Economics, Governance and Business
Ethics
Week 1 – Overview of Economic Systems and Ethical Frameworks
in Business
Koehn, D. How Would Confucian Virtue Ethics for Business Differ from
Aristotelian Virtue Ethics?. J Bus Ethics 165, 205-219 (2020).
https://doi.org/10.1007/s10551-019-04303-8
This paper explores differences between the vision of Confucius and
Aristoteles on virtue ethics. Both focus on character and moral
development, but they differ in approaches to ethics, the role of the
community, and the application of virtues in business.
Aristotelus virtue ethics:
Essence and purpose every being has an inherent purpose. For
humans, this is achieving ‘eudaimonia’, which is well-being.
Virtue as a mean virtue involves finding a balance between
extremes. For example, courage is the mean between cowardice and
recklessness.
Practical wisdom (phronesis) the ability to make good decisions in
real-life situations, which means nog only doing what’s right in
theory, but actually doing the right thing in the right way at the right
time.
Application in business individuals should strive for making ethical
decisions that lead to personal and organizational well-being. This is
virtue. Leaders should develop personal virtues. A workplace should
focus on individual moral responsiblity. Decisions should promote
individual excellence.
Confucius virtue ethics:
Relational self individuals are relational and are defined by their
roles and responsibilities within the community.
Role of rituals (li) rituals and traditions are essential for moral
development, since they guide individuals to act appropriately within
their social contexts.
Moral cultivation individuals should focus on continuous self-
improvement and learning through intereactions with others.
Application in business individuals should strive for harmonious
relationships, respecting traditions, and prioritize collective well-
being over individual gain. Leaders should focus on great
relationships. The workplace culture should be harmonious.
Decisions should maintain social harmony and fulfill communal roles.
The main difference is that Aristotelus is more individual-focused, while
Confucius focuses on communal harmony. Moral development, the role of
the community and the application in business all are impacted by this
difference in view.
, Tutorial (inclusief voorbereiding)
There exist moral agents and moral subjects. Moral agents are the
individuals that has the ability to choose to be ethical or not, while moral
subjects are the affected subjects. This could be nature, or in the case of
this article, cadavers.
Lecture slides
Because of shortcomings to the capitalism, socialism came up. There are
different types of socialism:
Democratic: an elected administration body manages all production.
A free market system is used to distribute consumer products like
housing, energy and transit.
Revolutionary: only hard work, struggle and a revolution can change
capitalism to socialism. Production is owned and run by workers
through a well-developed and centralised structure that promotes
social equality through.
Market: all production is under control of workers, who decide fort he
allocation and distribution of economic resources. What is in excess
is sold or given to other members of the society, who distribute
these based on a free market system.
Libertarian: based on the assumption that all paople are rational,
autonomous and self-determined. People naturally turn to this
system if capitalism is taken away, since it meets their desire needs.
Green: this type of socialism forcusses on natural resources and
protecting them. Giant corporations are owned, controlled and run
by the public sector. Everyone has equal access to basis necessities
in an environmentally friendly way.
Categorical imperatives: commands you MUST follow, regardless of your
desires.
Hypothetical imperatives: commands you SHOULD follow if you want
something.
Kant, Deontology:
Universalizability principle: act only tot he maxim which you could also do
if it should become universal law. For example: stealing could be
individually beneficial, but not universable.
The formula of humanity: you should treat others as humans, as moral
agents.
Utilitarianism: what generatest he best outcome for the largest amount of
people is morally right. This theory focuses on the results of our actions,
with our intentions being irrelevant. You should act like this (choose the
action producing the greatest good for the greatest number (short-run)),
but we also should rule like this (live by rules that are likely to lead to the
greatest good for the greatest number (long-run)).
