This book reconstructs major paradigms in the history of economic ethics up to, and including, the present day. Asserting that ethics should be integral rather than marginal to economics and management education, Reframing Economic Ethics highlights the need for a paradigm change from mechanistic to humanistic management, and argues that the failures of markets and managers in recent years were paved by a misguided management education. The author shows how the reader can and must learn from the history of economic thinking in order to overcome the theoretical shortcomings and the practical failings of the present system.
This book demonstrates how principles of a Humanistic Management paradigm are practiced in a variety of industries and regions by businesses of different ownership structures and sizes.What unites these businesses is their commitment to the three stepped approach of Humanistic Management, which is grounded in unconditional respect for the dignity of life, the integration of ethics in management decisions, and active engagement with stakeholders.These businesses are not labeled social enterprises, but operate within the mainstream of competitive markets. However, they do have a deep sense of responsibility towards the communities in which they operate and act accordingly, knowing that sustaining business success over time depends on a value proposition to society at large. The cases featured in this book serve to clarify that businesses can thrive not despite but because they are upholding principles of Humanistic Management. It will be valuable reading for academics working in the field of business ethics, sustainability and corporate social responsibility.
