Ethical Business for the 21st Century

Contemporary capitalism is broken: it makes the rich richer and the poor poorer. But can business enterprise be reimagined as a solution, rather than a cause, of inequality?With the rise of not-for-profits and purpose-driven organizations around the world, this book offers a bold reimagining of what business can—and should—be. Timely and urgent, it presents a new perspective on business practice grounded in three ethical principles: stakeholder theory, the capabilities approach, and moral markets. Taken together, this model of stakeholder capitalism prioritizes long-term value creation by serving the interests of all parties including employees, customers, communities, suppliers, and the environment.With dedicated chapters on each principle, placed in dialogue with the author’s research in applied ethics, the book highlights the fundamental importance of considering such ethical dilemmas as corporate greed, fair pay, and climate responsibility in contemporary leadership. It includes contemporary case-studies taken from the worlds of business, economics, and social justice leadership, as well as consideration of recent threats posed by monopolies on data, artificial intelligence, and geopolitical fragmentation. Accessible and cross-disciplinary, Ethical Business for the 21st Century provides a timely and practical roadmap for building a more humane, inclusive, and sustainable economy — making it essential reading for business leaders, policymakers, students, and anyone interested in the future of business and capitalism.