The transactional ethic: The ethical foundations of free enterprise reconsidered
Jeffrey A. Barach, John B. Elstrott
Journal of Business Ethics · 1988 · Volume 7 · Issue 7
Abstract
A review of the evolution of the ethical foundations of free enterprise reveals the essentially utilitarian ethical foundation prevailing today. To enrich those foundations the article attempts to establish the ethical validity of free transactions by relating them to the basic principle of interpersonal ethics: the Golden Rule. The validity of the transactional ethic is presented as an articulation of freedom in a valid social and economic context.
Keywords
Economic Growth, Basic Principle, Golden Rule, Economic Context, Ethical Foundation
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