This book introduces a study of ethics and values to develop a deeper understanding of markets, business, and economic life.
This book introduces a study of ethics and values to develop a deeper understanding of markets, business, and economic life. Its distinctive feature is its thorough integration across personal and institutional perspectives; across applied ethics and political philosophy; and across philosophy, business, and economics.
Part 1 studies markets, property rights, and law, and introduces normative theories with many applications. Part 2 examines the purpose of corporations and their responsibilities. Parts 3 and 4 analyze business and economic life through the ethics and values of welfare and efficiency, liberty, rights, equality, desert, personal character, community, and the common good.
This second edition maintains the strengths of the first edition-short, digestible chapters and engaging writing that explains challenging ideas clearly. The material is user-friendly, with an emphasis on a strong theoretical core. Easily adaptable to the instructor's teaching, the chapters are separable and can be shaped to the interests of the instructor with suggested course outlines and flexible application to case studies. This text is designed both for coursework in business ethics, as well as interdisciplinary programs in philosophy, politics, economics, and law.
This second edition:
revises presentation of eight normative theories, with increased emphasis on linksto business and economic life;
incorporates recent scholarship on shareholder/stakeholder debates about the purpose of corporations, bringing this important topic up to date;
includes a new, streamlined preface that provides a quick overview of the book before smoothly guiding the reader to the first chapter;
uses updated examples and applications;
revamps a useful appendix, including enhancing the popular primer on ethics;
includes Key Terms, Discussion Questions, Biographies, and Lists of Further Readings at the end of each chapter;
includes a new ending chapter on the value of an ethical life.
"An outstanding work! This distinctive and illuminating textbook provides students with a thorough understanding of markets, property rights, and the role and responsibilities of corporations. It shows how the ethics of our business and economic lives are impacted by the values of efficiency and welfare, justice and liberty, desert and rights, as well as community and personal relationships. Steven Scalet does an excellent job of bringing alive sophisticated moral, political, and economic issues in an accessible, student-friendly text, full of pertinent examples and helpful illustrations."
-William H. Shaw, San Jose State University
"Steven Scalet's Markets, Ethics, and Business Ethics, 2nd Editionis an impressive text. Integrating several areas of study (namely, ethics, political philosophy, and economics), its clear prose makes many important but often puzzling ideas from within those areas easily accessible to newcomers. Fair-minded and comprehensive, Markets, Ethics, and Business Ethics, 2nd Editionis an invaluable guide for students who seek moral understanding of the modern economy."
-Craig Duncan, Ithaca College
"Scalet's Markets, Ethics, and Business Ethics,2nd Editionstrikes the right balance in all the right places. The coverage and approach of the book put key concepts in moral theory to work so that students are prepared for ethical problems in business contexts and social and economic life more generally. Perhaps its greatest strength is its integrative nature-the theoretical and practical connections it makes throughout and the connections its asks students to make, and build upon, in their own thinking and in their own lives."
-Terry L. Price, University of Richmond
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