Performance and Progress: Essays on Capitalism, Business, and Society

Cover
Performance and Progress: Essays on Capitalism, Business, and Society
Copyright
Acknowledgments
Contents
List of Figures
List of Tables
List of Contributors
Introduction
	The Five Themes
		Problem
		Progress
		Balancing and Trade-Offs
		Choices and Preferences
		Power and Trust
	Intended Readership
		So What? Looking Back, Looking Forward
Part I: Problem
	Chapter 1: What´s Wrong with Capitalism?
		Fundamental Issues with the Contemporary Paradigm and Practice of Capitalism
		The Purpose of an Economic System-Confusing Moral Aims with Amoral Methods
		Testing our Assumptions
		Risks and Consequences
		The Role of Business
		The Multiple Roles Played by Individuals
		Self-Correcting Forces and the Need for Regulation
		Gaps in Knowledge and Future Research
		Bibliography
	Chapter 2: Do the Mistakes Lie in Decision-Makers or in Economics?
		Decision Theory Intelligence
		Interpreting Deviations from Decision Theory Intelligence
		The Limitations of Adaptation
		Possible Advantages of Rule-Following
		The Social Functions of Decision-Making
		The Limits of Economics
		Do the Mistakes Lie in Decision-Makers or in Economics?
		Acknowledgment
		References
	Chapter 3: Some Failures of the Economy
		Introduction
		Complex Adaptive Systems: Adapting to What?
		The Economy as a Complex System: How do we Evaluate its Performance?
		The Case for the Success of the Economy
		Increasing Returns and Economic Performance
		Information and the Economy: The Good and the Bad
		The Failures of the Price System
		The Social, Political, and Ethical Necessities for Good Performance
		References
	Chapter 4: Corruption
		Concentrated Power: The Cure that is the Disease
			Concentrating Power
			Is there an Alternative?
		Beyond Money
			Corruption Compromises Self-Awareness
		Agency is an Achievement
			Compromised Group Agency
		No Man is an Island
			Beyond Men of System
		Conflict and Justice
		Acknowledgments
		References
	Chapter 5: Social Control in a Stateless World Society
		Introduction
			A Note on Labels
		The Structural Setting of Perceived World Problems
			Expansion and Interdependence
			A Stateless World Society
			The Lowered Legitimacy of the National State
		The Cultural Construction of Global Social Order
			Scientization
			The Entitled and Empowered Human Individual
			Education
			Summary: The Rise of the Actor
		Problem-Solving Activism and Organization in the Global Order
			Social Activist Orientations and Action
			The Ubiquity of Organization
			Legitimating and Controlling International Capitalism
		Dialectics, and the Problems Created by Solutions
			Contestations
			Problem-Creating Capacity
		Conclusion
		Acknowledgments
		References
	Problem:
Discussion Summary
Part II: Progress
	Chapter 6: Capitalism and Human Progress
		Methodological Preliminaries 1: Progress
		Methodological Preliminaries 2: Capitalism
		Capitalism and Progress: Poverty and Inequality
		Social Norms
		Institutional Responsibilities
		Law, Money, Honor
		Honor Worlds
		Envoi
		References
	Chapter 7: On Progress
		Introduction
		Preliminaries
		Natural Science
		Ethical Progress
		Social Progress
		Questions
		Acknowledgments
		References
	Chapter 8: Freedom, Responsibility, and Keeping (Our) Hope Alive
		Evidence
		Beyond Running
		Reflections
		Progress
		Hope and Hopelessness
		Keeping Hope Alive
		Keeping our Hope Alive
		Faith
		Acknowledgments
		References
	Chapter 9: Progress and Public Reasoning
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		References
	Chapter 10: An Entrepreneur´s Reflections on Progress
	Progress:
Discussion Summary
Part III: Balancing and Trade-offs
	Chapter 11: The Business Enterprise as an Ethical Agent
		Ethics in the Context of Business Enterprise
		The Firm as a Joint Enterprise Founded on Relations of Reciprocity and Trust
		Ethical Implications of Understanding the Firm as a Nexus of Reciprocal Relationships
		Constraints on the Reciprocity Model?
			Fiduciary Duties of Corporate Directors
			The Market for Corporate Governance
			Capital Constraints
			Competitive Pressures
			Corporate Governance Constraints
			Executive Compensation
			Executive Culture
		References
	Chapter 12: Shareholders, Stakeholders, and Strategic Factor Markets
		The Shareholder Dominance Model
		Strategic Factor Market Theory
		Implications of Strategic Factor Markets for Shareholder Dominance Logic
		An Example with Human Capital
		Distributing Residual Cash among Multiple Stakeholders
		The Problem of Externalities
		Conclusion
		References
	Chapter 13: Climate Change, Justice, and Humanity´s Collective Ownership of the Earth
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		References
	Chapter 14: Paradox of Abundance
		The Paradox of Abundance
		Is Labor Scarcity Declining?
