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An appropriate ethical model for business and a critique of ...

Source: www.mises.org
Topic: Business Ethics

Sort Desciption: and still taught in business ethics is that pollution is an inevitable ..... The responsibility for this business ethic is shifted to agents of the ...

Content Inside: An appropriate ethical model for business and a critique of Milton Friedman 1 Richard W. Wilcke College of Business and Public Administration University of Louisville Louisville Kentucky Austrian Scholars Conference 5 Ludwig von Mises Institute Auburn University Auburn Alabama April 16-17 1999 Abstract A noble and appropriate ethical standard for every type of business enterprise regardless of legal form is a commitment to compete for the voluntary patronage of consumers in the free market to refrain from seeking special privileges from government and to stand up for private property and a competitive open economy. This model is a corollary to recognition of the historical role of business interests as a key contributor to the expansion of economic regulation. The discipline known as business ethics is driven by the social agenda of political interests that are essentially antithetical to profit-seeking. For four decades Milton Friedman has been the worlds most prominent spokesman for free-market economic policies yet his writings on social responsibility have provided the business-ethics community a convenient straw man by which to reveal what it considers to be the irrelevance of economics and the shortcomings of the corporate structure. They have also led Friedman to appear to condone the pursuit of special privilege by business thereby retarding widespread acceptance of a free-market ethical standard. Thanks to Audrey Davidson Steve Gohmann and Matt Keck for their helpful comments and suggestions. 1 Friedmans intellect status as a Nobel laureate and courageous promotion of a free society are legendary which while giving a dilettante like me pause to criticize him assures that his standing will remain secure. 1 Introduction In 1970 when interest in the ethics of business was increasing to a point that would soon cause evolution of a whole new discipline a controversial essay on corporate responsibility was published in the New York Times Magazine 2 . ...

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