Contractarianism = justice theory: which is in accord with everyone’s right
is moral. Contracts prevent chaos which is natural, since by nature,
anyone has limitless freedom. There are more benefits in cooperating than
Ethics
Week 1 – Overview of Economic Systems and Ethical Frameworks
in Business
Koehn, D. How Would Confucian Virtue Ethics for Business Differ from
Aristotelian Virtue Ethics?. J Bus Ethics 165, 205-219 (2020).
https://doi.org/10.1007/s10551-019-04303-8
This paper explores differences between the vision of Confucius and
Aristoteles on virtue ethics. Both focus on character and moral
development, but they differ in approaches to ethics, the role of the
community, and the application of virtues in business.
Aristotelus virtue ethics:
Essence and purpose every being has an inherent purpose. For
humans, this is achieving ‘eudaimonia’, which is well-being.
Virtue as a mean virtue involves finding a balance between
extremes. For example, courage is the mean between cowardice and
recklessness.
Practical wisdom (phronesis) the ability to make good decisions in
real-life situations, which means nog only doing what’s right in
theory, but actually doing the right thing in the right way at the right
time.
Application in business individuals should strive for making ethical
decisions that lead to personal and organizational well-being. This is
virtue. Leaders should develop personal virtues. A workplace should
focus on individual moral responsiblity. Decisions should promote
individual excellence.
Confucius virtue ethics:
Relational self individuals are relational and are defined by their
roles and responsibilities within the community.
Role of rituals (li) rituals and traditions are essential for moral
development, since they guide individuals to act appropriately within
their social contexts.
Moral cultivation individuals should focus on continuous self-
improvement and learning through intereactions with others.
Application in business individuals should strive for harmonious
relationships, respecting traditions, and prioritize collective well-
being over individual gain. Leaders should focus on great
relationships. The workplace culture should be harmonious.
Decisions should maintain social harmony and fulfill communal roles.
The main difference is that Aristotelus is more individual-focused, while
Confucius focuses on communal harmony. Moral development, the role of
the community and the application in business all are impacted by this
difference in view.
, Tutorial (inclusief voorbereiding)
There exist moral agents and moral subjects. Moral agents are the
individuals that has the ability to choose to be ethical or not, while moral
subjects are the affected subjects. This could be nature, or in the case of
this article, cadavers.
Lecture slides
Because of shortcomings to the capitalism, socialism came up. There are
different types of socialism:
Democratic: an elected administration body manages all production.
A free market system is used to distribute consumer products like
housing, energy and transit.
Revolutionary: only hard work, struggle and a revolution can change
capitalism to socialism. Production is owned and run by workers
through a well-developed and centralised structure that promotes
social equality through.
Market: all production is under control of workers, who decide fort he
allocation and distribution of economic resources. What is in excess
is sold or given to other members of the society, who distribute
these based on a free market system.
Libertarian: based on the assumption that all paople are rational,
autonomous and self-determined. People naturally turn to this
system if capitalism is taken away, since it meets their desire needs.
Green: this type of socialism forcusses on natural resources and
protecting them. Giant corporations are owned, controlled and run
by the public sector. Everyone has equal access to basis necessities
in an environmentally friendly way.
Categorical imperatives: commands you MUST follow, regardless of your
desires.
Hypothetical imperatives: commands you SHOULD follow if you want
something.
Kant, Deontology:
Universalizability principle: act only tot he maxim which you could also do
if it should become universal law. For example: stealing could be
individually beneficial, but not universable.
The formula of humanity: you should treat others as humans, as moral
agents.
Utilitarianism: what generatest he best outcome for the largest amount of
people is morally right. This theory focuses on the results of our actions,
with our intentions being irrelevant. You should act like this (choose the
action producing the greatest good for the greatest number (short-run)),
but we also should rule like this (live by rules that are likely to lead to the
greatest good for the greatest number (long-run)).
Contractarianism = justice theory: which is in accord with everyone’s right
is moral. Contracts prevent chaos which is natural, since by nature,
anyone has limitless freedom. There are more benefits in cooperating than
