructed of heavy material and should be checked frequently for broken boards and dry rot. 13.Floors, docks and other surfaces surfa ces should be inspected periodically to ensure they are safe for employees. Any condition which could cause an accident must be repaired as soon as possible. 14.All wall opening, more than 1‖ but less than 30‖ wide through which materials might fall and create a hazard are to be guarded. 15.All platforms, open sided floors, walkways, decks, etc. which are more than four feet above the ground or floor level must be equipped with guard rails, midrails and toe board. 16.Floor load limit plates should be posted in a conspicuous place and those load limits must be adhered to. 17.When material is stored in bins, the heavier h eavier objects should be placed in the lower bins with the lighter material stored in upper bins. 18.Storage bins are a re to be constructed of material

 

strong enough to support the weight. Tall bins need to be secured so that they cannot be easily upset. 19.Storage bins should be so designed that material cannot easily fall out of them. Adequate stripping material should be used along the leading edge to minimize this problem. 20.Benches, boxes, bins, etc. must not be used to climb on. Only approved ladders or step stools are to be used for that purpose. 21.Ladders and other climbing equipment be kept in good condition and replaced or repaired when needed. When finished using the item it must be adequately stored. 22.Stepladders are to be of commercial grade or, as minimum meet or exceed class ll requirements. 23.Commodities which are incompatible with on another must not be stored together. If they must be stored in the same area they shall be separated by distance or partition which is adequate to eliminate the danger. 24.Commodities which qualify as ordinary combustibles are not to be stored in piles exceeding 21’ in height and no material be stored within 18 within  18 inches of the ceiling or sprinkle heads. 25.Commodities which may be hazardous in combination should not be stored where they can come in contact with each other. 26.Materials such as PUP joints, tall valves, short steel bar stock, small diameter cylinders, etc., should be placed suitable racks or securely tied so they cannot fall over. 27.Nails should not be used for hooks or to support heavy objects. 28.When uncrating material and opening barrels, kegs, boxes, crates, etc., all projecting nails, wires, straps, etc., should be removed before the job of unpacking is started . 29.When cutting or removing metal straps from bales, crates or other packages, the workmen should stand clear where flying ends cannot strike them. 30.In preparing material for shipment, employees should : 1.Use the proper type of container or package for the material to be shipped. 2.Properly label the container or package. 3.Be sure the container is built to meet requirements for strength. 4.Do not leave protruding nails or splinters. 5.Be sure that wire and metal band and straps are pulled tight and that no sharp ends are left exposed. 31.Hand trucks or carts must not be overloaded. 32.All skids and runways should be securely fastened as soon as they are put in position. B. Storage Yards 1.All yard storage material should be neatly stored in designated areas, convenient for truck unloading and loading. 2.Sufficient safe clearance for movement of all necessary vehicles must be provided in warehouse yards. 3.Clearance limits signs should be posted wherever necessary. 4.Permanent aisles, roadways and passageways must be kept clear of obstructions. 5.Except 5.Except for large tanks, material should not be stored on the bare ground. Racks, sacks, shoring, planks or other material should be under all stored items. 6.Storage areas should be kept as free of vegetation and as possible. 7.Trash, junk and rubbish is to be cleaned up and placed in proper receptacles. 8.Open pits, ditches, etc., must be guarded to protect personnel. 9.Stored material should be stacked in a manner that makes it secure against sliding or collapse. 10.Material should not be left, piled or stacked within 8’8’ -6‖ of the center of a railroad track. 11.Derail and / or bumper blocks are to be provided where a rolling freight car could contact other cars enter a building, work or traffic area. 12.Skids used for moving pipe and other materials must be substantially built and should be designed for their particular use. 13.All skids are to be securely fastened at one end at leas, and at both ends if possible. 14. Pipe racks should be built substantially enough to carry the load for which they are intended and must be kept in good repair. 15.Pipe should not be racked in tiers higher than five feet. Tiers

 

should be separated with stripping and should be securely blocked at the outside joints of pipe on each tier. 16.Pipe should in a yard can create hazards if precautions are not taken. Appropriate racks should be provided, spacing between racks is necessary and choking of prevent it from rolling off a stack is required. Other material to stored in a yard shall not be placed on top pipe. 17.Stripping for 4 -inch pipe and smaller should be 1-inch material. for pipe larger than 4-inch, 2-inch material shall be used. 18.All pipe under 6-inch should be blocked with 1-inch material nailed to the stripping, 6-inch and larger pipe shall blocked with 2inch material, nailed to the stripping. 19.Where old or bent material is stored on pipe racks, particular care should be taken in stacking and handling it to and from the rack. 20.Bins for heavy junk must be substantially built and must be kept in good repair . 21.Heavy gloves and shoes should be worn, and extreme care must be taken whenever it is necessary to get into a junk bin to load or unload the material mate rial Rabigh Modern Company Limited. © 2012(2005). Political Economy. A Handbook of Economic 1-84376-175-0  pp. 41 –  –58 58  Anthropology. J. G. Carrier. Northampt Northampton, on, MA, Edward Edward Elgar  ISBN 1-84376-175-0 10. ^ Berger D., Easterly W, et al. (2010) al. (2010)  Commercial Imperialism? Political Influence and Trade During the Cold War . NBER Working Paper No. 15981. article   A A History of Business Ethics Ethics  by Richard T. De George of Santa Clara University (web page 11. ^ The article version of DeGeorge, Richard. 2005, "History of Business Ethics", Ethics", paper delivered at "The Accountable Corporation", the third biennial global business conference sponsored by the Markkula Center for Applied Ethics at Santa Clara University) as availed on March 30, 2010 –  – observes,  observes, on the origin of business ethics discourse, " The Second World War was over, the Cold War was ever present, and the War in Viet Nam fostered a good deal of opposition to official public policy and to the so-called military-industrial complex, which came in for increasing scrutiny and criticism. The Civil Rights movement had caught the public imagination. The United States was becoming more and more of a dominant economic force. Americanbased multinational corporations were growing in size and importance. Big business was coming into its own, replacing small and medium-sized businesses in the societal image of business. The chemical industry was booming with innovation, and in its wake came environmental damage on a scale that had not previously been possible. The spirit of protest led to the environmental movement, to the rise of consumerism, and to criticism of multinational corporations... corporations....Corporations, .Corporations, finding themselves under public attack and criticism, responded by developing d eveloping the notion of social responsibility. They started social responsibility programs and spent a good deal of money advertising their programs and how they were promoting the social good. Exactly what "social responsibility" meant varied according to the industry and company 12. ^ Richard T. De George a  b 

Ethics. Scu.edu (2005-02-19). Retrieved on 2010-09-02. 13. ^  ^     History of Business Ethics. 14. ^ Madsen, Essentials of Business Ethics

 

in  Cory 2005 2005  Activist  Activist 15. ^ Velasquez, Corporate Ethics: Losing it, Having it, Getting it, p. 229 as quoted in Business EthicsT EthicsThe passage quoted is: "Between 1970 and 1980, 11 percent of the largest American firms were convicted of lawlessness, including bribery, criminal fraud, illegal campaign contributions, tax evasion, or price-fixing. Well-known companies with four or more convictions included Braniff International, Gulf Oil, and Ashland Oil. Firms with at least two convictions included Allied, American Airlines, Bethlehem Steel, Diamond International, Firestone, Goodyear, International Paper, National Distillers, Northrop, Occidental Petroleum, Pepsico, Phillips Petroleum, R.J. Reynolds, Schlitz, Seagram, Tenneco, and United Brands. The recent Union Carbide disaster in Bhopal is well-known, as is the E.F. Hutton fiasco, the General Dynamics fraud, and of course, the Wall Street scandals involving Ivan Boesky, David Levine, and Michael Milken... Unethical behaviour in business more often than not no t is a systematic matter. To a large degree it is the behaviour of generally decent people who normally would not think of doing anything illegal or immoral. But they get backed into doing something unethical by the systems and practices of their own firms and industries. Unethical behaviour in business generally arises when business firms fail to pay explicitly attention to the ethical risks that are created by their own systems and practices." 16. ^ Richard De George, Business Ethics 17. ^ Manuel G. Velasquez, Business Ethics: Concepts and Cases. al.(2001) l.(2001) Business Ethics. London: The Economist:119 –  –132 132 18. ^ Moon, Chris Et a 19. ^ MBA Institutes & Business school networks: IIMA, IIMB, IIMC, IIML, IIMK, IIMI, ISB, Great lakes, XLRI, JBIMS, FMS. FMS. Coolavenues.com. Retrieved on 2010-09-02. Gleijeses,, pp. 16 –  –37 37 The entire book discusses unethical business practic practices es and CIA 20. ^ Cullather Gleijeses collaborating with each other with appropriate documentary evidence. 21. ^ Confessions of An Economic Hit Man Man— —What Really Goes on Behind Global Affairs. Affairs. Video.google.com. Retrieved on 2010-09-02. (1989).  Necessary Illusions: Thought Control in Democratic Societies London London,, Pluto 22. ^ Chomsky, N. (1989). Press Pres sISBN 0-89608-366-7. 0-89608-366-7.  a  b 

