In his talk about ethical business, Alexander Wagner discusses what motivates companies to remain honest. The economist states that one in seven large public companies commit fraud in the United States. However, this also means that the remaining six are honest businesses.
The talk about ethical business describes two visions of behaviour as outlined by philosophers. First, there is self-interest as defined by Adam Smith. This involves considering consequences and weighing benefits and costs. This sort of behaviour is evidenced by company codes of conduct and incentives. It also states that reputation is a powerful economic force. On the other hand, Emmanuel Kant maintains notions of morality, where some things are right and some are wrong. This perspective sees behavior as being motivated by values.
Philosophical Business Perspectives
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