IDEAS home Printed from https://ideas.repec.org/a/kap/jbuset/v133y2016i3d10.1007_s10551-014-2408-0.html
   My bibliography  Save this article

Economy of Mutuality: Merging Financial and Social Sustainability

Author

Listed:
  • Kevin T. Jackson

    (Fordham University
    Université libre de Bruxelles)

Abstract

The article posits the concept of economy of mutuality as an intellectual mediation space for shifts in emphasis between market and social structures within economic theory and practice. Economy of mutuality, it is contended, provides an alternative frame of reference to the dichotomy of market economy and social economy, for inquiry about what business is for and what values it presupposes and creates. The article centers around the objective of gaining a broadened understanding of business so as to include not just market economy, but social enterprise and social economy. In pursuit of this objective, a range of various archetypes of business enterprise are considered in light of higher ends of economic life. The highest telos of business encompassing all such archetypes, it is argued, is founded on reciprocity and integral human development. The article concludes that, compared to market economy per se, economy of mutuality provides a better conceptual framework for business in undertaking the challenges of sustainability.

Suggested Citation

  • Kevin T. Jackson, 2016. "Economy of Mutuality: Merging Financial and Social Sustainability," Journal of Business Ethics, Springer, vol. 133(3), pages 499-517, February.
    • Handle: RePEc:kap:jbuset:v:133:y:2016:i:3:d:10.1007_s10551-014-2408-0
    DOI: 10.1007/s10551-014-2408-0
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10551-014-2408-0
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s10551-014-2408-0?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Thomas Dohmen & Armin Falk & David Huffman & Uwe Sunde, 2009. "Homo Reciprocans: Survey Evidence on Behavioural Outcomes," Economic Journal, Royal Economic Society, vol. 119(536), pages 592-612, March.
    2. Ricardo, David, 1821. "On the Principles of Political Economy and Taxation," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, edition 3, number ricardo1821.
    3. Koehn, Daryl, 1995. "A Role for Virtue Ethics in the Analysis of Business Practice," Business Ethics Quarterly, Cambridge University Press, vol. 5(3), pages 533-539, July.
    4. Samuel Gregg, 2010. "Wilhelm Röpke’s Political Economy," Books, Edward Elgar Publishing, number 13360.
    5. Goodpaster, Kenneth E., 1991. "Business Ethics and Stakeholder Analysis," Business Ethics Quarterly, Cambridge University Press, vol. 1(1), pages 53-73, January.
    6. Richard Montgomery, 1996. "Disciplining or protecting the poor? Avoiding the social costs of peer pressure in micro-credit schemes," Journal of International Development, John Wiley & Sons, Ltd., vol. 8(2), pages 289-305.
    7. Alejo Sison & Joan Fontrodona, 2011. "The Common Good of Business: Addressing a Challenge Posed by «Caritas in Veritate»," Journal of Business Ethics, Springer, vol. 100(1), pages 99-107, March.
    8. Solomon, Robert C., 1992. "Corporate Roles, Personal Virtues: An Aristotelean Approach to Business Ethics," Business Ethics Quarterly, Cambridge University Press, vol. 2(3), pages 317-339, July.
    9. John KAY, 1991. "The Economics Of Mutuality," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 62(3), pages 309-318, July.
    10. Guglielmo Faldetta, 2011. "The Logic of Gift and Gratuitousness in Business Relationships," Journal of Business Ethics, Springer, vol. 100(1), pages 67-77, March.
    11. Paul Dembinski, 2011. "The Incompleteness of the Economy and Business: A Forceful Reminder," Journal of Business Ethics, Springer, vol. 100(1), pages 29-40, March.
    12. Kenneth Goodpaster, 2011. "Goods That are Truly Good and Services that Truly Serve: Reflections on “Caritas in Veritate”," Journal of Business Ethics, Springer, vol. 100(1), pages 9-16, March.
    13. Smith, Adam, 1759. "The Theory of Moral Sentiments," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number smith1759.
    14. Leonardo Becchetti & Alessandra Pelloni & Fiammetta Rossetti, 2008. "Relational Goods, Sociability, and Happiness," Kyklos, Wiley Blackwell, vol. 61(3), pages 343-363, August.
    15. Phillips, Robert A., 1997. "Stakeholder Theory and A Principle of Fairness," Business Ethics Quarterly, Cambridge University Press, vol. 7(1), pages 51-66, January.
    16. Moore, Geoff, 2005. "Humanizing Business: A Modern Virtue Ethics Approach," Business Ethics Quarterly, Cambridge University Press, vol. 15(2), pages 237-255, April.
    17. Wolfgang Grassl, 2011. "Hybrid Forms of Business: The Logic of Gift in the Commercial World," Journal of Business Ethics, Springer, vol. 100(1), pages 109-123, March.
