Advertisement

Journal of Business Ethics

, Volume 155, Issue 1, pp 191–205 | Cite as

From Homo-economicus to Homo-virtus: A System-Theoretic Model for Raising Moral Self-Awareness

  • Julian FriedlandEmail author
  • Benjamin M. Cole
Original Paper

Abstract

There is growing concern that a global economic system fueled predominately by financial incentives may not maximize human flourishing and social welfare externalities. If so, this presents a challenge of how to get economic actors to adopt a more virtuous motivational mindset. Relying on historical, psychological, and philosophical research, we show how such a mindset can be instilled. First, we demonstrate that historically, financial self-interest has never in fact been the only guiding motive behind free markets, but that markets themselves are representations of our individual and collective moral identities. Building on this understanding, we review the research on how economic incentives crowd out virtue-oriented concerns. We then introduce the concept of moral self-awareness (MSA), an evolving mindset informed by reflection on moral identity, namely what one’s actions say about oneself given the impacts (positive or negative) on others or society that one’s action may effect. MSA comprises three fundamental aspects of virtue-oriented reasoning: pride, shame, and guilt. Finally, we offer a four-stage model anchored in systems theory, yielding ever more refined motivating strategies for maximizing human flourishing and social welfare externalities.

Keywords

Capitalism Economic incentives Moral self-awareness Moral motivation Moral progress Ethical decision making Moral priding Moral shaming Positive externalities Negative externalities 

Notes

Compliance with Ethical Standards

Conflict of interest

Julian Friedland and Benjamin M. Cole declare that neither has any conflicts of interest.

Human Participants or Animals

This article does not contain any studies with human participants or animals performed by any of the authors.

