Document Type

Article

Language

eng

Publication Date

11-2015

Publisher

Springer

Source Publication

Philosophy of Management

Source ISSN

1740-3812

Abstract

In this paper we will analyze the relationship between free market principles and ethics through an exploration of how too many business managers often approach the ideas of Adam Smith and Milton Friedman. In doing so, we aim to provide a thoughtful foundation for future discussions of how we ought to navigate this intersection. We briefly examine questions such as: What is the relationship between the “best” economy in terms of efficiency and the common good for society? Is pursuing one’s individual economic advantage the same as promoting the general interest? As we analyze and discuss these questions, specifically in the context of Smith and Friedman, we also make some alternative normative assertions, grounded in social welfare, about adopting a broader societal perspective for the purpose of business.

Comments

Accepted version. Philosophy of Management, Vol. 14, No. 3 (November 2015): 179-191. DOI. © 2015 Springer International Publishing AG. Part of Springer Nature. Used with permission.

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