On the Private and Public Virtues of an Honorable Entrepreneur

Felix R. Livingston is professor of economics and director of the Honorable Entrepreneurship Program at Flagler College.

• IntroductionPrologue: Playing Chess with Alexis de Tocqueville1.General Rules and the Extended Social Order2.Pursuing Happiness and Wealth in an Extended Social Order3.Virtues and Honor in the Practice of Entrepreneurship4.Justice, Honor, and DutyEpilogue: Creating a Shared Vision of Honorable EntrepreneurshipReferencesIndexAbout the Author

This very interesting short book takes readers from Aristotle to Alexis de Tocqueville to the present day in explaining the important role of honorable entrepreneurs. The problem that has emerged in modern times is crony capitalism, in which powerful interest groups use government to protect vested interests to the detriment of society as a whole. This is not the world of free enterprise and laissez faire, as the author makes clear. Self-interest is an important motivator for entrepreneurs, but so is an awareness that the welfare of others is important for the social order. Adam Smith understood these aspects of human behavior. Three categories of entrepreneurs are found today: those who are ignorant of their impact on the social order, those who understand the impact but ignore it, and those who are unscrupulous and willingly violate the law to achieve their ends. The author argues that honorable entrepreneurs are guided by ethical beliefs, traditions, and aesthetic value judgments. The concluding chapter reflects on how a shared vision of honorable entrepreneurship can help create a better society. A worthwhile read recommended for all.Summing Up: Recommended. Lower-division undergraduates through faculty.