Corporate Beneficence and COVID-19

2020 ◽  
Vol 27 (1) ◽  
pp. 15-26
Author(s):  
Daniel T. Ostas ◽  
Gastón de los Reyes

This article explores the motives underlying corporate responses to the COVID-19 pandemic. The analysis begins with Thomas Dunfee’s Statement of Minimum Moral Obligation (SMMO), which specifies, more precisely than any other contribution to the business ethics canon, the level of corporate beneficence required during a pandemic. The analysis then turns to Milton Friedman’s neoliberal understanding of human nature, critically contrasting it with the notion of stoic virtue that informs the works of Adam Smith. Friedman contends that beneficence should play no role in corporate settings. Smith, by contrast, emphasizes the need for prudence, beneficence and self-command in all human endeavours. The article then uses these competing frameworks to reflect on a published survey of 145 corporate responses to COVID-19. In many of these responses, the benefit to a non-financial stakeholder is clear, while the financial consequence to the firm remains nebulous. This supports the contention that during a pandemic, beneficence provides a more complete explanation of many corporate actions than the profit motive alone. The article contests Friedman’s Chicago School profit imperative and goes beyond Dunfee’s SMMO by endorsing the more full-throated embrace of beneficence and stoic virtue found in the works of Smith.


Author(s):  
Tetsuo Taka

AbstractThis paper aims to extend and provide a new understanding of Adam Smith’s thoughts by focusing on some revisions in the 4th edition of The Theory of Moral Sentiments (Smith 1774), “the nutritional value theory of corn” in the Wealth of Nations, and then comparing Smith’s discourses on the formation of morality with C. Darwin’s. Smith’s understanding of human nature extended and deepened with the study of botany and other sciences at Kirkcaldy after spending 2 years in France as Duke Buccleugh’s tutor. He began to understand human nature not only as a composite of self-love and benevolence, but also of instinctual and experiential knowledge. Thus, Smith’s system transitioned to an evolutionary one, and he became an unconscious forerunner of the Darwinian theory of morality formation.



Philosophia ◽  
2021 ◽  
Author(s):  
Marja K. Svanberg ◽  
Carl F. C. Svanberg

AbstractThis paper will show that if we take conventional ethics seriously, then there is no moral justification for business profits. To show this, we explore three conventional ethical theories, namely Christian ethics, Kantian ethics and Utilitarian ethics. Since they essentially reject self-interest, they also reject the essence of business: the profit motive. To illustrate the relationship, we will concretize how the anti-egoist perspective expresses itself in business and business ethics. In business, we look at what many businesses regard as proof of their virtue. In business ethics, we look at what many business ethicists say about the relationship between morality and self-interest and, thus, the profit motive. Ultimately, we will argue that conventional ethics can, at most, only justify the means of business (i.e., aspects of running a business), but not the end of business (i.e., profits).



2017 ◽  
Vol 8 (1) ◽  
pp. 8
Author(s):  
Sibel Oktar Thomas

The moral nature of corporations has been discussed for a long time. But, since 2001, with enormous economic effects of the misconduct of some corporations this discussion gained another dimension, it moved into the public sphere, the subject became more sensitive. The anger and mistrust of the public toward business triggered legislators and corporations to take urgent action. For example, just after the collapse of Enron (2001) the American Congress passed the Sarbanes-Oxley Act (2002) that covers the responsibilities of boards of directors and requires compliance training at all levels. It also revived the old controversial arguments about the nature of business – whether the only purpose of business is to make profits, the relationship of business and ethics – whether business ethics is an oxymoron, and human nature – whether it is ‘bad apples’ or ‘bad barrels’. Yet, with new sets of regulations, in 2017, we are still witnessing the misconduct of corporations on a global scale. This article investigates the effectiveness of corporate efforts such as revisiting mission statements, polishing the codes of ethics and conducting training, by evaluating the nature of business, human nature and the understanding of ethics in the workplace. By looking through the lens of utilitarianism of ethical issues in business, I will argue that codes of ethics and ethics training are necessary but not sufficient. Within the scope of this paper I wish to pave the way to a holistic approach which is necessary and sufficient to create ethical businesses.



1999 ◽  
Vol 16 (1) ◽  
pp. 1-43 ◽  
Author(s):  
Douglas B. Rasmussen

If “perfectionism” in ethics refers to those normative theories that treat the fulfillment or realization of human nature as central to an account of both goodness and moral obligation, in what sense is “human flourishing” a perfectionist notion? How much of what we take “human flourishing” to signify is the result of our understanding of human nature? Is the content of this concept simply read off an examination of our nature? Is there no place for diversity and individuality? Is the belief that the content of such a normative concept can be determined by an appeal to human nature merely the result of epistemological naiveté? What is the exact character of the connection between human flourishing and human nature?These questions are the ultimate concern of this essay, but to appreciate the answers that will be offered it is necessary to understand what is meant by “human flourishing.” “Human flourishing” is a relatively recent term in ethics. It seems to have developed in the last two decades because the traditional translation of the Greek term eudaimonia as “happiness” failed to communicate clearly that eudaimonia was an objective good, not merely a subjective good.



