Markets, Ethics, and Business Ethics

This book introduces a study of ethics and values to develop a deeper understanding of markets, business, and economic life. Its distinctive features include a thorough integration of personal and institutional perspectives; applied ethics and political philosophy; and philosophy, business, and economics.

Thisbookintroducesastudyofethicsandvaluestodevelopadeeperunderstandingof markets,business,andeconomiclife.Itsdistinctivefeaturesincludeathoroughintegrationof personaland institutionalperspectives;appliedethicsandpoliticalphilosophy;andphilosophy, business, and economics.Part1introduces a study ofmarkets,propertyrights,andlaw.Part2examinesthepurpose and responsibilitiesofcorporations.Parts3and4 analyze economic life through the ethics and values of welfare and efficiency, liberty, rights, equality, desert, personal character, community, and the common good.ThisThirdEditionmaintainsthestrengthsofprevious editions—short,digestiblechapters and engaging writing that explains challenging ideas clearly. The material is easily adaptable with suggested course outlines, separable chapters, and flexible applications to case studies. This book is designed for interdisciplinary programs in philosophy, politics, and economics (PPE), as well as courses in business ethics.Updates to theThird Editioninclude the:addition of a new Introductory chapter on the value of an ethical lifecoverage of developments in AI, including copyrights and patent implications, social media companies and CSR, ethical differences between AI and human personality, and impacts on meaningful workintegration ofrecentscholarship, bringing discussions and references up to dateimprovement of the writing across all chapters, making the book easier to readaddition of new material on the is-ought gap in Chapter 1 with revised discussion of personal and institutional points of viewediting and repositioning of consequentialist and deontological ethics in Chapter 3revision of appendix for Instructors that includesdifferent syllabi possibilities for different types of courses and brief teaching tips relevant for each chapterThe eBook of the Third Edition now includes hyperlinks (1) between when a term is first used in the main text and its definition in the Glossary and (2) between germane sections when they are cross-referenced.Steven Scaletis Professor of Philosophy and Director of the Hoffberger Center for Ethical Engagement at the University of Baltimore, USA. Prior to Baltimore, Scalet was the Director of the Program in Philosophy, Politics, and Law at Binghamton University (SUNY), USA, where he received the Chancellor’s Award for Excellence in Teaching. Scalet received his PhD in Philosophy and MA in Economics from the University of Arizona, USA. Scalet is the author of many articles and the editor ofMorality and Moral Controversies: Readings in Moral, Social, and Political Philosophy, 10th Edition (Routledge, 2019).Designed cover image: Gary Yeowell / Getty Images