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Why Business? What is the Role of Business in a Just and Humane Society

James Otteson

The course examines the common perceptions of business (both positive and negative) and the role of business in a market economy by first introducing the main elements of a market economy, and then presenting opposing points of view of this economic model.The course encourages reflection upon the possibility that business can be honorable and play a role in a just and humane society.

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What's inside

Syllabus

Justice in a Commercial Society?
Many people are suspicious of business. Should they be? Can business be honorable? Is business required to “give back” to society? These are some of the questions you’ll consider during this first week of the course. I will introduce you to common perceptions of business (negative and positive) and encourage you to reflect upon the possibility that business can be honorable and play a role in a just and humane society.
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Value – Broken Windows and Prices
Can everything be priced in a market? Where do prices come from, and what do they do? In this second week of the course, you will examine what prices do, learn about what they are for, and consider whether or not markets can price everything.
Objections to Markets
What are the most important worries about or objections to market economies? Can markets be moral? In week 3, you will consider the social responsibilities of business. You will also consider criticisms of markets and arguments for government intervention in the economy.
Why Business?
Can one be fully moral and at the same time engage in business in a market economy? Can one express one’s moral values and live a virtuous life in business? In Week 4, you will come full circle to address the essential question of the course: Why business? This week, you’ll reflect on the role of business in a just and humane society. You will also consider the role of business from your own perspective, and you will have a chance to examine (question) your own moral obligations as a person engaged in or with business.

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Examines the ethical implications of business in a market economy
Presents balanced discussions on both positive and negative perceptions of business
Core audience is likely to be business professionals, students, or individuals interested in the ethical dimensions of business

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Career center

Learners who complete Why Business? What is the Role of Business in a Just and Humane Society will develop knowledge and skills that may be useful to these careers:
Investment Banker
Investment Bankers provide financial advice to companies and governments. They help companies raise capital through stock and bond offerings. They also help governments finance their operations. Investment Bankers must have a strong understanding of economics, finance, and business. This course can help future Investment Bankers develop a strong foundation in economics and business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.
Financial Analyst
Financial Analysts use financial data to make investment recommendations. They analyze company performance, industry trends, and economic conditions to assess the financial health of companies and make predictions about their future performance. Financial Analysts must have a strong understanding of economics, finance, and business. This course can help future Financial Analysts develop a strong foundation in economics and business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.
Project Manager
Project Managers plan, organize, and direct the activities of a project. They are responsible for ensuring that projects are completed on time, within budget, and to the required quality standards. Project Managers must have a strong understanding of business principles and project management practices. This course can help future Project Managers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.
Sales Manager
Sales Managers lead and motivate sales teams to achieve sales targets. They develop sales strategies, set sales goals, and track sales performance. Sales Managers must have a strong understanding of business principles and sales techniques. This course can help future Sales Managers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.
Product Manager
Product Managers are responsible for the development and marketing of products. They work with engineers, designers, and marketing teams to bring products to market. Product Managers must have a strong understanding of business principles and product development processes. This course can help future Product Managers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.
Operations Manager
Operations Managers oversee the day-to-day operations of a business. They are responsible for planning, organizing, and directing the activities of employees. Operations Managers must have a strong understanding of business principles and management practices. This course can help future Operations Managers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.
Accountant
Accountants examine business and financial records to prepare financial statements, such as balance sheets and income statements. They also analyze business operations to find ways to improve profitability. Accountants must have an understanding of economics, accounting principles, and business law. This course can help future Accountants develop a strong foundation in economics and business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.
Management Consultant
Management Consultants help companies improve their performance. They analyze business operations, identify problems, and develop solutions. Management Consultants must have a strong understanding of business principles and management practices. This course can help future Management Consultants develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.
Marketing Manager
Marketing Managers develop and implement marketing campaigns to promote products and services. They research market trends, identify target audiences, and develop marketing strategies. Marketing Managers must have a strong understanding of business principles and marketing techniques. This course can help future Marketing Managers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.
Strategy Consultant
Strategy Consultants help companies develop and implement strategies to achieve their business goals. They analyze business operations, identify opportunities, and develop strategies to improve performance. Strategy Consultants must have a strong understanding of business principles and strategic planning processes. This course can help future Strategy Consultants develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.
Lawyer
Lawyers advise and represent clients in legal matters. They interpret and apply laws, regulations, and legal precedents to advise clients on their legal rights and obligations. Lawyers must have a strong understanding of business principles and legal principles. This course can help future Lawyers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.
Judge
Judges preside over legal proceedings and make decisions based on the law and evidence presented in court. They must have a strong understanding of business principles and legal principles. This course can help future Judges develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.
Teacher, Postsecondary
Postsecondary and adult educators instruct classes at colleges, universities, and other educational institutions. They work with students to help them learn and grow in their academic and professional lives. This course can help future Postsecondary Teachers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.
Urban and Regional Planner
Urban and regional planners make plans for the development of land and communities. They analyze land use data, population trends, and economic conditions to develop plans that promote sustainable development. Urban and regional planners must have a strong understanding of business principles and land use planning principles. This course can help future Urban and Regional Planners develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.
Purchasing Manager
Purchasing Managers oversee the procurement of goods and services for an organization. They negotiate contracts with suppliers, manage inventory, and track purchasing costs. Purchasing Managers must have a strong understanding of business principles and supply chain management practices. This course can help future Purchasing Managers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

Reading list

We've selected 14 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Why Business? What is the Role of Business in a Just and Humane Society.
This classic work of economics is considered one of the most important books ever written on the subject. It provides a comprehensive overview of the principles of economics and explores the role of government in the economy.
Presents a comprehensive theory of justice. It argues that justice requires the establishment of a society in which all citizens have equal basic rights and liberties.
This anthology of classic works on the good society provides a comprehensive overview of the different perspectives on what constitutes a good society. It includes readings from philosophers, sociologists, economists, and political scientists.
Presents a comprehensive theory of justice. It examines the different principles of justice and argues that justice requires the promotion of human capabilities.
Examines the role of government and business in creating innovation and economic growth. It challenges the traditional view that the private sector is the primary driver of innovation and argues that government investment is essential for fostering new industries and technologies.
Examines the long-term trends in wealth and inequality. It argues that capitalism is inherently prone to increasing inequality and that government intervention is necessary to reduce inequality.
Presents a comprehensive overview of virtue ethics. It examines the concept of virtue and argues that virtue is essential for living a good life.
Examines the challenges facing capitalism in the 21st century, including rising inequality, technological disruption, and environmental degradation. It offers a roadmap for how to reform capitalism to make it more inclusive and sustainable.
Provides a comprehensive overview of the ethical issues facing businesses in the 21st century. It explores the role of business in promoting social justice, environmental sustainability, and economic development.
This classic work of philosophy explores the meaning of life and the nature of human existence. It examines the themes of work, love, and politics and provides insights into the human condition.
Examines the negative consequences of the modern corporation. It argues that corporations have become too powerful and that they are pursuing profit at the expense of the environment, society, and democracy.

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