23. ^  ^     Friedman, Milton (1970-09-13). (1970-09-13).  "The Social Responsibility of Business is to Increase Its Profits". Profits" . The New York Times Magazine. Magazine. Retrieved March 11, 2011. 24. ^ Friedman, M. (1984). "Milton Friedman responds responds— —an interview with Friedman." Business and Society 84(5) 25. ^ Bevan, D. (2008) (2008)..Philosophy: A Grounded Theory Approach and the Emergence of Convenient and Inconvenient Ethics. Cutting Edge Issues in Business Ethics  Ethics M. Painter-Morland and P. Werhane. Boston, Springer. 24: 131 –  –152. 152. tour".. The Economist . Jan 27, 2011. Retrieved March 12, 2011. 26. ^ "Milton Friedman goes on tour" a  b 

27. ^^      Duska 2007, 2007, p. 11  11 Contemporary Reflections on Business Ethics. Ethics.  28. ^ Cory 2005 2005,, pp. 7 –  –34 34  Activist  Activist Business Ethics Ethics  

 

29. ^ Drucker, P. (1981). " What is business ethics?" The Public Interest Spring(63): 18 –  –36. 36. 30. ^ Cory 2005 2005,, p. 9 9  Activist  Activist Business Business Ethics  Ethics  31. ^ Pinnington, A. H. and Lafferty, G. (2002). Human Resource Management in Australia. Melbourne: Oxford 0-19-551477-7   University Press  Press ISBN 0-19-551477-7 a  b 

32. ^  ^     Good Governance Program. (2004). Business Ethics: A manual for managing a responsible business enterprise in emerging market economies. (pp.93 –  –128) 128) Washington DC: Good Governance Program, US Department of Commerce 33. ^ Hansmann, H., & Kraakman, R.(2000). R.(2000).  The End of History for Corporate Law. Law. Georgetown Law Journal(89), 439 –  –468. 468. The article says, "All thoughtful people believe that corporate enterprise should be organized and operated to serve the interests of society as a whole, and that the interests of shareholders deserve no greater weight in this social calculus than do the interests of any other members of society." 34. ^ Greenfield, K. (2006). (2006).  The Failure of Corporate Law fundamental flaws & progressive possibilities. possibilities.  Chicago: The University of Chicago Press  Press  ISBN 0-226-30693-3 0-226-30693-3.. Greenfield observes, "what is good for shareholders is good for corporations, and what is good for corporations is good for society.. society....If ..If this connection existed, the shareholder bandwagon would be attractive indeed. The problem is that advocates for shareholder primacy do not purport pu rport to say how the connection occurs or test whether the connection is true. p. 22 2005,, p. 5 observe, "when a company with shareholders gives some of the profits it 35. ^ Jones, Parker & et al. 2005 has made to investors who have not been involved in producing the value, this is seen as a reward for risk. But why should the surplus generated by workers be given to someone else who almost certainly already has a lot of money in the first place?" 36. ^ For a summary of the study se see ehttp://www.ibe.org.uk/userfiles http://www.ibe.org.uk/userfiles/attitudes_to_be2012.pdf  /attitudes_to_be2012.pdf   a  b 

1997, p. xvii 37. ^  ^     Dobson 1997, 38. ^ Cetina, K. K., & Preda, A. (Eds.). (2005). The sociology of financial markets. Oxford University 0-19-929692-8   Press  ISBN 0-19-929692-8 Press 39. ^ Huevel, K. et al., (2009). Meltdown: how gree greed d and corruption shattered our financial system and how we can recover. New York: Nation Books  Books  ISBN 1-56858-433-4. 1-56858-433-4.  a  b 

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41. ^ Aristotle  Aristotle 1948 Politics Politics E. Barker, trans. Oxford: Clarendon, p. 38. 1759,, p. VI.i.15 42. ^ Smith 1759

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1759,, p. III.iv.448 43. ^ Smith 1759 44. ^ Jevons, W.S. 1970 The Theory of Political Economy. Harmondsworth: Penguin. Jevons observes, "The theory…is entirely based on a calculus of pleasure and pain: the object of economics is to maximize happiness by purchasing pleasure, as it were, at the lowest cost of pain" (Jevons, 1970:91). Jevons also noted, "The strength of preferences for a good, measured by individuals' willingness to pay for their

 

satisfaction at the margin, is an indirect measure of subjective states: it is from the quantitative effects of the feelings that we must estimate their comparative amounts" (Jevons, 1970:83). O'Neil on the other hand points out that the ideologists of neoliberalism "do not claim to prove that markets maximize well-being. Rather they claim to show that in certain 'ideal' conditions the market will issue in a state sta te of equilibrium, defined as a state in which, so long as individuals' preferences and productive resources remain the same, any departure from that state will involve a welfare change for the worse for some party, in the sense that a previously satisfied preference will no longer be satisfied. satisfied.  O'Neill 1998, 1998, p. 54 45. ^ Montiel, P. J. (2003). (2003).  Macroeconomics in Emerging Markets. Markets . Cambridge: Cambridge University Press (pp. 214 –238)  –238)  ISBN 0-521-78551-0 0-521-78551-0.. By the phrase 'financial repression', Montiel refers to the monitoring and regulations on capital inflows and outflows, regulations on free entry and exit of national and international financial institutions, the presence of state run financial insti institutions, tutions, stipulations on cash reserve ratio or liquidity ratio, interest rate ceilings, guidelines regarding priority sector financing, and other measures of monitory regulations. 2007).  "Wolf: In Defense of Neoliberalism" Neoliberalism".. The Financial Times Times..  46. ^ Wolf, Martin (Tuesday, July 24, 2007). Retrieved March 11, 2011. satisfaction  O'Neill 1998, 1998, p. 56 47. ^ welfare in terms of preference satisfaction  –30. 30. 48. ^ Hayek F.A. 1976 Law, Legislation and Liberty: Volume 2 London: Routledge and Kegan Paul, pp. 15 – 49. ^ O'Neill challenges the welfare claim based on the 'preference satisfaction' in the following words: The empirical problem is this— this—that with all the increase in the variety of goods and a nd services that consumers are able to buy, there is no corresponding reported increase in perceived satisfact satisfaction. ion. The total amount of welfare understood as preference satisfaction over dissatisfaction appears to be remarkably static in modern market societies. There appears to be little evidence of any growth in the gap between preference satisfaction and dissatisfaction. dissatisfaction. Quoting from Lane, he points out, "The assumed positive relationship between markets and wellbeing understood as preference pre ference satisfaction satisfaction is not confirmed by empirical evidence… Indeed, the fact that there is no increase in preference satisfaction over dissatisfaction no longer entails immediately that there is no increase in welfare. Not all dis satisfaction satisfaction is a sign of a life that has taken a turn for the worse. Indeed, it can indicate the opposite, that a person is exercising capacities that are part of what it is for a life to be improving. Consider a pianist, who starts being greatly satisfied satisfied with her initial developments, but who, as she continues to develop technically and artistically, becomes ever more critical of her performance. Her increasing dissatisfact dissatisfaction ion is a symptom of increasing accomplishment. Or again consider the contented slave, wage earner or housewife who become discontented with their lot: it is better for them that this is so and not just in virtue of other possible improvements this might bring. This is  –60 60 an old point."  point." O'Neill 1998, 1998, pp. 56 – 50. ^ Schaler, J. A. Corruption Corruption..Hamowy, Kuznicki & Steelman 2008, 2008, pp. 105 –  –107 107 What the libertarians consider as corruption is interesting. The author concludes abruptly, "if we reduce what the government

