1 - Introduction

Summary

In Chapter 1, I address the continuing demand for a moral foundation for capitalism from the perspective of business leaders, business educators, and policymakers. These parties have been heavily impacted by the neoclassical economic view of capitalism based on narrow self-interest. I begin by discussing the demand for a moral foundation from the perspective of business leaders attempting to return to the stakeholder view of corporate responsibility that existed before the influence of the Chicago School. Next, I discuss the demand from the perspective of business educators attempting to return to the moral foundation provided by the early founders of the university-based business school. Finally, I discuss the demand from the perspective of policymakers attempting to return to an enlightened public policy that meets the broader needs of capitalist society. I conclude by outlining the leading characters and themes contained in this book. The search for a moral foundation for capitalism is not new. It has a long history going back to Adam Smith and the Scottish Enlightenment. The purpose of this book is to tell the story of this search through the lives and writings of its leading characters.