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Morality and the Market in China: Some Contemporary Views

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  • Hanafin, John J.

Abstract

A significant effect of China’s rejection of a planned economy for a free market is the stimulus this has given to discussion of the relationship between morality and the market. Some Chinese believe that the introduction of a market economy has had a negative effect on public morality. Others disagree and maintain that it has had only a positive effect. Besides this particular debate there are two others. In the first of these debates, it is maintained on the one side that conduct in the market is amoral and essentially contractual or transactional in nature: a boundary must be drawn between economic conduct and conduct in other spheres of social life. Against this it is argued that ethical norms apply equally to all aspects of social life including the economy. In the second debate one side holds that the market engenders its own “ethical” norms. In opposition it is argued that the moral categories articulated in moral philosophy are applicable to behaviour in the market.

Suggested Citation

  • Hanafin, John J., 2002. "Morality and the Market in China: Some Contemporary Views," Business Ethics Quarterly, Cambridge University Press, vol. 12(1), pages 1-18, January.
    • Handle: RePEc:cup:buetqu:v:12:y:2002:i:01:p:1-18_00
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    Cited by:

    1. Kit-Chun Lam & Guicheng Shi & Guicheng Shi, 2008. "Factors Affecting Ethical Attitudes in Mainland China and Hong Kong," Journal of Business Ethics, Springer, vol. 77(4), pages 463-479, February.
    2. Fuan Li, 2022. "Market Ethic and Morality Transformation in Emerging Economies," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 111-124.
    3. Liu, Yongmei & Liu, Xiao-Yu, 2018. "Politics under abusive supervision: The role of Machiavellianism and guanxi," European Management Journal, Elsevier, vol. 36(5), pages 649-659.
    4. Nick Lee & Amanda Beatson & Tony Garrett & Ian Lings & Xi Zhang, 2009. "A Study of the Attitudes Towards Unethical Selling Amongst Chinese Salespeople," Journal of Business Ethics, Springer, vol. 88(3), pages 497-515, October.
    5. Shafer, William E., 2008. "Ethical climate in Chinese CPA firms," Accounting, Organizations and Society, Elsevier, vol. 33(7-8), pages 825-835.
    6. Shujun Ding & Chunxin Jia & Zhenyu Wu, 2016. "Mutual Fund Activism and Market Regulation During the Pre-IFRS Period: The Case of Earnings Informativeness in China from an Ethical Perspective," Journal of Business Ethics, Springer, vol. 138(4), pages 765-785, November.
    7. William Shafer & Kyoko Fukukawa & Grace Lee, 2007. "Values and the Perceived Importance of Ethics and Social Responsibility: The U.S. versus China," Journal of Business Ethics, Springer, vol. 70(3), pages 265-284, February.

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