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Business Ethics Philosophers

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Adam Smith

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Pioneer of political economy and the idea that self-interest guides the most efficient use of resources.

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Milton Friedman

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Promoted shareholder theory which posits that a company's primary responsibility is to its shareholders.

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Karl Marx

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Criticized the exploitation of the working class and aimed for a classless society, influencing business ethics debates on labor relations.

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Peter Drucker

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Introduced the concept of 'management by objectives' and emphasized the importance of business ethics and corporate social responsibility.

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John Rawls

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Developed the 'Theory of Justice' which includes the principle that inequalities should benefit the least advantaged members of society.

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Robert Nozick

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Proposed the 'Entitlement Theory' which contends that individuals are entitled to their holdings as long as they have been acquired fairly.

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Immanuel Kant

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Argued for the 'Categorical Imperative', which states that individuals must act according to principles that could be universally applied.

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Aristotle

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His virtue ethics emphasized achieving virtue through moderation and the concept of attaining the 'golden mean'.

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John Stuart Mill

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Developed Utilitarianism which proposes that the ethical decision is the one that provides the greatest good for the greatest number.

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Jeremy Bentham

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Founder of modern Utilitarianism, believed in assessing business actions based on the maximization of overall happiness.

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Thomas Aquinas

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Combined Christian theology with Aristotelian philosophy, supporting the notion that business should be conducted ethically as a part of God's plan.

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Carol Gilligan

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Introduced the 'Ethic of Care' which emphasizes the importance of relationships in moral reasoning, impacting views on corporate responsibility.

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R. Edward Freeman

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Proposed Stakeholder Theory, which suggests that all stakeholders have a vested interest in the financial and ethical performance of a corporation.

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Alasdair MacIntyre

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Critic of modern moral philosophy and has argued for virtue ethics based on community and tradition.

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Michael Sandel

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Critic of liberal individualism and market reasoning in ethical decisions, emphasizing the role of community and the moral limits of markets.

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