Opinion surveys and popular media suggest that American workers are disillusioned with their employers and bosses. Governance in organizations is becoming a recognized problem. Classical works on governance call for more virtuous leaders, less selfish followers, and closer attention to the common good. These works were rejected as a basis for governing nations in the 18th century. They are unlikely to provide a basis for governing organizations in the 21st century. This article outlines a liberal-democratic approach to governing corporations, applies this approach to debates over shareholder-stakeholder accountabilities, and proposes special accountabilities to employees.

The discipline of business ethics traditionally has paid too much attention to articulating and applying the moral law and has devoted too little thinking to the nature and consequences of evil for our souls. For purposes of this discussion, I shall limit myself to Dante’s vision of evil as a diminution of human being. On his journey through hell, Dante encounters the shades—people who, through their own actions, have rendered themselves less than fully human. This paper concentrates especially on the various types of fraud and their psychic effects as portrayed by Dante in his book Inferno.

Lifeboat ethics is an anomalous concept that has been applied to many different situations, such as overpopulation. In this presentation, Lifeboat Ethics is applied to plant closings (Darlington, Amoco/Neodesha, Chrysler/Kenosha) and downsizing (BP Amoco). The power of the decision maker—not the rights of the employees—determines who will remain, who will be forced overboard, and who will be invited in.

It had to happen. After two full decades of intense energy, business ethicists and business practitioners may actually have succeeded in suppressing the feeblest joke of the profession: “Business Ethics. Isn’t that an oxymoron?” Har har har.

In the early days of business ethics, the oxymoron had actual embodiments. “Business” was represented by hard-nosed, thick-skinned managers with no inclination to adopt academia’s language and critiques. “Ethics” was embodied by ivory-towered theoreticians with an undisguised contempt for profit makers. What a joke to think of these two groups as conceptually productive partners.

The decade in which the Business Ethics Quarterly has flourished has been a good one for business and business ethics, in which new guiding theories (like stakeholder theory), new interpretations of older ethical concepts (trust, virtue, and the social contract, for instance), and whole new paradigms of doing business (the Triple Bottom Line) have entered the literature. But practice has not kept up with theory, and the theoretical gains seem to be offset by terrible losses in the temperance of greed, the fostering of trustworthiness, and sensitivity to the natural environment.

The problem this paper is concerned with is the politics of reforming embedded, parasitic, sometimes predatory, network-based, corruption subsystems. The politics of corruption subsystems is often embedded in social structures sustained by the collective action of interest groups who benefit from the corruption. Therefore, the long-term effectiveness of approaches that focus solely on isolated, individual acts of corruption are limited. The politics of long-term corruption reform can benefit from a combined action-learning and social movement–based collective approach.

The relationship between ethics and economics has never been easy. Opponents in a tug of war, friends in a warm embrace, ships passing in the night—the relationship has been highly variable. In recent years, the friendship model has been gaining credence, particularly among U.S. corporate executives. Increasingly, companies are launching ethics programs, values initiatives, and community involvement activities premised on management’s belief that “Ethics pays.”

Combating and overcoming corruption in business and in political affairs is one of the most important issues facing business and professional ethics in the 21st century. That corruption exists is a fact. That corruption is widespread and spreading is a common perception. Many believe that corruption is culturally induced. Some believe corruption to be so much a part of the fabric of some societies as to be unquestioned and unassailable. Or, is it simply a myth that corruption is a matter of culture?

As we enter the new millennium, there is an overriding question facing global corporate free enterprise, and that is whether the corporations that now or will control and affect so much of the planet’s humanity and resources can demonstrate not only their profitability but their integrity. The old quasi-theological arguments still persist, whether multinational corporations and capitalism in general best serve humanity; whether corporations and capitalism are good or evil or whether they are, at best, amoral; whether corporations can have a conscience; and whether responsibility can be expected of them.

As the 21st century breaks upon us, no ethical issues in business appear as significant as those being created by the rapid globalization of business. Globalization has created numerous ethical problems for the manager of the multinational corporation. What does justice demand, for example, in the relations between a multinational and its host country, particularly when that country is less developed? Should human rights principles govern the relations between a multinational and the workers of a host country, and if so, which principles are the correct ones? How should a multinational deal with a government in which corruption is rife? What are the ethical considerations involved in determining whether and how to transfer a risky technology to a country whose people may not be able to safely absorb that technology? What kind of labor and environmental standards should a multinational adopt when operating in a country whose government legislates only very low standards?

The most serious ethical challenge facing multinational corporations in the next century is their exportation of the mental model of Western-style capitalism. This model promises that industrialized free enterprise in a free trade global economy, where businesses and entrepreneurs can pursue their interests competitively without undue regulations or labor restrictions, will produce growth and well-being, i.e., economic good, in every country or community where this phenomenon is allowed to operate. This paper points to some limitations to this model and illustrates how multinational corporations might meet this challenge.