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Wilhelm Röpke and the Role of “Moral Capital” for the Social Market Economy

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  • Franco Giuseppe

    (Faculty of Theology, Catholic University of Eichstätt-Ingolstadt, Eichstätt, Germany; Faculty of Philosophy, University of Salento-Lecce, Italy)

  • Habisch André

    (Ingolstadt School of Management (WFI), Catholic University of Eichstätt-Ingolstadt, Ingolstadt, Germany)

Abstract

This paper portrays the contribution of Wilhelm Röpke (1899-1966) to business ethics and social responsibility of entrepreneurs. First, Röpke’s critique of liberalism and his concept of social market economy are emphasized. Afterward, we analyze the normative foundations of Röpke’s concept of the entrepreneur. He called for the moral responsibility of business actors and perceived it as “moral capital.” Moreover, we discuss the relevance of Röpke in the contemporary context of international business practice. Finally, the role of entrepreneurial morality for the emergence of institutional frameworks for international business is discussed.

Suggested Citation

  • Franco Giuseppe & Habisch André, 2018. "Wilhelm Röpke and the Role of “Moral Capital” for the Social Market Economy," Journal for Markets and Ethics, Sciendo, vol. 6(1), pages 133-143, June.
    • Handle: RePEc:vrs:jmaeth:v:6:y:2018:i:1:p:133-143:n:14
    DOI: 10.2478/jome-2018-0033
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    References listed on IDEAS

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    1. Feld, Lars P., 2012. "Europa in der Welt von heute: Wilhelm Röpke und die Zukunft der Europäischen Währungsunion," Freiburg Discussion Papers on Constitutional Economics 12/2, Walter Eucken Institut e.V..
    2. Scherer, Andreas Georg & Palazzo, Guido & Baumann, Dorothée, 2006. "Global Rules and Private Actors: Toward a New Role of the Transnational Corporation in Global Governance," Business Ethics Quarterly, Cambridge University Press, vol. 16(4), pages 505-532, October.
    3. Andreas Georg Scherer & Guido Palazzo, 2011. "The New Political Role of Business in a Globalized World: A Review of a New Perspective on CSR and its Implications for the Firm, Governance, and Democracy," Journal of Management Studies, Wiley Blackwell, vol. 48(4), pages 899-931, June.
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