Author(s):  
David Fate Norton

Francis Hutcheson is best known for his contributions to moral theory, but he also contributed to the development of aesthetics. Although his philosophy owes much to John Locke’s empiricist approach to ideas and knowledge, Hutcheson was sharply critical of Locke’s account of two important normative ideas, those of beauty and virtue. He rejected Locke’s claim that these ideas are mere constructs of the mind that neither copy nor make reference to anything objective. He also complained that Locke’s account of human pleasure and pain was too narrowly focused. There are pleasures and pains other than those that arise in conjunction with ordinary sensations; there are, in fact, more than five senses. Two additional senses, the sense of beauty and the moral sense, give rise to distinctive pleasures and pains that enable us to make aesthetic and moral distinctions and evaluations. Hutcheson’s theory of the moral sense emphasizes two fundamental features of human nature. First, in contrast to Thomas Hobbes and other egoists, Hutcheson argues that human nature includes a disposition to benevolence. This characteristic enables us to be, sometimes, genuinely virtuous. It enables us to act from benevolent motives, whereas Hutcheson identifies virtue with just such motivations. Second, we are said to have a perceptual faculty, a moral sense, that enables us to perceive moral differences. When confronted with cases of benevolently motivated behaviour (virtue), we naturally respond with a feeling of approbation, a special kind of pleasure. Confronted with maliciously motivated behaviour (vice), we naturally respond with a feeling of disapprobation, a special kind of pain. In short, certain distinctive feelings of normal observers serve to distinguish between virtue and vice. Hutcheson was careful, however, not to identify virtue and vice with these feelings. The feelings are perceptions (elements in the mind of observers) that function as signs of virtue and vice (qualities of agents). Virtue is benevolence, and vice malice (or, sometimes, indifference); our moral feelings serve as signs of these characteristics. Hutcheson’s rationalist critics charged him with making morality relative to the features human nature happens at present to have. Suppose, they said, that our nature were different. Suppose we felt approbation where we now feel disapprobation. In that event, what we now call ‘vice’ would be called ‘virtue’, and what we call ‘virtue’ would be called ‘vice’. The moral sense theory must be wrong because virtue and vice are immutable. In response, Hutcheson insisted that, as our Creator is unchanging and intrinsically good, the dispositions and faculties we have can be taken to be permanent and even necessary. Consequently, although it in one sense depends upon human nature, morality is immutable because it is permanently determined by the nature of the Deity. Hutcheson’s views were widely discussed throughout the middle decades of the eighteenth century. He knew and advised David Hume, and, while Professor of Moral Philosophy at Glasgow, taught Adam Smith. Immanuel Kant and Jeremy Bentham, among other philosophers, also responded to his work, while in colonial America his political theory was widely seen as providing grounds for rebellion against Britain.



ruffin_darden ◽  
2004 ◽  
Vol 4 ◽  
pp. 129-133
Author(s):  
David M. Messick ◽  

While there seems to be little controversy about whether there is a biological or evolutionary basis for human morality, in business and other endeavors, there is considerable controversy about the nature of this basis and the proper populations in which to study this foundation. Moreover, I suggest, the most fundamental element of this basis may be the tendency of humans and other species to experience the world in evaluative terms.





1999 ◽  
Vol 9 (1) ◽  
pp. 37-45 ◽  
Author(s):  
Kay Mathiesen

Solomon’s article and Binmore’s response exemplify a standard exchange between the game theorist and those critical of applying game theory to ethics. The critic of game theory lists a number of problems with game theory and the game theorist responds by arguing that the critic’s objections are based on a misrepresentation of the theory. Binmore claims that the game theorist is in the position of the innocent man who, when asked why he beats his wife, must explain that he doesn’t beat his wife at all (Binmore, 2). However, even if we agree that the denial is true, we might still like to know why, if you are not beating your wife, do others consistently accuse you of doing so? Or, to get away from this rather sexist metaphor, why are critics of game theory like Solomon (according to game theorists) consistently getting game theory wrong?While, as I argue in the first section, critics of game theory such as Solomon may misrepresent game theory, this misrepresentation is not entirely their own fault. The way in which game theory is traditionally presented is misleading. For example, students are usually first introduced to game theory through the prisoner’s dilemma. It is compelling drama, but lousy PR for the use of ethics in game theory. (You want to know what to do? Let’s see how two thieves reason.) However, while Binmore is right to argue that game theory neither assumes nor entails the theory of human nature that Solomon finds objectionable, Solomon is also right to argue that game theory is promulgated and applied with what appear to be a robust set of assumptions about human motivation. I argue in the second section, however, that in fact neither these applications of game theory, nor game theory itself, is committed to a particular theory of human motivation. Thus, while game theory is not able to provide a complete ethical theory (assuming that a theory of human motivation is essential to such a theory), it is not contrary to ethics. In the final section I note that Aristotle, rather than being the alternative to using game theory in business ethics, as Solomon suggests, actually points the way to an ethical theory that can combine a discussion of both game theory and “those nagging and controversial questions about what it is that people do and ought to care about” (Solomon, 7).





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