 

does, we also will reduce corruption…. It also may offer a way to identify and understand the moral decline that follows (and fosters) the continual expansion of the welfare state.(p. 107). However, the author is reluctant to admit that private individual/ firm corruption. For instance, he writes, "Paying money for goods or services provided by a public official constitutes bribery and often involves punishment for the parties to the transaction. Why bribery is invariably equated with corruption and condemned? It is not obviously inefficient. Indeed, in highly collectivized nations, paying public officials to allow what would otherwise be normal market exchanges may contribute much to human welfare. (p. 105). He continues, "These standard accounts of corruption and bribery involve efficiency and democratic accountability, not liberty"... "In some cases, government actions that are particularly prone to bribery— bribery —like the licensing of economic activity— activity— inherently restrict individual liberty"… "It is possible that bribery might liberalize some parts of society"... However, he presents "in the financing of election campaigns" individuals and groups are simply "contributing to the campaigns of chosen candidates" and observes, "Campaign finance regulations, like the corruption they seek to prevent, actually serve the narrow interests of parties and incumbents instead of the interest voters have in open competition for legislative seats. Thus, campaign finance restrictions may be deemed a kind of corruption". He further points out, "However, as Nathaniel Persily discovered, campaign finance appears to have no real relationship one way or the other to trust in government. In any case, public trust in government tends to reduce, rather than protect, individual liberty (p. 106). In his statement on the primacy of liberty he argues, "But libertarians might recognize that corruption may be more than an excuse to limit liberty". 51. ^ The neoclassical economists of the first generation in the early 70s, while the impoverished world was still struggling to recover from the adverse effects of the second world war and the consequent cold wars, recommended deregulation of financial systems of the impoverished nations which they termed liberating financial systems from the 'financial repression'. Chili, Uruguay and Argentina were chosen to be b e the labs of financial experiments. Contrary to the claims the countries experienced severe economic and financial setbacks of soaring interest rates, waves of bank failures and other bankruptcies, extreme asset price volatility and extensive loan defaults, the real sector entered deep and prolonged recessions contrary to what had been projected by the ideologues (Grabel, I., 2008). Global finance and development: false starts, dead ends and social economic alternatives alternatives.. Davis, J. B.; Dolfsma, W. (eds.). The Elgar Companion to Social Economics ( . Cheltenham: Edward Elgar. pp. 498, 501. 52. ^ Lewis, P.; Stein, H. (1997). "Shifting fortunes: the political economy of financial liberalization in Nigeria". World Development  25 25 (1).  (1). pp. 5 –  –22. 22. 53. ^ Grabel, Ilene (2003), 'International private capital flows and developing countries', in Ha -Joon Chang (ed.), Rethinking Development Economics, London: Anthem Press, pp. 325 –  –45 45 54. ^ Eichengreen, B. (2001). "Capital Account Liberalization: What Do Cross-Country Studies Tell Us?". The 10.1093/wber/15.3.341.  World Bank Economic Review  15 15 (3):  (3): 341. 341.doi: doi:10.1093/wber/15.3.341.

 

(1995).  Pinochet's Economist Economists: s: The Chicago School in Chili  Chili  Cambridge University 55. ^ Valdez, J. G. (1995). Press  ISBN 0-521-45146-9 Press 0-521-45146-9   56. ^ Samuels, W., J (1977). Ideology in Economics In S. Weintraub (Ed.), Modern Economic Thought (pp. 467 –484).  –484). Oxford: Blackwell. 1993).  The Chicago School: Positivism or Ideal Type Type  In W. J. Samuels 57. ^ Charles, W., & Wisman, J. ([1976] 1993). (Ed.), The Chicago School of Political Economy New Brunswick Transaction Publishers  Publishers ISBN 1-56000-6331  58. ^ Duska 2007 2007,, pp. 51 –  –62 62 59. ^ O'Neill 1998 1998,, p. 55 60. ^ Salinger, L. M., Ed. (2005). Encyclopedia of White Collar Corporate Crime. California, Sage Reference  ISBN 0-7619-3004-3 Reference 0-7619-3004-3..  61. ^ Dembinski, P. H., Lager, C., Cornford, A., & Bonvin, J.-M. (Eds.). (2006). Enron and World Finance: A Case Study in Ethics. New York: Palgrave. (2006).   A A financial h history istory of Modern US Corporate Scandals Scandals.. New York: M.E. 62. ^ Markham, J. W. (2006). Sharpe  ISBN 0-7656-1583-5 Sharpe 0-7656-1583-5   63. ^ Escobar, A. (1995). (1995).  Encountering Development Development:: The Making and Unmaking of the Third World. World . Princeton, NJ: Princeton University Press  Press ISBN 0-691-00102-2. 0-691-00102-2.  64. ^ Ferguson, J. (1997). (1997).   Anthropology Anthropology and iits ts Evil Twin: Twin:Development  Development  in  in the Constitution of a Discipline. Discipline. In F. Cooper & R. Packard (Eds.), International Development and the Social Sciences: Essays on the History and Politics of Knowledge (pp. 150 –  –175). 175). Berkeley: University of California Press Press  ISBN 0-520-20957-5. 0-520-20957-5.  65. ^ Frank, A. G. (1991). (1991).  The Underdevelopment of Development Development.. Scandinavian Journal of Development  Alternatives(10), 5 –  –72. 72. 66. ^ Graeber, David (2002). "The Anthropology of Globalization (with Notes on Neomedievalism, and the End of the Chinese Model of the Nation-State): Millennial Capitalism and the Culture of Neoliberalism. Consumers and Citizens: Globalization and Multicultural Conflicts. The Anthropology of Globalization: A Reader". American Reader".  American Anthropologist  Anthropologist  104 104(4): (4): 1222.  1222. doi: doi:10.1525/aa.2002.104.4.1222. 10.1525/aa.2002.104.4.1222.  67. ^ Smith, D. A., Solinger, D. J., & Topik, S. C. (Eds.). (1999). (1999).States and Sovereignty in the Global Economy Economy..  0-415-20119-5..  London: Routledge  Routledge ISBN 0-415-20119-5 68. ^ Bribery committed by large companies and multinational corporations— corporations—social problems and systematic systematic,, pervasive government corruption— corruption—Peter Eigen— Eigen—government, corruption, bribery, social, problems, large, companies— companies —sciencestage sciencestage.com .com Political science. science. Sciencestage.com. Retrieved on 2010-09-02. 69. ^ Fisman, R., & Miguel, E. (2008). (2008).  Economic Gangsters: Corruption, Violence and the Poverty of Nations Nations..  Princeton: Princeton University Press  Press  ISBN 0-691-13454-5 0-691-13454-5..  and nd Private Sector. (A Report by Transparency International) 70. ^ Global Corruption Report 2009: Corruption a (2009). Cambridge: Cambridge University Press  Press  ISBN 0-521-13240-1. 0-521-13240-1. 

 

71. ^ Dobson 1997 1997,, p. ix "Experts of finance tend to view business firm as, 'an abstract engine that uses money today to make money tomorrow' 72. ^ Miller, M. H. (1986). "Behavioral Rationality in Finance: The Case of o f Dividends". Journal of Business (p. Business (p. doi::10.1086/296380. 10.1086/296380.  452) 59 59:: 451 –468.  –468.  doi 1997,, p. xvi In this regard Dobson points out, "An apologist for the finance paradigm might defend 73. ^ Dobson 1997 its conceptual rigidity as follows. Although there are undoubtedly motivations other than wealth maximization that influence, and should influence, behaviour, the assumptions of the finance paradigm provide a reasonable approximation of agents' behaviour over a broad spectrum of business environments. The firm is an economic mechanism and agents act within the firm for fundamentally economic reasons. reasons. In addition, the construction of mathematically robust models requires simplifying assumptions. assumptions. Like perfectand-frictionless capital markets, wealth maximization is one such simplifying assumption. All disciplines have their conceptual boundaries, and any value-based value -based normative consideration of human behaviour simply lies beyond finance's conceptual boundary. Indeed, if finance were to stretch this boundary in an attempt to encompass such questions, mathematical mathematical rigor would be b e lost. Finance would be set adrift in the scientifically unnavigable sea of moral philosophy. Wealth W ealth maximization provides a secure anchorage from which a rigorous theory of financial-market behaviour can be built. Says Norman Bowie, "Like perfect information and zero transaction costs, psychologica psychologicall egoism [i.e., wealth maximization] is one of the simplifying assumptions needed for the mathematics of equilibrium analysis" 1997,, pp. xvi, 142 74. ^ Dobson 1997 75. ^ Armstrong,  Armstrong, M. M. B. (2002). Ethical Issues in A Accounting. ccounting. In N N.. E. Bowie (E (Ed.), d.),  The Blackwell guide to business ethics( ethics(pp. 145 –  –157). 157). Oxford: Blackwell  Blackwell ISBN 0-631-22123-9  0-631-22123-9  economy.  Pinnington, Macklin & 76. ^ Walsh, A. J. HRM and the ethics of commodified work in a market economy. Campbell 2007, 2007, pp. 102 –  –118 118 77. ^ Kuchinke, K. P. (2005). (2005).  The self at work: theories of persons, meaning of work and their implications for HRDElliott HRD Elliott & Turnbull 2005, 2005, pp. 141 –  –154 154 (2005).  To develop a firm persuasion: Workplace learning and the problem of meaning. meaning .Elliott 78. ^ Dirkx, J. M. (2005). & Turnbull 2005, 2005, pp. 155 –  –174 174 79. ^ Terkel, S. (1974) Working: People Talk About What They Do All Day and How They Feel About What They Do, New York: Ballantine. Terkel introduces the work conditions in the following words: "This book, being about work, is, by its very nature, about violence violence— —to the spirit as well as to the body. It is about ulcers as well as accidents, about shouting matches as well as fistfights, about nervous breakdowns as well as kicking the dog around. To survive the day is triumph enough for the walking wounded among the great many of us", p. xii. a  b 