References

  1. Anderson, R. C. (1998). Mid-course correction: Toward a sustainable enterprise: The interface model. Atlanta: The Peregrinzilla Press.Google Scholar
  2. Andrade, J. (2015). Reconceptualizing whistleblowing in a complex world. Journal of Business Ethics, 128(2), 321–335.Google Scholar
  3. Aquino, K., & Reed, A., II. (2002). The self-importance of moral identity. Journal of Personality and Social Psychology, 83(6), 1423–1440.Google Scholar
  4. Aristotle. (2011). Aristotle’s Nicomachean ethics. Chicago, IL: University of Chicago Press.Google Scholar
  5. Arrow, K. (1971). The theory of discrimination. Presented at Conference on ‘Discrimination in Labor Markets,’ Industrial Relations Section, Woodrow Wilson School & Conference Office of Princeton University, Oct 7–8.Google Scholar
  6. Atiq, E. H. (2014). Why motives matter: Reframing the crowding out effect of legal incentives. Yale Law Journal, 123, 1070–1116.Google Scholar
  7. Babkiak, P., Neumann, C. S., & Hare, R. D. (2010). Corporate psychopathy: Taking the walk. Behavioral Sciences & the Law, 28(2), 174–193.Google Scholar
  8. Baker, W. E. (1984). The social structure of a national securities market. American Journal of Sociology, 89, 775–811.Google Scholar
  9. Barton, D. (2011). Capitalism for the long term. Harvard Business Review, 89(3), 84–91.Google Scholar
  10. Batson, C. D. (1995). Prosocial motivation: Why do we help others? In A. Tesser (Ed.), Advanced social psychology (pp. 332–381). Boston, MA: McGraw-Hill.Google Scholar
  11. Bentham, J. (1780). An introduction to the principles of morals and legislation. New York: Dover.Google Scholar
  12. Brennan, G., & Pettit, P. (2006) The economy of esteem: An essay on civil and political society. Oxford University Press.Google Scholar
  13. Boddy, C. R. (2011). The corporate psychopaths theory of the global financial crisis. Journal of Business Ethics, 102(2), 255–259.Google Scholar
  14. Bogus, C. T. (1998). The hidden history of the Second Amendment. University of California at Davis Law Review, 31, 309–407.Google Scholar
  15. Bosse, D. A., Phillips, R. A., & Harrison, J. S. (2009). Stakeholders, reciprocity, and firm performance. Strategic Management Journal, 30, 447–456.Google Scholar
  16. Bowles, S. (2011). Machiavelli’s mistake: Why good laws are no substitute for good citizens. Working Paper Series, Sante Fe Institute.Google Scholar
  17. Brookes, G., & Barfoot, P. (2009). Global impact of biotech crops: Income and production effects. The Journal of Agrobiotechnology Management & Economics, 12(2), 184–208.Google Scholar
  18. Brown, S. (2013). Gap narrows in GMO label vote. Capital Press November 13. Salem, OR: Capital Press. Accessed Nov 14, 2013, from http://www.capitalpress.com/article/20131113/ARTICLE/131119956/131111318.
  19. Buller, P. F., & McEvoy, G. M. (2016). A model for implementing a sustainability strategy through HRM practices. Business and Society Review, 121(4), 465–495.Google Scholar
  20. BusinessWeek. (2009). $10.2 trillion: Estimated cumulative stock losses for American households since the end of 2007 with the Dow Jones Wilshire 5000 Composite Index down by nearly 50% (Vol. 13). New York: The McGraw-Hill Companies.Google Scholar
  21. Chandler, D. (2011). Organizations and ethics: Field-level versus firm-level sources of adoption and implementation. In Academy of management conference, San Antonio, TX.Google Scholar
  22. Chang, H.-J. (2008). Bad Samaritans: The myth of free trade and the secret history of capitalism. New York: Bloombury Press.Google Scholar
  23. Cialdini, R. B., Kallgren, C. A., & Reno, R. R. (1991). A focus theory of normative conduct: A theoretical refinement and reevaluation of the role of norms in human behavior. Advances in Experimental Social Psychology, 24, 201–234.Google Scholar
  24. Coase. (1937). The nature of the firm. Economica, 4(16), 386–405.Google Scholar
  25. Cohen, T. R., & Morse, L. (2014). Moral character: What it is and what it does. Research in Organizational Behavior, 34, 43–61.Google Scholar
