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The Marketplace of Morality: First Steps Toward a Theory of Moral Choice1

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  • Dunfee, Thomas W.

Abstract

A marketplace of morality (MOM) is a place where individuals act under the influence of their moral desires. A MOM produces an output representing the aggregate acted-upon moral preferences of its participants. Individual behavior is influenced by POPs, or passions of propriety. People implement POP preferences when they buy stock, purchase goods and services, choose jobs and so on. Firms respond by social cause marketing and other devices which encourage customers to align their social preferences with those represented by the firm. The outputs of MOM constitute an important reference point for understanding business morality. Even so, the normative status of MOM outputs must be subject to principles of universal morality. A principle of greater preponderance is offered as a means for determining when a MOM output is ethically legitimate. A theory of moral choice, based upon the concept of a MOM, may have potential for providing a unifying framework integrating moral preferences, reasoning, behaviors and organizational contexts with broader political and economic concepts.

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  • Dunfee, Thomas W., 1998. "The Marketplace of Morality: First Steps Toward a Theory of Moral Choice1," Business Ethics Quarterly, Cambridge University Press, vol. 8(1), pages 127-145, January.
    • Handle: RePEc:cup:buetqu:v:8:y:1998:i:01:p:127-145_00
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    Cited by:

    1. Sigmund Wagner-Tsukamoto, 2009. "Consumer Ethics in Japan: An Economic Reconstruction of Moral Agency of Japanese Firms – Qualitative Insights from Grocery/Retail Markets," Journal of Business Ethics, Springer, vol. 84(1), pages 29-44, January.
    2. Nien-hê Hsieh, 2009. "Corporate Social Responsibility and the Priority of Shareholders," Journal of Business Ethics, Springer, vol. 88(4), pages 553-560, October.
    3. John Boatright, 2009. "Rent Seeking in a Market with Morality: Solving a Puzzle About Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 88(4), pages 541-552, October.

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