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Accountable To Whom? Rethinking The Role Of Corporations In Political Csr, Jeffrey Moriarty, Waheed Hussain
Accountable To Whom? Rethinking The Role Of Corporations In Political Csr, Jeffrey Moriarty, Waheed Hussain
Philosophy Faculty Publications
According to Palazzo and Scherer, the changing role of business corporations in society requires that we take new measures to integrate these organizations into society-wide processes of democratic governance. We argue that their model of integration has a fundamental problem. Instead of treating business corporations as agents that must be held accountable to the democratic reasoning of affected parties, it treats corporations as agents who can hold others accountable. In our terminology, it treats business corporations as “supervising authorities” rather than “functionaries.” The result is that Palazzo and Scherer’s model does not actually address the democratic deficit that it is …
Risky Pay And The Financial Crisis: Who's Responsible?, Jeffrey Moriarty
Risky Pay And The Financial Crisis: Who's Responsible?, Jeffrey Moriarty
Philosophy Faculty Publications
According to an existing “environmental” narrative, the financial crisis of 2007-2009 was due in part to executive compensation packages in the financial services industry that incentivized excessive risk-taking. Also according to this narrative, those who have a duty to protect society – principally, government regulators, but also firms themselves – are open to blame for how executives were paid, and must take steps to change executive compensation. This narrative is important but incomplete. I offer a supplementary “agential” narrative. According to this narrative, executives are open to blame for the financial crisis for taking socially excessive risks. Moreover, since executives …
Against Pay Secrecy, Jeffrey Moriarty
Against Pay Secrecy, Jeffrey Moriarty
Philosophy Faculty Publications
Many firms keep pay secret. They do not make information about what their employees are paid available inside or outside of the firm, i.e., to other employees or to the public at large. Indeed, many firms discourage their employees from, or sanction them for, disclosing their pay. Against this, I argue that there are good moral reasons for firms to be transparent about pay. Pay transparency prevents injustice, promotes autonomy, and increases efficiency. After presenting the positive case for pay transparency, I defend it against objections, including the most common reasons firms give for keeping pay secret.