  26. Combs, M. B. (2005). “A measure of legal independence”: The 1870 Married Women’s Property Act and the portfolio allocations of British wives. Journal of Economic History, 65(4), 1028–1057.Google Scholar
  27. Combs, D. J. Y., Campbell, G., Jackson, M., & Smith, R. H. (2010). Exploring the consequences of humiliating the moral transgressor. Basic and Applied Social Psychology, 32, 128–143.Google Scholar
  28. Congress. (2010). The Patient Protection and Affordable Care Act, 111th Congress, Public Law No: 111–148, March 23. https://www.congress.gov/111/plaws/publ148/PLAW-111publ148.pdf.
  29. Conway, E. (2008). ‘Ninja’ loans explode on sub-prime frontline. The Telegraph March 3. London: Telegraph Media Group Limited. Accessed Nov 8, 2013, from http://www.telegraph.co.uk/finance/economics/2785403/Ninja-loans-explode-on-sub-prime-frontline.html.
  30. Côté, S., Piff, P. K., & Willer, R. (2012). For whom do the ends justify the means? Social class and utilitarian moral judgment. Journal of Personality and Social Psychology, 104(3), 490–503.Google Scholar
  31. Cropanzano, R., Goldman, B., & Folger, R. (2003). Deontic justice: The role of moral principles in workplace fairness. Journal of Organizational Behavior, 24, 1019–1024.Google Scholar
  32. David, P. A. (1985). Clio and the economics of QWERTY. American Economic Review, 75(2), 332–337.Google Scholar
  33. Dessy, S., & Pallage, S. (2004). A theory of the worst forms of child labour. Economic Journal, 115(500), 68–87.Google Scholar
  34. Diamond, J. (2006). Collapse: How societies choose to fail or succeed. New York: Penguin Press.Google Scholar
  35. Dunlap, R. E., Rosa, E. A., Baxter, R., & Mitchell, R. (1993). Attitudes toward siting a high-level nuclear waste repository at Hanford, Washington. In R. E. Dunlap, M. E. Kraft, & E. A. Rosa (Eds.), Public reactions to nuclear waste. Durham, NC: Duke University Press.Google Scholar
  36. Falk, A., & Szech, N. (2013). Morals and markets. Science, 340(May), 707–711.Google Scholar
  37. Forrester, J. W. (1958). Industrial dynamics: A major breakthrough for decision makers. Harvard Business Review, 36(4), 37–66.Google Scholar
  38. Fowler, C., & Mooney, P. (1996). Shattering: Food, politics, and the loss of genetic diversity. Tucson, AZ: University of Arizona Press.Google Scholar
  39. Frey, B. S. (1997). A constitution for knaves crowds out civic virtues. The Economic Journal, 107(443), 1043–1053.Google Scholar
  40. Frey, B. S., & Jegen, R. (2001). Motivation crowding theory. Journal of Economic Surveys, 15(5), 589–611.Google Scholar
  41. Friedland, J., & Cole, B. M. (2013). Expanding the motivations for altruism: A philosophical perspective. Journal of Organizational Behavior, 34(8), 1202–1206.Google Scholar
  42. Friedman, M. (1970). The social responsibility of business is to increase its profits. New York Times Magazine, September 13. New York: The New York Times Company.Google Scholar
  43. Gerber, A. S., Green, D. P., & Larimer, C. W. (2008). Social pressure and voter turnout: Evidence from a large-scale field experiment. American Political Science Review, 102(1), 33–48.Google Scholar
  44. Giacalone, J. (2001). Analyzing an emerging industry: Viatical transactions and the secondary market for life insurance policies. Southern Business Review, 27(1), 1–7.Google Scholar
  45. Giacalone, R. A., & Thompson, K. R. (2006). Business ethics and social responsibility education: Shifting the worldview. Academy of Management Learning & Education, 5(3), 266–277.Google Scholar
  46. Gino, F., & Pierce, L. (2009). The abundance effect: Unethical behavior in the presence of wealth. Organizational Behavior and Human Decision Processes, 109(2), 142–155.Google Scholar
  47. Girion, L. (2009). Blue cross praised employees who dropped policyholders, lawmaker says. Los Angeles Times June 17. Los Angeles: Los Angeles Times Media Group.Google Scholar
  48. Gneezy, U., & Rustichini, A. (2000). A fine is a price. Journal of Legal Studies, XXIX, 1–17.Google Scholar
  49. Golpadas, A. (2014). Marketplace sentiments. Journal of Consumer Research, 41(4), 995–1014.Google Scholar
