Economic Motivation and Its Relevance for Business Ethics

Xiuyi Zhao

Chapter Chapter 4 in Developing Business Ethics in China, 2006, pp 52-61 from Palgrave Macmillan

Abstract: Abstract The assessment of economic motivation, that is, the will to acquire and/or create wealth, has varied in accordance with the status of economic life within different social environments and during different historical periods. It was not until the rise of the market economy that economic motivation received significant recognition. In his analysis of the development of economic motivation in the history of Western civilization Max Scheler (1874–1928 points out that during ancient times and the Middle Ages, social class by birth and heredity determined the “privileges of political status, and only with such political status could one acquire wealth.” What could be acquired through different pursuits was determined by a standard in which “livelihood corresponded to status.” Political power and status absolutely determined and delimited the opportunities and pure activity space created by wealth (Scheler 1997, 10). In other words, political status with its corresponding morality was the highest standard for measuring all economic activities. The critical issue was social hierarchy, since only ‘livelihood that corresponded to status was lawful, moral, and normal. Economic motivation not subject to the limitations of status, however, was abnormal, immoral, and illegal. For this reason, the only way to rise above economic activities restricted by status was through the quest for treasure, turning worthless metals into gold, controlled pillages, and unlawful activities such as cheating people out of money.

Keywords: Business Ethic; Chinese Version; Political Status; Private Benefit; Neoclassical Economist (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-4039-8462-3_5

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DOI: 10.1057/9781403984623_5

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