IRMA-International.org: Creator of Knowledge
Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

The Law and Economics of Integrity as Social Capital: Practical Ethics in a Capitalist Market Economy

The Law and Economics of Integrity as Social Capital: Practical Ethics in a Capitalist Market Economy
View Sample PDF
Author(s): George Steven Swan (North Carolina A&T State University, USA)
Copyright: 2018
Pages: 24
Source title: Business Education and Ethics: Concepts, Methodologies, Tools, and Applications
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-5225-3153-1.ch068

Purchase

View The Law and Economics of Integrity as Social Capital: Practical Ethics in a Capitalist Market Economy on the publisher's website for pricing and purchasing information.

Abstract

Individual responsibility is a critical feature of any successful market economy. Moreover, moral commitment is a crucial element of managerial authority in a capitalistic environment. For ethics, trust and integrity constitute social capital whereby an economy can thrive. For example, deserved earned trust lowers an interest rate. An atmosphere of integrity can minimize parties' confidence-malinvestment. In addition, integrity as social capital engenders a virtuous-circle feedback-mechanism respecting the character of a citizenry overall. This examination of the law and economics backdrop to these realities is informed by an array of insights from several Nobel laureates in economics and of a Father of Management Science, Peter F. Drucker.

Related Content

Sunil Ramlall, Ted Cross, Michelle Love. © 2022. 13 pages.
Huri B. Kose, Isha Kalanee, Yetkin Yildirim. © 2022. 13 pages.
Zeynep Merve √únal. © 2022. 28 pages.
Sharon Kehl Califano. © 2022. 16 pages.
Miary Andriamiarisoa. © 2022. 23 pages.
Matthew Williwam Hurtienne. © 2022. 17 pages.
Emily Guetzoian. © 2022. 18 pages.
Body Bottom