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The Ethical Lacunae In Friedman's Concept Of The Manager, Jonathan B. Wight, Martin Calkins
The Ethical Lacunae In Friedman's Concept Of The Manager, Jonathan B. Wight, Martin Calkins
Economics Faculty Publications
This article challenges along two lines Milton Friedman's injunction that the sole role of the business manager is to maximize profits for shareholders using all legal and ethical means. First, it shows how Friedman overly narrows the manager's moral duties to consequentialist profit maximization and thereby fails to account for a wide range of values and virtues necessary for good management. Second, it illustrates how more oblique approaches to management as well as Adam Smith's virtue-based model better capture the moral imagination and relational aspects of leadership that are critical to good management today. In the end, this article suggests …
[Introduction To] The Street Porter And The Philosopher : Conversations On Analytical Egalitarianism, Sandra J. Peart, David M. Levy
[Introduction To] The Street Porter And The Philosopher : Conversations On Analytical Egalitarianism, Sandra J. Peart, David M. Levy
Bookshelf
Adam Smith, asserting the common humanity of the street porter and the philosopher, articulated the classical economists' model of social interactions as exchanges among equals. This model had largely fallen out of favor until, recently, a number of scholars in the avant-garde of economic thought rediscovered it and rechristened it "analytical egalitarianism." In this volume, Sandra J. Peart and David M. Levy bring together an impressive array of authors to explore the ramifications of this analytical ideal and to discuss the ways in which an egalitarian theory of individuality can enable economists to reconcile ideas from opposite ends of the …
Adam Smith, Collusion And “Right” At The Supreme Court, David M. Levy, Sandra J. Peart
Adam Smith, Collusion And “Right” At The Supreme Court, David M. Levy, Sandra J. Peart
Jepson School of Leadership Studies articles, book chapters and other publications
Adam Smith’s views on collusion were injected into the Supreme Court’s ruling in Bell Atlantic v. Twombly as Justice Stevens puzzled over why a collusive action might be viewed as “right.” Motivation by a desire for approbation provides Smith’s explanation for the existence of well- functioning groups. “Right” action is approved by the group. The question is what happens when the groups are in conflict. For Smith, collusion is one instance of the larger problem of faction in which a small group organizes to exploit the larger society.