What’s the Point of Efficiency? On Heath’s Market Failures Approach

IF 3.4 2区 哲学 Q2 BUSINESS Business Ethics Quarterly Pub Date : 2022-09-20 DOI:10.1017/beq.2022.21
Richard Endörfer, L. Larue
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Abstract

This article reviews and criticizes Joseph Heath’s market failures approach (MFA) to business ethics. Our criticism is organized into three sections. First, we argue that, even under the ideal assumptions of perfect competition, when markets generate Pareto-efficient distributions, Heath’s approach does not rule out significant harms. Second, we show that, under nonideal conditions, the MFA is either too demanding, if efficiency is to be attained, or not sufficiently demanding, if the goal of Pareto efficiency is abandoned. Finally, we argue that Heath’s appeal to regulations and specific moral requirements as a remedy for market failures is unlikely to safeguard efficiency and exposes a number of general worries regarding the moral force of the MFA. We end this article with a constructive suggestion on how to adjust the MFA to avoid these problems while preserving its contractualist and Paretian spirit.
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效率的意义是什么?论希思的市场失灵方法
本文对Joseph Heath的市场失灵商业伦理方法进行了回顾和批判。我们的批评分为三个部分。首先,我们认为,即使在完全竞争的理想假设下,当市场产生帕累托有效分布时,希思的方法也不排除重大危害。其次,我们证明,在非理想条件下,如果要达到效率,MFA要么要求太高,要么要求不够,如果放弃帕累托效率的目标。最后,我们认为,希思呼吁法规和具体的道德要求来弥补市场失灵,这不太可能保障效率,并暴露出人们对MFA道德力量的普遍担忧。在本文结束时,我们就如何调整MFA以避免这些问题,同时保留其契约主义和Paretian精神提出了建设性的建议。
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来源期刊
CiteScore
6.20
自引率
10.00%
发文量
38
期刊介绍: Business Ethics Quarterly (BEQ) is a peer-reviewed scholarly journal that publishes theoretical and empirical research relevant to the ethics of business. Since 1991 this multidisciplinary journal has published articles and reviews on a broad range of topics, including the internal ethics of business organizations, the role of business organizations in larger social, political and cultural frameworks, and the ethical quality of market-based societies and market-based relationships. It recognizes that contributions to the better understanding of business ethics can come from any quarter and therefore publishes scholarship rooted in the humanities, social sciences, and professional fields.
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