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The Applicability of Political Philosophy for Business Ethics Development

  • PHILOSOPHY·THOUGHT·CULTURE
  • 2020, (34), pp.264~297
  • DOI : 10.33639/ptc.2020..34.011
  • Publisher : Research Institute for East-West Thought
  • Research Area : Humanities > Other Humanities
  • Received : October 24, 2020
  • Accepted : November 29, 2020
  • Published : November 30, 2020

WOONHYUK JANG 1

1동국대학교

Accredited

ABSTRACT

Business ethics tends to be regarded as a strategic method in business. In the field of ethics, it depends upon the justification of the theory on traditional normative ethics. However, this has resulted in questioning the independent status of business ethics. Hereupon, by using both the social contract theory and Rawls’ theory, I would like to seek an alternative that political philosophy can produce the normative justification of business ethics. However, in order for political philosophy to provide normative justification for business ethics, it should have a reasonable argument that political philosophy considering the state and its citizens can also be applied to corporations. Since the difference between a corporation and a state does not show a profound difference in quality, it‘s only a difference in degree, it should be a priority to support the justification of an attempt to apply political philosophy to business ethics. For this, I reinterpret the arguments of those who claim political philosophy cannot be applied to business ethics, and I argue the reverse by examining the reasons provided in their arguments. That is, it will be shown through the concepts of 'cooperation and distribution' and 'contracts and obligations' that the role of Rawls' 'Basic structure of Society' is not very different from that of corporations in the modern industrial society. In addition, the concept of 'social contract' of political philosophy can be applied to business ethics. This is because if the legitimacy, limits, and duties of state power are provided through social contracts, fiduciary duties and reasonable distribution are also given to the stakeholders of the corporations by contract. Lastly, I conclude this argument by looking at how to ensure the practical application and fairness of social contracts in a corporation and how to solve the conflict between profit and ethics.

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This paper was written with support from the National Research Foundation of Korea.