managementtPinnington, Macklin & Campbell 2007, 2007 , pp. 1 –  –22 22 80. ^  ^     Introduction: ethical human resource managemen 81. ^ Duska, R. R.  Employee Rights Rights..Frederic 2002 2002,, pp. 257 –  –268 268

 

(2002).  Ethical Issues in Human Resources Resources.. In N. E. Bowie (Ed.), The Blackwell guide to 82. ^ Koehn, D. (2002). business ethics (pp. 225 –  –243). 243). Oxford: Blackwell  Blackwell ISBN 0-631-22123-9 0-631-22123-9..  83. ^ Watson, I., Buchanan, J., Campbell, I., and Briggs, C. (2003). Fragmented Futures: New Challenges in Working Life. ACIRRT, University of Sydney, NSW: The Federation Press. 84. ^ Smith, N. H. (1997). Strong Hermeneutics: Contingency and Moral Identity. London: Routledge. 2007,, p. 68 Machan observes, "It is futile to deny that owners have and exercise considerable 85. ^ Machan 2007 economic power. Such power is the ability to make what one wants actually happen. When W hen a worker wants to keep a job but the owner does not want to employ him or her, the worker loses out, usually, although on a larger scale this doesn't hold true. Of course, if the worker wants to quit, he or she will win, but that is often the less visible situation. Just consider the worry about downsizing. It is also often true that employers are able to find replacements for workers more readily than workers can find new jobs on their own terms. Even when this is not the case, the worker's situation is deemed to be more dire because of the often greater wealth of the employer. Whether this imbalan imbalance ce of bargaining power is justified or not is what ultimately must be addressed by those who believe that there is greater merit in a free market system than in one that is regimented by government— government—say, via a workers' democracy. 86. ^ Machan 2007 2007,, p. 67 87. ^ Legge, K. The ethics of HRM in dealing with individual employees without collective representation.  Pinnington, Macklin & Campbell 2007 representation. 2007,, pp. 35 ff 88. ^ Morehead, A., Steele, M., Stephen, K., and Duffin, L. (1997). Changes at Work: The 1995 Australian Workplace Industrial Relations Survey. Melbourne: Longman 89. ^ Reinhold, R. (2000). 'Union Membership in 2000: Numbers Decline During Record Economic Expansion', Illinois Labor Market Review, 6. 90. ^ Akyeampong,  Akyeampong, E. E. (1997). 'A S Statistical tatistical Port Portrait rait of the Trade Union Movement', Perspectives on Labour and Income, 9: 45 –54.  –54. 91. ^ Kuruvilla, S., Das, S., Kwon, H., and Kwon, S. (2002). 'Trade Union Growth and Decline in Asia', British Journal of Industrial Relations, 40(3): 431 –  –61. 61. 92. ^ Watson T.J (2003). 'Ethical Choice in Managerial Work: The Scope for Managerial Choices in an Ethically Irrational World', Human Relations, 56(2): 167 –  –85. 85. 93. ^ Woodd, Maureen (1997). "Human resource specialists specialists— —guardians of ethical conduct?". Journal of European Industrial Training  21 (3): 21 (3): 110. 110.doi doi::10.1108/03090599710161810 10.1108/03090599710161810..  management— —the workers' verdict". Human Resource 94. ^ Guest, David E (1999). "Human resource management Management Journal  9 (3): 5.  5. doi doi::10.1111/j.1748-8583.1999.tb00200.x 10.1111/j.1748-8583.1999.tb00200.x..  95. ^ However, weakening of labour unions, what they call 'notorious,' is celebrated as a victory of 'free market' 2007,, p. 29 by moralists bent towards neoliberal ideology ideologyMachan 2007

 

96. ^ Machan justifies his displeasure with unions, "So, unions are notorious for promoting featherbedding, making jobs that have no real function any longer. A most recent case reported involved a new urinal that doesn't require flushing. Don't ask me for the details—it's details—it's a baffling idea. But, the story goes, when in Philadelphia it was recently introduced, the plumber's union negotiated a deal whereby despite the fact that it wasn't needed, plumbing was supplied so that plumbers wouldn't have to find new ne w employment. This kind of thing used to be routine with the railroads, when locomotives were upgraded and unions secured deals whereby the same number of people would continue to man the engines. engines .Machan 2007, 2007, p. 29 97. ^ Desai, M. (1991). Issues concerning setting up of social work specializations in India. International Social Work, 34, 83 –95  –95 performance: erformance: can partnership address the ethical dilemmas?  dilemmas? Pinnington, Macklin 98. ^ Guest, D. E. HRM and p & Campbell 2007, 2007, pp. 52 –  –65 65 99. ^ Storey, D.J. (1985). "THE PROBLEMS FACING NEW FIRMS [1]". Journal of Management Studies  Studies 22 22 (3):  (3): doi::10.1111/j.1467-6486.1985.tb00079.x. 10.1111/j.1467-6486.1985.tb00079.x.  327..doi 327 100.. ^ Ouchi, William G. (1981). Theory Z . New York: Avon Books.  100 Books. ISBN ISBN  978-0-380-59451-1 978-0-380-59451-1..  2007,, p. 3 Introduction: ethical human resource management 101. ^ Pinnington, Macklin & Campbell 2007 101. 102.. ^ Schneider, B., Hanges, P., Smith, D., and Salvaggio, A. (2003). 'Which Comes First: Employee Attitudes 102 or Organizational Financial and Market Performance?', Journal of Applied Psychology, Psychology, 88: 836 –  –51. 51. 103.. ^ Guest, D. E., Michie, J., Conway, N., and Sheehan, M. (2003). 'Human Resource Management and 103 Corporate Performance in the UK', British Journal of Industrial Relations, 41(2): 291 –  –314. 314. 104.. ^ Boxall, P., & Purcell, J. Strategic management and human resources: the pursuit of productivity, flexibility, 104 and legitimacy  legitimacy Pinnington, Macklin & Campbell 2007 2007,, pp. 66 –  –80 80 2002,, pp. 165 –  –185 185 105.. ^ Murphy 2002 105 2005,, p. 3 106.. ^ Jones, Parker & et al. 2005 106 107.. ^ Murphy 2002 107 2002,, pp. 168 –  –169 169 K.  Marketing ethics ethics..Frederic 2002 2002,, pp. 179 108.. ^ Brenkert, G. K. 108 109.. ^ Marcoux, A. (2009). Business-Focused Business Ethics. in Normative Theory and Business Ethics. J. 109 Smith. Plymouth Rowman & Littlefield: pp. 17 –  –34 34  ISBN 0-7425-4841-4 0-7425-4841-4   2003-05-27  "Ethics of Target Marketing: Process, Product or Target?" Target?"  Paper presented at the 110.. ^ Fisher, B., 2003-05-27 110 annual meeting of the International Communication Association, Marriott Hotel, San Diego, CA 111.. ^ Groucutt, J., P. Leadley, et al. (2004). 111 al. (2004).  Marketing: essential principles, new realities realities.. London, Kogan p. 0-7494-4114-3   75 75  ISBN 0-7494-4114-3 112.. ^ Murphey, P. E., G. R. Laczniak, et al. (2007). 112 al. (2007).  "An ethical basis for relationship marketing: a virtue ethics perspective".. European Journal of Marketing  41 perspective" 41:: 37 –  –57 57..doi: doi:10.1108/03090560710718102 10.1108/03090560710718102..  113.. ^ Free as in Freedom: Table of Contents 113 Contents.. Oreilly.com. Retrieved on 2010-09-02.