    18. Kropotkin, Petr, 1902. "Mutual Aid: A Factor of Evolution," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number kropotkin1902.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Francesco Sarracino & Luca Fumarco, 2020. "Assessing the Non-financial Outcomes of Social Enterprises in Luxembourg," Journal of Business Ethics, Springer, vol. 165(3), pages 425-451, September.
    2. Francisco J. Rincón Roldán & Álvaro López Cabrales, 2019. "Ethical values in Social Economy, Human Resource Management Practices and Sustainability," Working Papers 19.05, Universidad Pablo de Olavide, Department of Business Organization and Marketing (former Department of Business Administration).
    3. Jiguang Wang & Bing Ran, 2019. "Balancing Paradoxical Missions: How Does Microfinance Rebuild a Sustainable Path in Poverty Alleviation?," SAGE Open, , vol. 9(2), pages 21582440198, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Domènec Melé, 2009. "Integrating Personalism into Virtue-Based Business Ethics: The Personalist and the Common Good Principles," Journal of Business Ethics, Springer, vol. 88(1), pages 227-244, August.
    2. Andrew Abela & Ryan Shea, 2015. "Avoiding the Separation Thesis While Maintaining a Positive/Normative Distinction," Journal of Business Ethics, Springer, vol. 131(1), pages 31-41, September.
    3. Alan J. Kearns, 2017. "Rebuilding Trust: Ireland’s CSR Plan in the Light of Caritas in Veritate," Journal of Business Ethics, Springer, vol. 146(4), pages 845-857, December.
    4. David McPherson, 2013. "Vocational Virtue Ethics: Prospects for a Virtue Ethic Approach to Business," Journal of Business Ethics, Springer, vol. 116(2), pages 283-296, August.
    5. Pablo Sanz & Joan Fontrodona, 2019. "Moderation as a Moral Competence: Integrating Perspectives for a Better Understanding of Temperance in the Workplace," Journal of Business Ethics, Springer, vol. 155(4), pages 981-994, April.
    6. Andrew West, 2018. "After Virtue and Accounting Ethics," Journal of Business Ethics, Springer, vol. 148(1), pages 21-36, March.
    7. Marina Balboa & Germán López-Espinosa & Antonio Rubia, 2012. "Non-linear Dynamics in Discretionary Accruals: An Analysis of Bank Loan-Loss Provisions," Faculty Working Papers 07/12, School of Economics and Business Administration, University of Navarra.
    8. Dulce Redín & Reyes Calderón & Ignacio Ferrero, 2014. "Exploring the Ethical Dimension of Hawala," Journal of Business Ethics, Springer, vol. 124(2), pages 327-337, October.
    9. J. Graafland, 2010. "Do Markets Crowd Out Virtues? An Aristotelian Framework," Journal of Business Ethics, Springer, vol. 91(1), pages 1-19, January.
    10. Alejo Sison & Joan Fontrodona, 2011. "The Common Good of Business: Addressing a Challenge Posed by «Caritas in Veritate»," Journal of Business Ethics, Springer, vol. 100(1), pages 99-107, March.
    11. Ricardo Zózimo & Miguel Pina e Cunha & Arménio Rego, 2023. "Becoming a Fraternal Organization: Insights from the Encyclical Fratelli Tutti," Journal of Business Ethics, Springer, vol. 183(2), pages 383-399, March.
    12. Joan Fontrodona & Alejo Sison & Boudewijn Bruin, 2013. "Editorial Introduction: Putting Virtues Into Practice. A Challenge for Business and Organizations," Journal of Business Ethics, Springer, vol. 113(4), pages 563-565, April.
    13. Tricia D. Olsen & Harry J. Van Buren, 2024. "Agonistic Respect and the Ethics of Employment Relationships," Journal of Business Ethics, Springer, vol. 193(2), pages 271-284, August.
    14. Caleb Bernacchio, 2021. "Virtue Beyond Contract: A MacIntyrean Approach to Employee Rights," Journal of Business Ethics, Springer, vol. 171(2), pages 227-240, June.
    15. Samuel Mansell, 2013. "Shareholder Theory and Kant’s ‘Duty of Beneficence’," Journal of Business Ethics, Springer, vol. 117(3), pages 583-599, October.
    16. David Dawson, 2018. "Measuring Individuals’ Virtues in Business," Journal of Business Ethics, Springer, vol. 147(4), pages 793-805, February.
    17. Dohmen, Thomas, 2014. "Behavioral labor economics: Advances and future directions," Labour Economics, Elsevier, vol. 30(C), pages 71-85.
    18. Stark, Oded & Zawojska, Ewa & Kohler, Wilhelm & Szczygielski, Krzysztof, 2018. "An adverse social welfare effect of a doubly gainful trade," Journal of Development Economics, Elsevier, vol. 135(C), pages 77-84.
    19. Richard Marens, 2010. "Speaking Platitudes to Power: Observing American Business Ethics in an Age of Declining Hegemony," Journal of Business Ethics, Springer, vol. 94(2), pages 239-253, August.
    20. Sandrine Frémeaux & Anouk Grevin & Roberta Sferrazzo, 2023. "Developing a Culture of Solidarity Through a Three-Step Virtuous Process: Lessons from Common Good-Oriented Organizations," Journal of Business Ethics, Springer, vol. 188(1), pages 89-105, November.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jbuset:v:133:y:2016:i:3:d:10.1007_s10551-014-2408-0. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.