  50. Granovetter, M. (1985). Economic action and social structure: The problem of embeddedness. American Journal of Sociology, 91(3), 481–510.Google Scholar
  51. Griffin, J. M., & Tang, D. Y. (2011). Did subjectivity play a role in CDO credit ratings? Journal of Finance, 67(4), 1293–1328.Google Scholar
  52. Hallin, D. C. (1989). The uncensored war: The media and Vietnam. London: University of California Press.Google Scholar
  53. Hardin, G. (1968). The tragedy of the commons. Science, 162(3859), 1243–1248.Google Scholar
  54. Hayek, F. A. (1945). The use of knowledge in society. American Economic Review, 35(4), 519–530.Google Scholar
  55. Jackman, S. (2001). Voting: Compulsory. In N. J. Smelser & P. B. Baltes (Eds.), International encyclopedia of the social & behavioral sciences (pp. 16314–16318). Amsterdam: Elsevier.Google Scholar
  56. Johnston, K. (2013). The messy link between slave owners and modern management. Forbes January 16. Jersey City, NJ: Forbes Media LLC. Accessed Oct 10, 2013, from http://www.forbes.com/sites/hbsworkingknowledge/2013/2001/2016/the-messy-link-between-slave-owners-and-modern-management/.
  57. Jones, T., & Felps, W. (2013). Stakeholder happiness enhancement: A neo-utilitarian objective for the modern corporation. Business Ethics Quarterly, 23, 349–379.Google Scholar
  58. Kahan, D. M. (2006). What’s really wrong with shaming sanctions. Faculty Scholarship Series, Yale Law School Paper 102.Google Scholar
  59. Kahan, D. M., & Posner, E. A. (1999). Shaming white-collar criminals: A proposal for reform of the Federal Sentencing Guidelines. Journal of Law and Economics, 42(S1), 365–392.Google Scholar
  60. Kasser, T., Cohn, S., Kanner, A. D., & Ryan, R. M. (2007). Some costs of American corporate capitalism: A psychological exploration of value and goal conflicts. Psychological Inquiry, 18, 1–22.Google Scholar
  61. Kelley, H. H., & Michela, J. L. (1980). Attribution theory and research. Annual Review of Psychology, 31, 457–501.Google Scholar
  62. Kelling, G. L., & Wilson, J. Q. (1982). Broken windows: The police and neighborhood safety. The Atlantic March 1, Accessed Nov 5, 2013, from http://www.theatlantic.com/magazine/archive/1982/2003/broken-windows/304465/.
  63. King, B., & Soule, S. A. (2007). Social movements as extra-institutional entrepreneurs: The effect of protests on stock price returns. Administrative Science Quarterly, 52, 413–442.Google Scholar
  64. Kinnick, K. N., Krugman, D. M., & Cameron, G. T. (1996). Compassion fatigue: Communication and burnout towards social problems. Journalism and Mass Communications Quarterly, 73(3), 687–707.Google Scholar
  65. Klein, N. (2007). The shock doctrine. New York: Metropolitan Books.Google Scholar
  66. Knight, M. (2013). Western black rhino declared extinct. CNN November 6, Accessed Nov 6, 2013, from http://www.cnn.com/2011/2011/2010/world/africa/rhino-extinct-species-report/index.html.
  67. Kohlberg, L. (1984). The psychology of moral development (Vol. 2). New York: Harper & Row.Google Scholar
  68. Koppelman, A. (2010). Forced labor, revisted: The Thirteenth Amendment and abortion. Northwestern University School of Law Scholarly Commons, Faculty Working Papers Paper 32.Google Scholar
  69. Kraus, M. W., Cote, S., & Keltner, D. (2010). Social class, contextualism and empathic accuracy. Psychological Science, 21, 1716–1723.Google Scholar
  70. Kunreuther, H., & Easterling, D. (1996). The role of compensation in siting hazardous facilities. Journal of Policy Analysis and Management, 15(4), 601–622.Google Scholar
  71. Lawrence, P. R., & Nohria, N. (2002). Driven: How human nature shapes our choices. San Francisco: Jossey-Bass.Google Scholar
  72. Lazerson, M. (1995). A new phoenix? Modern putting-out in the Modena knitwear industry. Administrative Science Quarterly, 40, 34–59.Google Scholar
  73. Lenox, M. J., & Eesley, C. E. (2009). Private environmental activism and the selection and response of firm targets. Journal of Economics & Strategy, 18(1), 45–73.Google Scholar
  74. Levine, M. E., & Forrence, J. L. (1990). Regulatory capture, public interest, and the public agenda: Toward a synthesis. Journal of Law Economics and Organization, 6, 167–198.Google Scholar
