By Steven B. Young
Moral Capitalism; Reconciling Private Interest with the Public Good is based on the Caux Round Table (CRT) Principles for Business, a code of ethics that sets consistent and attainable worldwide guidelines for how business can behave responsibly and ethically. The book shows readers how to manage market capitalism and globalization for economic and social justice and fairness, in the process improving individual lives and communities. Author Stephen Young argues that 'brute capitalism' - profit-seeking regardless of effects - must give way to moral capitalism to attain widespread monetary and moral well-being. Emphasizing a cross-cultural perspective that draws on Chinese and Japanese philosophies of selflessness, Young links moral aspirations to practical, day-to-day guidelines for a profitable approach to business that is also ethical, resulting in the public good.
"The author affirms that the term 'moral capitalism' signifies something possible and real. He holds that capitalism springs from natural instincts to own and control property. When businesses act using concepts similar to the notion of enlightened self-interest, capitalism can be moral. This is a middle way, one that avoids extremes of both economic Darwinism (think Enron), and socialism and its variants."
Stephen B. Young on Moral Capitalism
Table of contents
- Is Moral Capitalism Possible?
- The Many Varieties of Capitalism
- Brute Capitalism: Survival of the Fittest
- Moral Capitalism: Using Private Interest for the Public Good
- Moral Capitalism and Poverty: Must the Poor Be With Us Always?
- The Caux Round Table: Advocate for Moral Capitalism
- Customers: The Moral Compass for Capitalism
- Employees: Parts for a Machine or Moral Agents?
- Owners and Investors: Exploiters or Potential Victims?
- Suppliers: Friends or Foes?
- Competitors: Repealing the Law of the Jungle
- Community: Enhancing Social Capital
- Principled Business Leadership: Stepping up to the Challenge of Moral Capitalism
About Stephen B. Young
Stephen B. Young is the Global Executive Director of the Caux Round Table, an international network of experienced business leaders who advocate a principled approach to global capitalism. Young was born in 1945. He was educated at the International School Bangkok, Harvard College and Harvard Law School. He came to Minnesota in 1981 to be the dean of the Hamline University School of Law. Previously, he had been an Assistant Dean at Harvard Law School. He has also taught at the University of Minnesota Law School, Vietnamese history for the College of Liberal Arts, University of Minnesota and Public Office as a Public Trust for Minnesota State University - Mankato. He has published articles on Chinese jurisprudence, the culture and politics of Vietnam and Thailand, legal education, law firm management, Native American law, the history of negligence, and the law of war.