 

114.. ^ Labelling of GMO Products: Freedom of Choice for Consumers 114 Consumers.. Gmo-compass.org. Retrieved on 201009-02. 115.. ^ EUROPA 115 EUROPA— —Food Safety— Safety—Biotechnology Biotechnology— —GM Food & Feed— Feed—Labelling Labelling.. Ec.europa.eu (2003-09-22). Retrieved on 2010-09-02.  Anand, V.; Rosen, Rosen, C. C. (2008). "The Ethics of Organizational S Secrets". ecrets". Journal of Management 116.. ^ Anand, 116 doi::10.1177/1056492607312785. 10.1177/1056492607312785.  Inquiry  17(2): 17(2): 97.  97. doi 117.. ^ Brenkert, G. K. 117 K.  Marketing ethics ethics  Frederic 2002 2002,, pp. 178 –  –193 193 118.. ^ Murphy 2002 118 2002,, p. 165 (2008).  Building an Ethics of Visual Representation: Contesting 119.. ^ Borgerson, J. L. and J. E. Schroeder (2008). 119 Epistemic Closure in Marketing Communication. Communication. in Cutting Edge Issues in Business Ethics. M. P. Morland and P. Werhane. Boston, Springer pp. 87 –  –108 108  ISBN 1-4020-8400-5  1-4020-8400-5  Dictionary.. Etymonline.com. Retrieved on 2010-09-02. 120.. ^ Online Etymology Dictionary 120 2007,, p. 25 121.. ^ Davies 2007 121 122.. ^ Locke, John (1690) 122 (1690),,Sec. 25 Of Property (chapter 5) 5),, i  in nSecond Treatise on Government: Government : "God, who hath given the world to men in common, hath also given them reason to make use of it to the best advantage of life, and convenience. The earth, and all that is therein, is given to men for the support and comfort of their being. And tho' all the fruits it naturally produces, and beasts it feeds, belong to mankind in common, as they are produced by the spontaneous hand of nature; and no body has originally a private dominion, exclusive of the rest of mankind, in any a ny of them, as they are thus in their natural state: yet being given for the use of men, there must of necessity be a means to appropriate them some way or other, before they can be of any use, or at all beneficial to any an y particular man. The fruit, or venison, which nourishes the wild Indian, who knows no enclosure, and is still a tenant in common, must be his, and so his, i.e. a part of him, that another can no longer have any right to it, before it can do him any good for the support of his life." He continues in sec.27, "Though the earth, and all inferior creatures, be common to all men, yet every man has a property in his own person: this nobody has any right to but himself. The labour of his body, and the work of his hands, we may say, are properly his. Whatsoever then he removes out of the state that nature hath provided, and left it in, he hath mixed his labour with, and joined to it something that is his own, and thereby makes it his property. It being by him removed from the common state nature hath placed it in, it hath by this labour something annexed to it, that excludes the common right of other men: for this labour being the unquestionable property of the labourer, no man but he can have a right to what that is once joined to, at least where there is enough, and as good, left in common for others.  –84. 84. Harris finds this 123.. ^ Harris, J.W. (1996), "Who owns My Body", Oxford Journal of Legal Studies, 16: 55 – 123 argument a 'spectacular non sequitur,' '[f]rom the fact that nobody owns me if I am not a slave, it simply does not follow that I must own myself'(p. 71)

 

124.. ^ Day Patrick, (2002) 124 (2002)  The Self-Ownership Thesis: A Critique Critique.. Locke founded his notion of property rights on the premise of 'self-ownership' of course excluding the slaves from such ownership. Day critiques Locke's ontology saying, "The answer to the question is to be found in Locke's ontology. There exist God, Divine  Artifacts and Human Human Artifacts Artifacts.. God owns Him Himself. self. All ma makers kers own what tthey hey have made, s so o that God also owns Divine Artifacts. There are Direct Divine Artifacts and Indirect Divine Artifacts. The unique Direct Divine Artifact is Land, which God made out of nothing. He made Indirect Divine Artifacts by mingling His Labour with Land. Among these are wild plants, wild animals and Man (Adam and his descendants). God gave Land 'and all inferior creatures' 'to men in common'" (Day, 2002:) 125.. ^ Day, P. J. (1966). "Locke on Property". The Philosophical Quarterly  16 125 16 (64):  (64): 207 – 220.  doi 220. doi::10.2307/2218464. 10.2307/2218464.JSTOR  JSTOR 2218464. 2218464.  126.. ^ Bentham, J. (1931), Theory of Legislation, London: Kegan Paul, p. 113  126 113 ISBN 978-1-103-20150-1  978-1-103-20150-1  asked, sked, "If property is a natural, absolute, imprescriptib imprescriptible, le, and 127.. ^ Proudhon in his essay on property a 127 inalienable right, why, in all ages, has there been so much preoccupation with its origin? For this is one of its distinguishing characteristics. characteristics. The origin of a natural right: Good God, whoever inquired into the origin of 69 ISBN 1the rights of liberty, security, or equality?" Proudhon, P.-J. ([1840] 1969). 1969).  What is property, property, p. 69  60680-212-7   60680-212-7 2007,, p. 27 128.. ^ Davies 2007 128 (1766),  Commentaries on the Laws of England, Volume II, Of the Rights of Things, Things ,  129.. ^ Blackstone, W. (1766), 129 Oxford: Clarendon Press. 130.. ^ Ely, J. W. (2008). The Guardian of Every Other Right. Oxford: Oxford University Press  130 Press ISBN 0-19532332-7.. Ely notes, 'In 1740 South Carolina declared slaves "to be chattels personal, in the hands of their 532332-7 owners and possessors ' Because slaves were property, they could be purchased, sold, inherited, taxed, or seized to pay the master's debts… The slave codes also minutely governed the slaves' activities, prohibiting them from assembling, running away, owning goods or livestock, or using fi rearms. Moreover, it was unlawful to sell liquor to slaves or to teach them to read and write. Final Finally, ly, crimes committed by slaves received harsher punishment than did equivalent offenses by free persons (p. 15). 131.. ^ Wishart, D. J. (1994). 131 (1994).   An An Unspeakable Sa Sadness dness The Dispossession Dispossession of the the Nebraska Indians Indians.. Lincoln: University of Nebraska Press  Press  ISBN 0-8032-9795-5  0-8032-9795-5  132.. ^ "Jefferson's Instruct 132 Instructions ions to Lewis, June 20, 1803"L 1803" Letters of the Lewis and Clark Expedition with Related Documents, 17831854, ed. Donald Jackson (Urbana: University of Illinois Press, 1978) 1: 6166. 2005   133.. ^ Robertson 2005 133 (2008).  Identity and the Failure of America. Minneapolis: Minneapolis: University of Minnesota Press. Press .  134.. ^ Michael, J. (2008). 134 Michael observes that Thomas Jefferson, in spite of all his freedom speeches, was himself a slave owner, owning slaves as his property, p.45

 

