A critical evaluation of Etzioni's socioeconomic theory: Implications for the field of business ethics
Journal of Business Ethics · 1992 · Volume 11 · Issue 7
Abstract
Given the pervasive influence of neoclassical economic theory on the field of business, the opposition of the standard economists to the inclusion of moral factors in economic decisions provides an intellectual resistance to the ideas of many business ethicists. Etzioni (1988) offers a theoretical alternative to the neoclassical model, an alternative that includes a moral dimension. This article: (1) highlights the differences between Etzioni's proposed model and the neoclassical economic paradigm; (2) describes and critically evaluates Etzioni's proposed theory in view of his objective of synthesizing the neoclassical paradigm with a duty-based morality; and (3) discusses the implications of Etzioni's proposed paradigm for the field of business ethics.
Keywords
Economic Growth, Business Ethic, Economic Theory, Critical Evaluation, Moral Dimension
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