  75. Martin, S. L. (2003–2004). Corporate-owned life insurance: Another financial scheme that takes advantage of employees and shareholders. University of Miami Law Review, 58, 653.Google Scholar
  76. Mellström, C., & Johannesson, M. (2010). Crowding out in blood donation: Was Titmuss right? Journal of the European Economic Association, 6(4), 845–863.Google Scholar
  77. Mickels, A. (2009). Beyond corporate social responsibility: Reconciling the ideals of a for-benefit corporation with director fiduciary duties in the U.S. and Europe. Hastings International & Comparative Law Review, 32, 271.Google Scholar
  78. Na, J. (2011). Thousands camp out for job fair as jobless rate rises. ABC World News August 18. New York: Yahoo!–ABC News Network.Google Scholar
  79. Nowak, M. A., Tarnita, C. E., & Wilson, E. O. (2010). The evolution of eusociality. Nature, 466(7310), 1057–1062.Google Scholar
  80. Oxford (2013). Definition of pride in English. Oxford Dictionaries, Accessed Nov 3, 2013, from http://www.oxforddictionaries.com/us/definition/american_english/pride.
  81. Panagopoulos, C. (2010). Affect, social pressure and prosocial motivation: Field experimental evidence of the mobilizing effects of pride, shame, and publicizing voting behavior. Political Behavior, 32, 369–386.Google Scholar
  82. PBS. (2013). Money on the mind. PBS NewsHour, Making Sense June 21.Google Scholar
  83. Peck, D. (2010). How a new jobless era will transform America. The Atlantic March 1.Google Scholar
  84. PewResearch. (2015). Beyond distrust: How Americans view their government. PewResearch Center for the People & the Press Nov. 23, Accessed Dec 17, 2016, from http://www.people-press.org/2015/2011/2023/2011-trust-in-government-1958-2015/.
  85. Piff, P. K., Kraus, M. W., Côté, S., Cheng, B., & Keltner, D. (2010). Having less, giving more: The influence of social class on prosocial behavior. Journal of Personality and Social Psychology, 99, 771–784.Google Scholar
  86. Piff, P. K., Stancato, D. M., Côté, S., Mendoza-Denton, R., & Keltner, D. (2011). Higher social class predicts unethical behavior. Proceedings of National Academy of Sciences, 109(11), 4086–4091.Google Scholar
  87. Piketty, T. (2014). Capital in the twenty-first century (Arthur Goldhammer, Trans.). Cambridge, MA: Belknap Press.Google Scholar
  88. Pillutla, M. M., & Chen, X. P. (1999). Social norms and cooperation in social dilemmas: The effects of context and feedback. Organizational Behavior and Human Decision Processes, 78(2), 81–103.Google Scholar
  89. Pirson, M., & Turnbull, S. (2011). Toward a more humanistic governance model: Network governance. Journal of Business Ethics, 99(1), 101–114.Google Scholar
  90. Pollak, R. A. (2000). Theorizing marriage. In L. J. Waite, C. Bachrach, M. Hindin, E. Thomson, & A. Thornton (Eds.), The ties that bind: Perspectives on marriage and cohabitation (pp. 111–125). New York: Aldine de Gruyter.Google Scholar
  91. Porter, M. E., & Kramer, M. R. (2006). Strategy and society: The link between competitive advantage and corporate social responsibility. Harvard Business Review, 84(12), 78–92.Google Scholar
  92. Potter, W. (2010). Deadly spin: An insurance company insider speaks out on how corporate PR is killing health care and deceiving Americans. New York: Bloomsbury Press.Google Scholar
  93. Reed, A., II, & Aquino, K. F. (2003). Moral identity and the expanding circle of moral regard toward out-groups. Journal of Personality and Social Psychology, 84(6), 1270–1286.Google Scholar
  94. Reich, R. (2013). The myth of the “free market” and how to make the economy work for us. RobertReich.org Monday, September 16. Accessed Sept 18, 2013, from http://robertreich.org/post/61406074983.
  95. Reitman, V. (1996). Jesse Jackson to add Honda to boycott, citing lack of diversity in U.S. arm. The Wall Street Journal July 18. New York: Dow Jones & Company.Google Scholar
  96. Roberts, N. (1978). Teaching dynamic feedback systems thinking: An elementary view. Management Science, 24(8), 836–843.Google Scholar