135.. ^ In this regards Ross (1994:14) notes, "within the liberal context the private nature of property 135 p roperty is naturalized and universalized, as though other forms are somehow less ethically e thically defensible" 136.. ^ Rose 1994 136 1994,, p. 58 Rose observes, "What is the purpose of property under this . . . understanding? The purpose is to accord to each person or entity what is 'proper' or 'appropriate' to him or her. Indeed, this understanding of property historically made no strong distinction between 'property' and 'propriety', and one finds the terminology mixed up to a very considerable degree in historical texts. texts. And what is 'proper 'proper'' or appropriate, on this vision of property, is that which is needed to keep good order in the commonwealth or body politic" question stion whether the origin of any an y kind of property is derived from 137.. ^ Jefferson wrote, "[W]hile it is a moot que 137 nature at all, it would be singular to admit a natural and even an hereditary right to inventors. It is agreed by those who have seriously considered the subject, that no individual has, of natural right, a separate property in an acre of land, for instance. By an universal law, indeed, whatever, whether fixed or movable, belongs to all men equally and in common, is the property for the moment of him who occupies it, but when he relinquishes the occupation, the property goes with it. Stable ownership is the gift of social law, and is given late in the progress of society. It would be curious then, if an idea, the fugitive fermentation of an individual brain, could, of natural right, be claimed in exclusive and stable property." property."Jeferrson's Letter to McPherson  in, Boyle, J. (2008). The Public Domain: Enclosing the Commons of the Mind. New Haven: Yale McPherson 0-300-13740-0..  University Press  Press ISBN 0-300-13740-0 138.. ^ Daykin, Jeffer B. (2006). ""They Themselves Contribute to Their Misery by Their Sloth": The Justification 138 of Slavery in Eighteenth-Century French Travel Narratives". The European Legacy  11 11 (6):  (6): 623..doi: 623 doi:10.1080/10848770600918117. 10.1080/10848770600918117.  139.. ^ Gordon, D. (2009). 139 (2009).  Gender, Race and Limiting the Constitutional Privilege of Religion as a Haven for Bias: The Bridge Back to the Twentieth Century. Century. Women's Rights Law Reporter, p. 30. 140.. ^ Sandoval, Alonso De. (2008). 140 (2008).  Treatise on Slavery: Selections from De instauranda Aethiopum salute. salute.  Indianapolis: Hackett Publishing Company, Inc. pp. 17, 20 141.. ^ Bay, M. (2008). Polygenesis Versus Monogenesis In Black and White. In J. H. Moore (Ed.), Encyclopedia 141 of Race and Racism (Vol. 1, pp. 90 –  –93). 93). Detroit: Macmillan Reference:91 142.. ^ Baum, B. (2006). 142 (2006).  The Rise and Fall of the Caucasian Race: A Political History of Racial Identity Identity.. New York: New York University Press,  Press, ISBN 0-8147-9892-6 0-8147-9892-6  p. 35 143.. ^ Skinner, D (2006). "Racialized Futures: Biologism and the Changing Politics of Identity". Social Studies of 143 Science  36(3): Science 36(3): 459 –  –488. 488.  doi doi::10.1177/0306312706054859. 10.1177/0306312706054859.JSTOR  JSTOR 25474453. 25474453.  144.. ^ Jensen, E. M. (1991). The Good Old Cause': The Ratification of the Constitution and Bill of Rights in 144 South Carolina. In R. J. Haws (Ed.), The South's Role in the Creation of the Bill of Rights. Jackson: University Press of Mississi Mississippi. ppi.

 

145.. ^ Following a bitter debate over the importation of slaves from abroad, Congress was denied the authority 145 to prohibit the slave trade until 1808. The rendition of escaped slaves was also a priority for southerners.  Accordingly, the the fugitive slav slave e clause declare declared d that persons h held eld to service or labor under state llaw aw "shall be delivered up on Claim of the Party to whom such Service or Labour may be due." (Ely, 2008:46) Constitutionalism alism in America, 1760 –  –1848. 1848. New York: 146.. ^ Wiecek, W. M. (1977). The Sources of Antislavery Constitution 146 Cornell University Press:63 147.. ^ Tom Bethell 147 Bethell  "Private Property"  Property" Hamowy, Kuznicki & Steelman 2008 2008,, pp. 393 History.. Digitalhistory.uh.edu. Retrieved on 2010-09-02. 148.. ^ Digital History 148 a  b 

2007, p. 20 149. ^  ^     Davies 2007, 150.. ^ "Property is something we must collectively define and construct. It is not given to us whole; it does not 150 emerge fully formed like Athena from Zeus's head. It is closer to a piece of music that unfolds over time. Like music, property gets its sense of stability from the ongoing creation and resolution of various forms of tension. The tensions that inform property are the tensions inherent in social relations. The solutions to the problems of property conflicts lie in understanding the connection between property and human relationships. Relationships sometimes sometimes form stable patterns, but they are also ongoing and constantly renegotiated. cultural norms. It is argued that there is no simple definition of property that can be posited without making controversial value judgments about how to choose between conflicting interests" interests"— —Singer 2000,, p. 13 2000 2000,, p. 9 151.. ^ Singer 2000 151  –30. 30. Cohen commenting on 152.. ^ Cohen, M. R. (1927). Property and Sovereignty. Cornell Law Quarterly, 13, 8 – 152 the power dimension of property noted, "we must not overlook the actual fact that dominion over things is also imperium over our fellow human beings" p. 13 153.. ^ Rose 1994 153 1994,, p. 14 154.. ^ "'Property' has no essential character, but is rather a highly flexible set of rights and responsibilities which 154 congeal in different ways in different contexts"  contexts"  Davies 2007 2007,, p. 20 155.. ^ Singer 2000 155 2000,, p. 8 Economics. New York, Harper Collins. 156.. ^ Cooter, R. and T. Ulen (1988). Law and Economics. 156 157.. ^ Honore, A. M. (1961). Ownership. In A. G. Guest (Ed.), Oxford Essays in Jurisprudence. London: Oxford 157 University Press.; Becker, L. (1980). The Moral Basis of Property Rights I n J. Pennock & J. Chapman (Eds.), Property. New York: New York University Press.. 158.. ^ However, some scholars often use the terms ownership, property and property rights interchangeably, 158 while others define ownership (or property) as a set of specific rights each attached to the vast array of uses accessible by the owner. Ownership has thus been interpreted as a form of aggregation of such social relations—a bundle of rights over the use of scarce resources . Alchian, A. A. (1965). Some Economics of relations— Property Rights. Il Politico, 30, 816 –  –829 829

 

159.. ^ Epstein, R. A. (1997). 159 (1997).  "A Clear View of the Cathedral: The Dominance of Property Rules". Rules" . Yale Law Journal  106 106 (7):  (7): 2091 –  –2107. 2107.  doi: doi:10.2307/797162 10.2307/797162.. JSTOR JSTOR  797162. 797162. "Bundle of rights is often interpreted as 'full control' over the property by the owner" (2001). 1).  "What Happened to Property in Law La w and Economics?". Economics?". Yale Law 160.. ^ Merrill, T. W., & Smith, H. E. (200 160 doi::10.2307/797592. 10.2307/797592. JSTOR  JSTOR 797592 797592..  Journal  111 111(2): (2): 357 –  –398. 398.  doi 161.. ^ Property has been conceptualized as absolute ownership with full control over the owned property without 161 being accountable to anyone else  else  Singer 2000, 2000, p. 29. 162.. ^ Demsetz, H. (1988). A Framework for the Study of Ownership. In H. Demsetz (Ed.), Ownership, Control, 162 and the Firm (Vol. I, pp. 12 –  –27). 27). Oxford: Blackwell. Further, it is held, the ownership goes beyond what is describable. Demsetz claims that the notion of "full private ownership" over assets is "vague", and "[i]n one sense, it must always remain so, f or or there is an infinity of potential rights of actions that can be owned […]. It is impossible to describe the complete set of rights that are potentially ownable. 163.. ^ Rose 1996 163 1996,, pp. 329 –  –365 365 Property as the Keystone Right? Notre Dame Law Review 71 fragile— —much more so than one would think from its sheer persistence. A central 164.. ^ "Property itself is fragile 164 feature of this fragility is this: property entails the cooperation of others. You cannot have property all alone. Even the rule of First Possession, seeming seemingly ly so quintessentially individualistic, depends on the recognition and acquiescence of others; they must know what you are claiming, and tacitly agree to let you hold it — even against their own interests.… No trust, no property" Michelman, F. I. (1982). Ethics, Economics, and the Law of Property. In J. R. Pennock & J. W W.. Chapman (Eds.), Nomos: Ethics, Economics, Economics, and the Law (Vol. 24, pp. 3 –40).  –40). New York: New York University Press. 165.. ^ Menon observes, "Atomy, in short, is selfishness and free fulfillment of sovereign self at the cost of the 165 other. Atomy is reified as if it were autonomy within the social construction of the mythology of individuality". p. 15 Menon, Madhu (2008).  (2008).  Suicide as unfreedom and vice versa. versa . Norderstedt: GRIN Verlag  Verlag ISBN 3-64018334-7   18334-7 50 (2): 166.. ^ Gray, Kevin (2009). "Property in Thin Air". The Cambridge Law Journal  50 (2): 166 252..doi: 252 doi:10.1017/S0008197300080508. 10.1017/S0008197300080508.  167.. ^ Penner, J. E. (1997). 167 (1997).  The Idea of Property in Law Law.. Oxford: Clarendon Press  Press  ISBN 0-19-826029-6 0-19-826029-6  In explaining the identity crisis of 'property' Penner wrote, "'You see', property will say, 'now I am not even my own idea. I'm just a bundle of other concepts, a mere chimera of an entity. I'm just a quivering, wavering, normative phantasm, without any home, without anything to call my own but b ut an album full of fading and tattered images of vitality and consequence and meaning. I'm depressed." p. 1  Any space may may be subject to plural meanings or appropriations w which hich do not necess necessarily arily come in into to 168.. ^ Any 168 conflict: pastoralists pastoralists and Indigenous people may h have ave quite different understandings of rural landscapes reflected in different types of property interests, which can— can —ideally ideally— —coexist legally. A nominally open public space may have 'private' or limited meanings imposed upon it— it —for instance religious meanings

