Business and Liberty: An Ethical Union

Abstract

Let me offer just a few words about the relationship between morality and ethics. The two terms are often used interchangeably but there is a subtle, not unimportant difference in what they mean.

“Morality” refers to a system of interpersonal guidelines of human conduct, of how people ought to treat each other, what are their duties and obligations to each other. “Ethics” refer to a system of personal guidelines for adult human beings, answering the question “How ought I to act or conduct myself?” Ethics is more basic and comprehensive.

There are some interesting philosophical reasons for using these different terms and they have some substantive importance. With the emergence of morality in the modern era, in the works of such philosophers as Thomas Hobbes, there had been an understanding that concerning personal, private behavior, human beings will do what they are innately motivated to do, by their passions, drives, or instincts, so there is no reason to wonder how they ought to act because they will act as they must so as to fulfill these passions or instincts. Putting it another way, the virtue of prudence was relegated to an innate drive instead of being treated as a moral character trait in the modern philosophical era. What emerged in its stead was the profit motive.

Yet, when it comes to fields such as professional, including business, ethics, the issue is precisely how one ought to conduct oneself not only vis-à-vis others but in relation to one’s professional commitments. It is this topic that the rest of this chapter addresses.