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Achieving Moral Capitalism through Entrepreneurial Justice

Scott L. Newbert and Michael D. Stouder

Review of Social Economy, 2012, vol. 70, issue 2, 233-251

Abstract: Adam Smith argued that capitalism was best achieved when individuals temper their economic self-interests with ethically grounded motivations. Unfortunately, Smith stopped short of articulating precisely how individuals might manage these seemingly competing interests in a way that is practical for actors in modern day organizations. We believe that a set of effective principles of justice can be found in the writings of political philosopher John Rawls. We argue that due to the empirical realities of entrepreneurs, the entrepreneurial context is aligned with Rawls' original position. We consider how Rawls' principles might inform founders of new organizations with regard to their interaction with organizational stakeholders.

Date: 2012
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DOI: 10.1080/00346764.2011.632322

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Handle: RePEc:taf:rsocec:v:70:y:2012:i:2:p:233-251