 

(Urban spaces such as privately owned but publicly accessible accessible shopping malls are increasingly of a 'quasi'public nature. At the same time, intrusions of public norms into personal proprietary spaces through, for instance, zoning, heritage, and environmental en vironmental regulations, militate against seeing 'private' property as entirely private. Social transitions which transgress neat liberal distinctions put the theory under strain in key points: where the owners of a quasi-public space like a shopping mall try to enforce a dress code or standards of behaviour, private proprietorial power intrudes into the public sphere sphere  Davies 2007, 2007, p. 11  AJ van der Walt notes, "forc "forced ed removals and the restrictions upon free movement a and nd economic act activity ivity 169.. ^ AJ 169 that accompanied state-enforced racial segregation, helped to secure  secure white privilege privilege  while at the same time politically and economically marginalising marginalising millions of black South Africans. Walt, AJ. (2009). Property in the Margins. Oxford: Hart Publishing,  Publishing,  ISBN 1-84113-963-7 1-84113-963-7  p. 2 170.. ^ Fischbach, M. R. (2003). 170 (2003).  Records of Dispossession: Palestinian Palestinian Refugee Property and the Arab-Israeli Conflict.. New York: Columbia University Press Conflict Press  ISBN 0-231-12978-5. 0-231-12978-5. In this book Fischbach discusses discusses on forceful dispossession of Palestinian property by Israel great eat extent, in other former British colonies, the legal rule 171.. ^ Robertson observes, "In this country and, to a gr 171  justifying claims claims to indigenous lands discovered by Europeans traces tto o the 1823 decision decision of the Supreme Supreme M'Intosh.. Johnson contained the "discovery doctrine, doctrine, which Court of the United States in  in Johnson v. M'Intosh answered the question: What rights did Europeans acquire, and indigenous peoples lose, upon the discovery of the New World? The answer, according to the Court, was ownership of all discovered lands. Discovery converted the indigenous owners of discovered lands into tenants on those lands. The underlying title belonged to the discovering sovereign. The indigenous occupants were free to sell their "lease," but only to the landlord, and they were subject to eviction at any time. More than 180 years later, the discovery  –x x doctrine is still the law".  law".  Robertson 2005, 2005, pp. ix – 172.. ^ Sax, J. L. (1971). "Takings, Private Property and Public Rights". Yale Law Journal  (see 172  (see pp. 149, 152) 81 81 (2):  (2): 149 –  –186. 186.  doi doi::10.2307/795134. 10.2307/795134. JSTOR JSTOR  795134 795134..  2000,, p. 6 173.. ^ Singer 2000 173 174.. ^ Hohfeld, W. (1913). "Some Fundamental Legal Conceptions as Applied in Judicial Reasoning I". Yale Law 174 Journal  23 (1): 23 (1): 16 –  –59. 59.  doi doi::10.2307/785533 10.2307/785533..JSTOR JSTOR  785533 785533..  175.. ^ Hohfeld, W. (1917). "Some Fundamental Legal Conceptions as Applied in Judicial Reasoning II". Yale 175 10.2307/786270..JSTOR JSTOR  786270. 786270.  Law Journal  26 (8): 26 (8): 710 –  –770. 770.  doi: doi:10.2307/786270 176.. ^ Miunzer, S. R. (1990). A theory of property. Cambridge: Cambridge University Press, p. 17 176 177.. ^ Bryan, B. (2000). Property as Ontology: on Aboriginal and English Understandings of Property. Canadian 177 Journal of Law and Jurisprudence, 13, 3 –  –31. 31. In this article Bradley Bryan claimed that property is about much more than a set of legal relations: it is 'an expression of social relationships because it organizes people with respect to each other and their material environment' p. 4 178.. ^ Arendt, 178  Arendt, H. (1958). The The Human Condition. Chicago: Chicago: Universit University y of Chicago P Press, ress, p. 7

 

179.. ^ Singer 2000 179 2000,, p. 16 180.. ^ "The 180 "The  legal realists realists  understood property rights as relationships only in the formal sense. They acknowledged that rights impose duties on others and that liberties impose vulnerabilities on those affected by the exercise of those liberties. In deciding whether those duties and those vulnerabilities were fair, they suggested that lawmakers balance the interests of those harmed by entitlements against those who benefit from them. This balancing solution did not take seriously the idea that legal rules both respond to and shape the contours of social relations. They did not, in other words, take the character and structure of social relations as an important independent factor in choosing the rules that govern market life. Economists may similarly fail to give sufficient attention to the moral and customary underpinnings of market societies. The idea of balancing interests is a useful one, but it does not quite get at what is at stake in constructing 2000,, p. 11 Singer further states, "Problems property law. What is at stake is a vision of social life"  life"  Singer 2000 emerge when abstract property concepts meet the disputes over property that arise between people in the real world. The ownership model fails to acknowledge the substantial limitations on property rights that are necessary to protect the interests of both owners and nonowners harmed by the e exercise xercise of those rights. Conflicts among owners are quite prevalent. In some cases one owner's exercise of her lawful property rights interferes with other owners' rights in their own property. We also need n eed to restrict property rights in situations where they impinge on nonproperty rights we hold as dearly". (p. 31) 2008,, p. 10 181.. ^ Boldrin & Levine 2008 181 182.. ^ Drahos and Braithwaite write, "When in 1994 we interviewed a former  US trade negotiator , he remarked 182 that 'less than 50 individuals' were responsible for TRIPS. Less than 50 individuals had managed to globalize a set of regulatory norms for the conduct of all those doing business or aspiring to do business in 2002,, p. 73 the information age" age"Drahos & Braithwaite 2002 a  b 

183. ^  ^     Steelman, A. Intellectual Property Property..Hamowy, Kuznicki & Steelman 2008, 2008 , pp. 249 –  –250 250 184.. ^ We shall see that when monopoly over ideas is absent, competition is fierce— 184 fierce—and that, as a result, innovation and creativity thrive. Whatever a world without patents pa tents and copyrights would be like, it would not be a world devoid of great new music and beneficial new drugs." They substantiate their argument by showing instances of key innovation in software industry prior to 1981, before the advent of patent protection protect ion … The best evidence that copyright and patents are not needed and that competition leads to thriving innovation in the software industry is the fact that there is a thriving and innovative portion of the industry that has voluntarily relinquished its intellectual monopoly— monopoly—both copyright and patent.  patent.  Boldrin & Levine 2008, 2008, pp. 10, 16 –  –17 17 185.. ^ Välimäki, M. (2005). The Rise of Open Source Licensing: A Challenge to the Use of Intellectual Property 185 in the Software Industry. Helsinki: Turre Publishing  Publishing ISBN 952-91-8769-6 952-91-8769-6..  2008,, p. 249 186.. ^ Hamowy, Kuznicki & Steelman 2008 186

 