  97. Rosenthal, E. (2009). To cut global warming, Swedes study their plates. New York Times, October 22. New York: The New York Times Company.Google Scholar
  98. Rothbard, M. N. (2006). For a new liberty: The libertarian manifesto. Auburn, AL: Ludwig von Mises Institute.Google Scholar
  99. Sadowski, J., Seager, T. P., Selinger, E., Spierre, S. G., & Whyte, K. P. (2013). An experiential, game-theoretic pedagogy for sustainability ethics. Science and Engineering Ethics, 19(3), 1323–1339.Google Scholar
  100. Sadowski, J., Seager, T. P., Selinger, E., Spierre, S. G., & Whyte, K. P. (2015). Intergroup cooperation in common pool resource dilemmas: The role of ethical leadership. Science and Engineering Ethics, 5, 1197–1215.Google Scholar
  101. Saez, E. (2013). Striking it richer: The evolution of top incomes in the United States (Updated with 2012 preliminary estimates). Pathways Magazine, Stanford Center for the Study of Poverty and Inequality.Google Scholar
  102. Sandel, M. J. (2012). What money can’t buy: The moral limits of markets. New York: Farrar, Straus and Giroux.Google Scholar
  103. Schwartz, S. H. (1977). Normative influences on altruism. Advances in Experimental Social Psychology, 10, 221–279.Google Scholar
  104. Schwartz, R. D., & Orleans, S. (1967). On legal sanctions. University of Chicago Law Review, 34, 274–300.Google Scholar
  105. SCOTUS. (1980). Diamond v. Chakrabarty, 447 U.S. 303. Supreme Court of the United States, Certiorari to the United States Court of Customs and Patent Appeals No.79-136, Argued: March 17, 1980; Decided: June 1916, 1980.Google Scholar
  106. SCOTUS. (2013). Association for molecular pathology et al. v. myriad genetics, Inc., et al. Supreme Court of the United States, Certiorari to the United States Court of Appeals for the Federal Circuit No. 12-398, Argued: April 15, 2013; Decided: June 2013, 2013.Google Scholar
  107. Singer, P. (1981). The expanding circle: Ethics and sociobiology. New York: Farrar, Straus and Giroux.Google Scholar
  108. Sixel, L. M. (2002). Profiting from death? Lawsuit filed in Wal-Mart life insurance case. Houston Chronicle April 15. Houston: Hearst Newspapers.Google Scholar
  109. Skopek, J. (2010). Uncommon goods: On environmental virtues and voluntary carbon offsets. Harvard Law Review, 123, 2065–2087.Google Scholar
  110. Sky Valley Chronicle. (2013). A secret plan to get the feds to kill GMO labeling in every state? Sky Valley Chronicle November 12. Spokane, WA: Sky Valley Media Group, LLC.Google Scholar
  111. Smith, A. (1790). A theory of moral sentiments. London: A. Millar.Google Scholar
  112. Smith, A. (2008). An inquiry into the nature and causes of the wealth of nations. Oxford: Oxford University Press.Google Scholar
  113. Smith, E. B., & Kuntz, P. (2013). CEO pay 1,795-to-1 multiple of wages skirts U.S. law. Bloomberg April 30, Accessed Nov 8, 2013, from http://www.bloomberg.com/news/2013-2004-2030/ceo-pay-2011-2795-to-2011-multiple-of-workers-skirts-law-as-sec-delays.html.
  114. Spar, D. L. (2006). The baby business: How money, science, and politics drive the commerce of conception. Cambridge, MA: Harvard Business Review Press.Google Scholar
  115. Speth, L. E. (1993). The Married Women’s Property Acts, 1839–1865: Reform, reaction, or revolution? In J. R. Lindgren & N. Taub (Eds.), The law of sex discrimination (pp. 25–28). Eagan, MN: West Publishing Company.Google Scholar
  116. State of New York. (2012). Jury duty: Now it’s your turn to make a difference. New York State Unified Court System.Google Scholar
  117. Steiner, G. (2008). Animals and the moral community: Mental life, moral status, and kinship. New York: Columbia University Press.Google Scholar
  118. Swinton, D. H. (1990). Racial inequality and reparations. In R. F. America (Ed.), The wealth of races: The present value of benefits from past injustice (pp. 153–216). New York: Greenwood Press.Google Scholar
  119. Tangney, J. P., Stuewig, J., & Mashek, D. J. (2007). Moral emotions and moral behavior. Annual Review of Psychology, 58, 345–372.Google Scholar
