Abstract
The essay aims to show how business ethics—understood as a three-level approach—can strengthen the social cohesion of a society, which is jeopardized today in many ways. In the first part, the purpose of business and the economy is explained as the creation of wealth defined as a combination of private and public wealth that includes natural, economic, human, and social capital. Special emphasis is placed on the implications of the creation of public wealth which requires institutions other than the market and motivations other than self-regarding ones. In the second part, the question of what holds a society together is discussed through different approaches: enlightened self-interest, a new game-theoretical approach, and the concept of the common good advanced by Catholic Social Teaching, followed by my own proposal. The third part presents several perspectives for business ethics to strengthen social cohesion of a society (a) by focusing on the purpose of business and the economy to create natural, economic, human, and social capital; (b) by advancing public goods that stand the test of ethical scrutiny; and (c) by securing human rights conceptualized as public goods.
Highlights
What Holds a Society Together?Having determined more precisely the purpose of business and the economy as the creation of wealth, we focus on the question how the social cohesion of a society can best be conceptualized
The essay aims to show how business ethics— understood as a three-level approach—can strengthen the social cohesion of a society, which is jeopardized today in many ways
Based on the understanding of wealth creation cited above, I offer three ways in which business ethics can strengthen the social cohesion of a society (a) by focusing on the purpose of business and the economy to create natural, economic, human, and social capital; (b) by advancing public goods that stand the test of ethical scrutiny; and (c) by securing human rights conceptualized as public goods
Summary
Having determined more precisely the purpose of business and the economy as the creation of wealth, we focus on the question how the social cohesion of a society can best be conceptualized. Catholic Social Teaching today affirms the totality of human rights as defined above, many Catholics and people outside the Catholic church are not aware of this fact or do not want to note or live up to it Given this concept of the common good, we ask what it implies for our question regarding the social cohesion of a society. The common good defines the conditions under which social groups and their individual members should be able to pursue their life plans They hold for every society from the local to the global level and consist, to a significant extent, of human rights. An interesting perspective for further research is the question how Catholic Social Teaching with its principles of solidarity and subsidiarity can provide valuable guidance for identifying and addressing issues of public goods
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