		The Puzzle of Falling Wages
		How Computerization Changes Work: A Concrete Characterization
			Simulation
			Communications
			Engagement
		Conclusions
		Acknowledgments
		References
	Chapter 15: A Unique Opportunity
		The Capitalistic System: Chasing Opportunities, with Consequences
		The Tipping Point: Digitization Introduces a Unique Opportunity
		Reimagining Capitalism in the Digital Era
		Guiding the Capitalist System: Making Sustainable Business Good Business
		Conclusion
		References
	Chapter 16: The Goal and Role of Business
		Achieving Societal Relevance
		The Smarter Planet Agenda
		The IBM Commitment to Africa
		The IBM Commitment to Public Sector Effectiveness
		The IBM Focus on Transformation, Leadership, and Values
		Globalization
		Leadership and Values
		Earning Trust around the World
	Balancing
and Trade-Offs: Discussion Summary
Part IV: Choices and Preferences
	Chapter 17: Holistic Capitalism
		Capitalism: An Early Oversimplified Definition
		An Introduction to Holistic Capitalism
		Freedom to Define Preferences and Make Choices
		Voice and Decision: The Power of the Individual
		Choosing Means versus Ends
		Balance Defines Choices and Preferences: The Four Poles of the Good Society
		Influences
			Extrinsic Factors
			Intrinsic Factors and the Notion of ``Purpose´´
		Prospects for Societal Progress within a Capitalist System
			The Concept of Holistic Capitalism: A Natural Evolution
			The Role of Individuals within a Holistic Capitalism System
			The Role of Investors: How to Convince them to Move beyond Profits?
			The Role of the Business Leader
			The Role of Consumers: How to Convince them to Move towards Sustainable Products and Services?
		The Role of Government: Providing a Fertile Ground
			Awareness-Raising
			Partnering
			Proactive Soft Interventions
		A Sense of Urgency
			The Power Lies Within
		Questions for Future Research
		References
	Chapter 18: Whither The Good Firm
		Introduction
		Can Corporate Goodness be Accurately Measured?
		Separating Agency Motivated from Strategic CSR
		Distinguishing among Different Strategic Motivations for CSR
		Conclusion
		References
	Chapter 19: Positional Externalities As A Source of Market Failure
		A Troubling Feature of the Left´s Critique of Capitalism
		An Equilibrium Explanation of Insufficient Workplace Safety
		Hours Regulation
		Regulating Financial Markets
		Mandatory Savings
		Progressive Taxation
		Better Still: A Progressive Consumption Tax
		Concluding Remarks
		References
	Chapter 20: Well-Being, Values, and Improving Lives
		Well-Being As Value Fulfillment
			Overview
			Values and Valuing
			Value Fulfillment
			Value-Full Lives
		Changing Values and Improving Lives
			Value Fulfillment and Holism
			Applying the Theory: Individual Change and Global Crises
		Conclusion
		Acknowledgments
		References
	Chapter 21: Ideas of Reason
		References
	Choices
and Preferences: Discussion Summary
Part V:  Power and Trust
	Chapter 22: Two Fallacies About Corporations
		Introduction
		Against the Claim that Corporate Bodies are Not Real Agents
			Corporate Bodies are Representable as Agents
			Corporate Bodies Represent themselves as Agents
			Against the First Fallacy
		Against the Claim that Corporate Agents Have Autonomous Rights
			Some Legal History
			Against the Second Fallacy
		Conclusion
		Acknowledgments
	Chapter 23: Corporate Power in The Twenty-First Century
		What is Corporate Power?
		Corporate Power in the Twentieth Century
		The Collapse of Corporate Power in the Twenty-First Century
		Nikefication and the Dispersal of Production
		The Impact of Nikefication on the Corporate Form
		The Collapse of the Corporate Elite
		The Post-Nike Corporation
		The New PowerBall Economy
		Corporate Power Today
		Conclusion and Future Research
		References
	Chapter 24: Contesting the market
		Introduction
		The Threat of Market Power
		The Distinctive Value of Contestation
			Vulnerability to Arbitrary Interference
			Insensitivity to Relevant Interests
			Trust in Markets
			The Deliberative Constitution of Public Value
		Prospects for Ameliorating the Threat
		References
	Chapter 25: Recasting The Corporate Model
		Introduction
		Corporations in Question
			The Dominance of Shareholder Value Capitalism
			A Global Crisis of Confidence
			The Search for Alternative Corporate Models
		The Rise and Spread of Social Enterprises
			A Brief History of Social Enterprises
			The Contemporary Spread of Social Enterprises
			A Delicate Balance
		A Roadmap for Research on Hybrid Organizing in Social Enterprises
			Hybridizing Tensions Facing Social Enterprises
				External Challenges
				Internal Challenges
			Hybrid Organizing
				Organizational Activities
				Workforce Composition
				Organization Design
				Inter-Organizational Relationships
				Organizational Culture
		Concluding Remarks: Towards an Increased Hybridization of the Economy
		Acknowledgments
		References
	Chapter 26: Trust and Power
		Trust is Critical to a Free Market Economy
		The Promotion of Institutional Trust
		Is Trust Disappearing in our Societies?
		Power without Trust Cannot Run a Company
		The Development of a Compliance Culture
		The Incredible Power of Trust
		The Limits of Restoring Trust through Regulation
		A Trust Based on Ethics
		Trusting People, and Not Only Institutions
		Trust and Ethics in Business Schools
		Conclusion
		References
	Power and Trust: Discussion Summary
Index of Names
Index of Subjects