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Copyright, iv
Preface, xi
Introduction, 1
1. Ethics and Business, 3
Horatio Alger and Stock Options, 3
The Myth of Amoral Business, 5
The American Business Value System, 8
The Relation of Business and Morality, 11
Business Ethics and Ethics, 17
Study Questions, 28
Moral Reasoning in Business, 30
2. Conventional Morality and Ethical Relativism, 33
The Levels of Moral Development, 34
Subjective and Objective Morality, 37
Descriptive Relativism, 39
Normative Ethical Relativism, 41
Moral Absolutism, 45
Moral Pluralism, 46
Pluralism and American Business, 47
Pluralism and International Business, 48
Approaches to Ethical Theory, 49
Study Questions, 53
3. Utility and Utilitarianism, 55
Utilitarianism, 55
Act and Rule Utilitarianism, 60
Objections to Utilitarianism, 63
Utilitarianism and Justice, 65
Applying Utilitarianism, 67
Utilitarianism and Bribery, 70
Study Questions, 74
4. Moral Duty, Rights, and Justice, 76
Deontological Approaches to Ethics, 77
Judeo-Christian Morality, 78
Reason, Duty, and the Moral Law, 80
Application of the Moral Law, 86
Imperfect Duties, Special Obligations, and Moral Ideals, 89
Rights and Justice, 94
Study Questions, 103
5. Virtue, Moral Responsibility, and Moral Reasoning, 105
Virtue, 106
Moral Responsibility, 111
Excusing Conditions, 113
Liability and Accountability, 117
Agent and Role Moral Responsibility, 119
Applying Moral Reasoning, 121
Study Questions, 126
Moral Issues in Business, 127
6. Justice and Economic Systems, 129
Moral Evaluation of Economic Systems, 130
Moral Evaluation of Contemporary Systems, 134
Economic Models and Games, 136
A Capitalist Model, 137
Capitalism and Government, 142
A Socialist Model, 146
Comparison of Models and Systems, 148
Economic Systems and Justice, 149
Study Questions, 151
7. American Capitalism: Moral or Immoral?, 153
The American Economic System, 155
Relation of the American Government to the American Economic System, 157
The Marxist Critique, 161
Non-Marxist Moral Critiques of American Capitalism, 166
The Moral Defense of the American Free-Enterprise System, 169
Non-Socialist Alternatives to Contemporary American Capitalism, 173
Study Questions, 178
8. Corporations and Morality, 180
The Moral Status of Corporations and Formal Organizations, 183
Concept of the Corporation: Shareholder versus Stakeholder, 188
Moral Responsibility Within the Corporation, 191
Morality and the Social Audit, 197
Corporate Codes, 206
Corporate Culture and Moral Firms, 207
Study Questions, 209
9. Corporate Governance, Accounting, Disclosure and Insider Trading, 211
Corporate Governance, 214
Accounting, 219
Corporate Disclosure, 225
Insider Trading, 233
Study Questions, 243
10. Finance, Restructuring, and Investing, 245
Finance and Banking, 247
Corporate Takeovers and Restructuring, 253
Ethical Investing, 265
Study Questions, 273
11. Safety, Risk, and Environmental Protection, 275
Corporations, Products, and Services, 277
Do No Harm, 278
Safety and Acceptable Risk, 279
Product Safety and Corporate Liability, 282
Strict Liability, 284
Production Safety, 286
Environmental Harm, 288
Pollution and Its Control, 290
Study Questions, 296
12. Whistle Blowing, 298
Blowing the Whistle, 299
Kinds of Whistle Blowing, 300
Whistle Blowing as Morally Prohibited, 304
Whistle Blowing as Morally Permitted, 307
Whistle Blowing as Morally Required, 312
Internal Whistle Blowing, 315
Precluding the Need for Whistle Blowing, 319
Study Questions, 321
13. Marketing, Truth, and Advertising, 323
Marketing, 325
Advertising, 336
Truth and Advertising, 338
Manipulation and Coercion, 342
Paternalism and Advertising, 345
Prevention of Advertising, 347
Allocation of Moral Responsibility in Advertising, 348
Study Questions, 351
14. Workers’ Rights: Employment, Wages, and Unions, 353
Employment-at-Will, 355
The Right to Employment, 357
The Right to a Just Wage, 363
Comparable Worth, 369
Executive Compensation, 371
The Right to Organize: Unions, 375
The Right to Strike, 378
Study Questions, 384
15. Workers’ Rights and Duties Within a Firm, 387
The Rights of Employees Within a Firm, 391
Rights in Hiring, Promotion, and Firing, 392
Employee Civil Rights and Equal Treatment, 396
Privacy, Polygraphs, and Drugs, 399
Quality of Work Life, 406
Employee Duties, 410
Worker Loyalty and Obedience, 411
Study Questions, 415
16. Discrimination, Affirmative Action, and Reverse Discrimination, 417
Discrimination, 420
Changing Social Structures, 426
Equal Employment Opportunity, 428
Affirmative Action, 430
Reverse Discrimination, 434
Balanced or Preferential Hiring, 436
Two Cases: Weber and Stotts, 441
Study Questions, 445
17. The Information Age: Property and New Technologies, 447
Intellectual Property, 451
Industrial Espionage, 462
Property: Information and Software, 463
Study Questions, 476
18. Information, Computers, the Internet and Business, 478
Business and Computers, 480
Computer Crime, 480
Computers and Corporate Responsibility, 487
Computers and Privacy, 490
The Changing Nature of Work, 500
Study Questions, 504
Moral Issues in International Business, 506
19. The International Business System, Multinationals, and Globalization, 509
Morality and the International Economic System, 511
Multinational Corporations and Ethics, 514
Ethical Guidelines for Multinational Operations, 521
Multinationals and Human Rights, 523
The Transfer of Dangerous Industries to Underdeveloped Countries, 525
International Codes, 532
The Globalization of Business, 537
American Outsourcing and International Business, 541
Study Questions, 543
20. Corrupt Contexts and International Business, 546
The Case of General Motors and Apartheid, 548
U.S. Multinationals in South Africa, 550
The Lessons of Business in South Africa, 553
Bribery and the Foreign Corrupt Practices Act, 554
International Business in Unsettled Contexts, 556
International Industrial Espionage, Discrimination, and Questionable Products, 562
Operating in Destabilized Environments, 566
Child Labor and Sweatshops, 569
International Business in Different Cultures: Japan, 573
Cross-Cultural Judgments, Negotiation, and International Justice, 574
Study Questions, 578
21. Global Issues and International Obligations, 580
Global Issues, 583
Famine, Malnutrition, and Moral Obligation, 584
Property and Allocation of the World’s Resources, 592
Global Common Goods, 600
Oil and the Depletion of Natural Resources, 601
Study Questions, 608
Conclusion, 611
22. The New Moral Imperative for Business, 613
The Changing Business Mandate, 615
The Role of Government, 620
Corporate Democracy and the New Entrepreneur, 622
Building a Good Society, 624
Study Questions, 626
Index, I-1-1

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