  120. Tannehill, M., & Tannehill, L. (2009). The market for liberty: Is government really necessary? Gilbert, AZ: Laissez Faire Books.Google Scholar
  121. Taylor, V., & Van Dyke, N. (2004). ‘Get up, stand up’: Tactical repertoires of social movements. In D. A. Snow, S. A. Soule, & H. Kriesi (Eds.), The Blackwell companion to social movements (pp. 262–293). Malden, MA: Blackwell Publishing.Google Scholar
  122. The National Academies. (2009). Hidden costs of energy: Unpriced consequences of energy production and use. The National Academy of Sciences, Committee on Health, Environmental, and Other External Costs and Benefits of Energy Production and Consumption.Google Scholar
  123. Titmuss, R. M. (1971). The gift relationship: From human blood to social policy. New York: Vintage Press.Google Scholar
  124. Trinkaus, J., & Giacalone, J. A. (2002). Entrepreneurial ‘mining’ of the dying: Viatical transactions, tax shelters, and mind games. Journal of Business Ethics, 36(1–2), 187–194.Google Scholar
  125. Turillo, C. J., Folger, R., Lavelle, J. J., Umphress, E. E., & Gee, J. O. (2002). Is virtue its own reward? Self-sacrificial decisions for the sake of fairness. Organizational Behavior and Human Decision Processes, 89, 839–865.Google Scholar
  126. University of Virginia. (2004). Historical census browser. University of Virginia, Geospatial and Statistical Data Center. Accessed Nov 3, 2013, from http://mapserver.lib.virginia.edu/.
  127. US Constitution. (1787). Article IV, Section 2, Clause 3. United States Constitution.Google Scholar
  128. US SEC. (2010). Former countrywide CEO Angelo Mozilo to pay SEC’s largest-ever financial penalty against a public company’s senior executive. US Securities and Exchange Commission October 15 (197).Google Scholar
  129. Uzzi, B. (1997). Social structure and competition in interfirm networks: The paradox of embeddedness. Administrative Science Quarterly, 42(1), 35–67.Google Scholar
  130. Vogel, D. (2005). The market for virtue: The potential and limits of corporate social responsibility. Washington, D.C.: Brookings Institution Press.Google Scholar
  131. Vohs, K. D., Mead, N. L., & Goode, M. R. (2006). The psychological consequences of money. Science, 314(5802), 1154–1156.Google Scholar
  132. Weber, J. (1990). Measuring the impact of teaching ethics to future managers: A review, assessment, and recommendations. Journal of Business Ethics, 9(3), 183–190.Google Scholar
  133. Weick, K. E. (1995). Sensemaking in organizations. Thousand Oaks: Sage Publications.Google Scholar
  134. Werhane, P. H. (2002). Moral imagination and systems thinking. Journal of Business Ethics, 38(1/2), 33–42.Google Scholar
  135. Wilkinson, D. M. (2006). Fundamental processes in ecology: An earth systems approach. Oxford: Oxford University Press.Google Scholar
  136. Williams, B. (1994). Shame and necessity. Berkeley: University of California Press.Google Scholar
  137. Wise, S. M. (2000). Rattling the cage: Toward legal rights for animals. Cambridge, MA: Perseus Books.Google Scholar
  138. Wood, B. (1997). The origins of American slavery. New York: Hill and Wang.Google Scholar
  139. Zajac, E. J., & Westphal, J. D. (2004). The social construction of market value: Institutionalization and learning perspectives on stock market reactions. American Sociological Review, 69(3), 433–457.Google Scholar
  140. Zeelenberg, M. (1999). Anticipated regret, expected feedback and behavioral decision making. Journal of Behavioral Decision Making, 12(2), 93–106.Google Scholar
  141. Zeelenberg, M., & Beattie, J. (1997). Consequences of regret aversion 2: Additional evidence for effects of feedback on decision making. Organizational Behavior and Human Decision Processes, 72(1), 63–78.Google Scholar
  142. Zelizer, V. A. (2000). The purchase of intimacy. Law & Social Inquiry, 25(3), 817–848.Google Scholar

Copyright information

© Springer Science+Business Media Dordrecht 2017

Authors and Affiliations

  1. 1.Department of PhilosophyUniversity of Colorado DenverDenverUSA
  2. 2.Gabelli School of BusinessFordham UniversityNew YorkUSA

Personalised recommendations