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"Social contract."
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Civil society
\"Now in its fourth edition, Civil Society has become a major work of reference for those who seek to understand the role of voluntary citizen action in a troubled world. Ideas about the civil sphere can shed much light on how we might respond to polarization, privatization, and authoritarians of different various stripes\"-- Provided by publisher.
Book
The Social License to Operate
This article proposes a way to zoom in on the concept of the social license to operate (SLO) from the broader normative perspective of contractarianism. An SLO can be defined as a contractarian basis for the legitimacy of a company's specific activity or project. \"SLO\", as a fashionable expression, has its origins in business practice. From a normative viewpoint, the concept is closely related to social contract theory, and, as such, it has a political dimension. After outlining the contractarian normative background to the SLO, we will show how academic concepts such as legitimacy and stakeholder management have a tendency to provide the intellectual underpinning for the business case for securing an SLO. While business case perspectives on the SLO may well be in line with the use of the term in business practice, we will highlight certain difficulties and ambiguities related to the instrumental use of the expression. In the final section, we briefly introduce the articles of this Special Issue to the reader and explain how they relate to the topic.
Journal Article
A Dilemma of Self-interest vs. Ethical Responsibilities in Political Insider Trading
Political insider trading has brought substantial attention to ethical considerations in the academic literature. While the Stop Trading on Congressional Knowledge (STOCK) Act prohibits members of Congress and their staff from leveraging non-public information to make investment decisions, political insider trading still prevails. We discuss political ethics and social contract theory to re-engage the debate on whether political insider trading is unethical and raises the issues of conflict of interest and social distrust. Empirically, using a novel measure of information risk, we find that senator trades are associated with substantially high levels of information asymmetry. Moreover, based on inside political information, senators earn significant market-adjusted returns (4.9% over 3 months). Thus, our results do not support the prediction made by social contract theory and thereby provide a potential resolution to the ongoing debate on banning stock trading for members of Congress.
Journal Article
Digital Trust and Cooperation with an Integrative Digital Social Contract
I argue for the role of trust and cooperation as part of the foundation of digital commerce by expanding the reach of the Integrative Social Contract Theory (ISCT) of Donaldson and Dunfee (Ties that Bind, 1999). I propose that a digital business community can be a community in the morally relevant ways that Donaldson and Dunfee describe, and that the basic framework of ISCT can apply to the digital business world similarly to its application in the offline business world. I then analyze the roles of trust and cooperation in e-commerce, showing how they are important to the digital business community and explaining their moral relevance under a digital form of ISCT. I use the ISCT framework to show that trust and cooperation are an instantiation of the hypernorm of necessary social efficiency, and that authentic microsocial norms developed for the ends of trust and cooperation carry moral responsibility.
Journal Article
Evolution of the social contract
\"In this new edition of Evolution of the Social Contract, Brian Skyrms uses evolutionary game theory to analyze the genesis of social contracts and investigates social phenomena including justice, communication, altruism, and bargaining. Featuring new material on evolution and information transfer, and including recent developments in game theory and evolution literature, his book introduces and applies appropriate concepts of equilibrium and evolutionary dynamics, showing how key issues can be modelled as games and considering the ways in which evolution sometimes supports, and sometimes does not support, rational choice. He discusses topics including how bargaining with neighbours promotes sharing of resources, the diversity of behavior in ultimatum bargaining in small societies, the Prisoner's Dilemma, and an investigation into signalling games and the spontaneous emergence of meaningful communication. His book will be of great interest to readers in philosophy of science, social science, evolutionary biology, game and decision theory, and political theory\"-- Provided by publisher.
Book
How Friedman's View on Individual Freedom Relates to Stakeholder Theory and Social Contract Theory
Friedman's view on corporate social responsibility (CSR) is often accused of being incoherent and of setting rather low ethical standards for managers. This paper outlines Friedman's ethical expectations for corporate executives against the backdrop of the strong emphasis he puts on individual freedom. Doing so reveals that the ethical standards he imposes on managers can be strictly deduced from individual freedom and that these standards involve both deontological norms and the fulfillment of particular stakeholder expectations. These insights illustrate the necessity to reconsider how Friedman's approach relates to other important normative theories of business ethics. Contrasting Friedman's approach with stakeholder theory and integrative social contract theory—when considering the importance he assigns to individual freedom—shows how and why these approaches differ. Still, the comparison also highlights striking similarities. This paper contributes to a better understanding of Friedman's position—which is still one of the most influential approaches in business ethics research—because it enables a differentiated look at its strengths and weaknesses.
Journal Article
Social fragmentation and the decline of American democracy : the end of the social contract
Explores the social and political implications of what the authors identify as the decline of the social contract in America and the rise of a citizenry that has become self-centered, entitled, and independent. For nearly two decades, America has been in a 'cultural war' over moral values and social issues, becoming a divided nation geographically, politically, socially, and morally. We are witnessing the decline of American Democracy, the authors argue, resulting from the erosion of the idea of the social contract.
Book
The All-Stakeholders-Considered Case for Corporate Beneficence
In ways accentuated by the global coronavirus pandemic, corporations constitute vital instruments of the acts of beneficence needed by the people of the world to make progress in public health and increase collective and individual well-being. This article contributes to understanding the variety of moral forces that may lead corporations to commit acts of beneficence, including Friedman’s business case for corporate beneficence, the duty of beneficence as developed by business ethicists, and Dunfee’s social contract account of corporate obligation. Whereas Mejia recently contributed to scholarship on corporate beneficence by expressly adopting shareholder primacy’s conception of corporate governance, this article embraces a stakeholder-oriented, managerialist picture of corporate governance. I extend the literature on beneficence by incorporating what I argue is the intuition underlying Dunfee’s contractualist formula of minimal contribution, namely that management’s duty to do good is awakened and unshackled to the extent management judges the corporation can afford to commit acts of beneficence, all stakeholders considered. The all-stakeholders-considered case for corporate beneficence compels management to act, I argue, when inaction would undermine the moral integrity of managers personally committed to promoting the well-being of humanity.
Journal Article