187.. ^ The South African Medicines and Related Substances Control Amendment Bill and TRIPS 187 TRIPS..   Academic.udayton.edu.  Academic.uday ton.edu. Retrieved on 2010-09-02. 188.. ^ Orsi, F., Camara, M., & Coriat, B. ((2006). 188 2006). AIDS, TRIPS and 'TRIPS plus': the case for developing and less  –108 108 developed countries.  countries. Andersen  Andersen 2006, 2006, pp. 70 – speaking, when a large l arge pharmaceutical 189.. ^ The authors of the book "Information Feudalism" state: Generally speaking, 189 company develops a therapeutic compound, it surrounds that compound with a wall of intellectual property protection. Patents are taken out on all aspects of the compound, including the compound itself, dosage methods and processes of making it. Some knowledge is held back and protected under trade-secret law, brand name identity is protected through trade mark law and a lot of written information is protected by copyright. The whole point of building this wall is to ensure that protection lasts well beyond the term of any single patent and keeps cheaper generic manufacturers out of the market for as long as possible. For people in developing countries living on one or two dollars a day, the price of anti-retroviral anti- retroviral therapies represented a king's ransom. In some countries co untries such as South Africa, some treatments were in fact more expensive. As an aside we might note that the phenomenon of patented medicines being more expensive in developing countries is not unusual. The logic of patent monopoly is to have a safe and secure distribution system aimed at selling smaller numbers of expensive medicines to a wealthy class, rather than trying to distribute large numbers of cheap medicines at a few cents a day to the many poor. When large pharmaceutical companies speak about 'growing the market' in developing countries, it is the wealthy segment of the market they have in mind" mind"  Drahos & Braithwaite 2002, 2002 , p. 6 190.. ^ Andersen 190  Andersen & 2006 pp109 –  –147 147   191.. ^ Roderick Long in 191 in  Hamowy, Kuznicki & Steelman 2008 2008,, pp. 249 –  –250 250 192.. ^ Machlup, F. (1958). An Economic Review of the Patent System. Washington D.C.: US Government 192 Printing Office, p. 80. Expressing similar concern Fritz Machlup wrote, "It would be irresponsible, on the basis of our present knowledge of o f its economic consequences, to recommend instituting [a patent system]. system]."" 193.. ^ Proudhon (1847), 193 (1847),  Chapter VI VI  in The Philosophy of Poverty. The  Sherman Act Act  of 1890, was passed in America to stop rampant cartelization and monopolization in the 194.. ^ The 194 1914, Federal Trade Commission Act Act  of 1914, 1914,[1] [1]  and  American economy, economy, followed by the  the Clayton Act  Act of 1914,  the  the Anti-Price  Anti-Price Discrimination Discrimination Act Act  of 1936. In recent years, "antitrust antitrust"" enforcement is alleged to have reduced competition. E.g., "antitrust is anticompetitiv anticompetitive" e" writes Boudreaux Antitrust Antitrust.. Hamowy, Kuznicki & Steelman 2008,, pp. 16 2008 195.. ^ Mindeli, L. E.; Pipiya, L. K. (2007). "Conceptual aspects of formation of a knowledge-based 195 10.1134/S1075700707030100.  economy". Studies on Russian Economic Development  18 18 (3):  (3): 314. 314.doi: doi:10.1134/S1075700707030100. 196.. ^ Allison, 196  Allison, R. (2005). (2005). The Birth of Spiritual Econo Economics mics In L. Z Zsolnai solnai (Ed.), Spirituality Spirituality and eth ethics ics in management (Vol. 19, pp. 61 –  –74). 74). New York: Springer:73

 

(2008).   Against Against Intell Intellectual ectual Property. Property. Alabama: Ludwig von Mises Institute. Kinsella writes, 197.. ^ Kinsella, S. (2008). 197 "Ideas are not naturally scarce. However, by recognizing a right in an ideal object, one creates scarcity where none existed before" p. 33 198.. ^ Andersen 198  Andersen 2006, 2006, p. 125  –23 23 January). Will Building 'Good Fences' Really Make 'Good Neighbours'. Paper 199.. ^ David, P. (2001, 22 – 199 presented at the Science, report to European Commission (DG-Research) STRATA-ETAN STRATA-ETAN workshop on IPR aspects of internal collaborations, Brussels. 200.. ^ Bouckaert, B (1990). "What is Property?" In "Symposium: Intellectual 200 Intellectual Property." Harvard Journal of Law & Public Policy 13(3) p. 793 201.. ^ Andersen 201  Andersen 2006, 2006, p. 109 "Capturing value from intellectual capital and knowledge-based assets has become the new mantra. The battles are not for control of raw materials, but for the control of the most dynamic strategic asset, namely 'productive knowledge'" 202.. ^ Macmillan, F. (2006). Public interest and the public domain in an era of corporate dominance.  202 dominance.  Andersen Andersen 2006,, pp. 46 –69 2006  –69 203.. ^ The spatial-distantiation is globalization and the temporal distantiation is futurization. Futurization futurizes 203 the present and globalization globalizes the local. Combined, they drive away politics out of place and time, reducing life into bare life. Moreover, the stretching of time and space as it has brought global to the local it has also brought the future to the present. In the earlier times it was the past that directed the present in the form of tradition and culture. With W ith the shift in spatio-temporality, it is no longer the past, but the future that pulls human destiny, of course in increasing degrees. The social-time, if left in its present course of direction and acceleration it would incessantly outdate not only the people living in the present but also destine those yet to be born. The velocity of movement towards the future through speculative investment by the power elite, if unconstrained, indeed would invert the social time and space into irredeemable black hole and 2008  Suicide as unfreedom and vice versa  versa  refuse politics for everyone not yet born.  born.  Menon 2008 2002   204.. ^ Drahos & Braithwaite 2002 204 205.. ^ Andersen 205  Andersen 2006, 2006, pp. 63 206.. ^ Enderle, Georges (1999). International Business Ethics. 206 Ethics.University of Notre Dame Press. Press. p. 1.  1. ISBN ISBN  0268-01214-8..  268-01214-8 Ethics. ISBN ISBN  0-412-46080-7. 0-412-46080-7.  207.. ^ George, Richard de (1999). Business Ethics. 207 208.. ^ Machan 2007 208 2007..Frederic 2002 2002,, pp. 88 (1970).  "The Social Responsibility of Business is to Increase Profit", Profit" , The New York Times 209.. ^ Friedman, M. (1970). 209 Magazine.. Magazine a  b 

Agamben, G. (1993) (1993)  The Coming Community Community,, trans. Michael Hardt. Minneapolis: University of 210. ^  ^      Agamben, Minnesota Press, p. 43  43 ISBN 0-8166-2235-3 0-8166-2235-3   211.. ^ Hasnas 2005 211 2005,, pp. 15 –  –18 18

 

212.. ^ United States of America, Plaintiff-appellee, v. Kristine D. Vasarajs, Defendant-appellant— 212 Defendant-appellant—908 F.2d 443— 443— Justia US Court of Appeals Cases and Opinions Opinions.. Cases.justia.com. Retrieved on 2010-09-02. 213.. ^ Coleman, J. W. (1987). "Toward an Integrated Theory of White-Collar Crime". American 213 Crime". American Journal of doi::10.1086/228750. 10.1086/228750. JSTOR JSTOR  2779590 2779590..  Sociology  93 93 (2):  (2): 406 –  –439. 439.  doi White -collar 214.. ^ Shapiro, B. (1995). "Collaring the Crime, not the Criminal: Reconsidering the Concept of White-collar 214 doi::10.2307/2095761 10.2307/2095761.. JSTOR  JSTOR 2095761. 2095761.  Crime". American  American Sociological Sociological Review  55 55 (3):  (3): 346 –  –65 65..doi 215.. ^ Enker, A. N. (1969). 215 (1969).  "Impossibilit "Impossibility y in Criminal Attempts— Attempts—Legality and the Legal Process". Process" . Minnesota Law Review 53: 53: 665. 216.. ^ Coffee, J. C. J. (1981). ""No Soul to Damn: No Body to Kick": An Unscandalized Inquiry into the Problem 216 10.2307/1288201.. JSTOR  JSTOR 1288201 1288201..  of Corporate Punishment". Michigan Law Review  79 79 (3):  (3): 386 –  –459. 459.  doi: doi:10.2307/1288201 2005   217.. ^ Jones, Parker & et al. 2005 217 218.. ^ Jones, Parker & et al. 2005 218 2005,, pp. 3 –  –8 8 219.. ^ Serenko, A. and Bontis, N. (2009). 219 (2009).  "A citation-based ranking of the business ethics scholarly  journals"..International Journal of Business Governance and Ethics  journals" Ethics  4(4): 390 – doi::10.1504/IJBGE.2009.023790. 10.1504/IJBGE.2009.023790. Retrieved 2009-10-21. 399.  doi 399. 220.. ^ Post a Job. 220 Job.  "IBD Institute" Institute".. IBD Institute. Retrieved 2013-06-04. http://www.ibdinstitute.asia   221.. ^ http://www.ibdinstitute.asia 221 222.. ^ Jonathan Chan 222 Chan  Confucian Business Ethics and the Nature of Business Decisions  Decisions   12   223.. ^ Matthew 7: 12 223 224.. ^ Mcdaniel, Charles (2011). 224 (2011).  ""Theology of the "Real Economy"". Economy"". Journal of religion and business ethics  ethics 2. 225.. ^ Christoph Luetge (ed.): Handbook of the Philosophical Foundations of Business Ethics. Heidelberg/New 225 York: Springer 2013,  2013,  ISBN 978-9400714953 978-9400714953..