Ethics for Capitalists offers a powerful new statement of the Market Failures Approach to business ethics. While the competitive context of the market economy provides economic actors greater freedom to pursue their interests, it also imposes moral constraints on the range of strategies they may employ. The pursuit of profit must be consistent with the overall objective of market institutions, which is to promote efficiency in the production and allocation of goods and services. Ethics for Capitalists draws out the implications of this view for business strategy, corporate governance, managerial authority, and shareholder primacy. The result is a philosophically rigorous, comprehensive approach to business ethics that will be foundational for all future reflection in the field.

Ethics for Capitalists offers a powerful new statement of the Market Failures Approach to business ethics. While the competitive context of the market economy provides economic actors greater freedom to pursue their interests, it also imposes moral constraints on the range of strategies they may employ. The pursuit of profit must be consistent with the overall objective of market institutions, which is to promote efficiency in the production and allocation of goods and services. Ethics for Capitalists draws out the implications of this view for business strategy, corporate governance, managerial authority, and shareholder primacy. The result is a philosophically rigorous, comprehensive approach to business ethics that will be foundational for all future reflection in the field.

In this wide-ranging and perceptive work of cultural criticism, Joseph Heath and Andrew Potter shatter the most important myth that dominates much of radical political, economic, and cultural thinking. The idea of a counterculture -- a world outside of the consumer-dominated world that encompasses us -- pervades everything from the antiglobalization movement to feminism and environmentalism. And the idea that mocking or simply hoping the system will collapse, the authors argue, is not only counterproductive but has helped to create the very consumer society radicals oppose.

In a lively blend of pop culture, history, and philosophical analysis, Heath and Potter offer a startlingly clear picture of what a concern for social justice might look like without the confusion of the counterculture obsession with being different.

Winner of the Shaughnessy Cohen Prize for Political Writing and Finalist for the Donner Prize

The co-author of the internationally bestselling The Rebel Sell brings us slow politics promoting slow thought, slow deliberation and slow debate.

Over the last twenty years, the political systems of the western world have become increasingly divided-not between right and left but between crazy and non-crazy. What's more, the crazies seem to be gaining the upper hand. Rational thought cannot prevail in the current social and media environment, where elections are won by appealing to voters' hearts rather than their minds. The rapid-fire pace of modern politics, the hypnotic repetition of daily news items and even the multitude of visual sources of information all make it difficult for the voice of reason to be heard.

In Enlightenment 2.0, bestselling author Joseph Heath outlines a program for a second Enlightenment. The answer, he argues, lies in a new slow politics. It takes as its point of departure recent psychological and philosophical research that identifies quite clearly the social and environmental preconditions for the exercise of rational thought. It is impossible to restore sanity merely by being sane and trying to speak in a reasonable tone of voice. The only way to restore sanity is by engaging in collective action against the social conditions that have crowded it out.

In political theory, the traditional model of state power was that elected officials make policy decisions which are then faithfully executed by a lower cadre of public servants. The complexity of the modern state, however, leaves this model outdate. The vast number of economic and social problems it confronts is such that a great deal of rule-making power is now delegated to a class of civil servants. Yet many political philosophers have not taken this model up, and the field has ignored the important role played by the class of permanent state officials--the deep state as some call it--in liberal states.

In most liberal democracies for example, the central bank is as independent as the supreme court, yet deals with a wide range of economic, social, and political issues. How do these public servants make these policy decisions? What normative principles inform their judgments? In The Machinery of Government, Joseph Heath attempts to answer these questions. He looks to the actual practice of public administration to see how normative questions are addressed. More broadly, he attempts to provide the outlines of a philosophy of the executive by taking seriously the claim to political authority of the most neglected of the three branches of the state. Heath both provides a corrective to the prevailing tendency to underestimate the contribution of civil servants to the success of liberal-democratic welfare states, and suggests a more satisfactory account of the principles implicit in public administration.

In this collection of provocative essays, Joseph Heath provides a compelling new framework for thinking about the moral obligations that private actors in a market economy have toward each other and to society. In a sharp break with traditional approaches to business ethics, Heath argues that the basic principles of corporate social responsibility are already implicit in the institutional norms that structure both marketplace competition and the modern business corporation. In four new and nine previously published essays, Heath articulates the foundations of a market failures approach to business ethics. Rather than bringing moral concerns to bear upon economic activity as a set of foreign or externally imposed constraints, this approach seeks to articulate a robust conception of business ethics derived solely from the basic normative justification for capitalism. The result is a unified theory of business ethics, corporate law, economic regulation, and the welfare state, which offers a reconstruction of the central normative preoccupations in each area that is consistent across all four domains. Beyond the core theory, Heath offers new insights on a wide range of topics in economics and philosophy, from agency theory and risk management to social cooperation and the transaction cost theory of the firm.

In political theory, the traditional model of state power was that elected officials make policy decisions which are then faithfully executed by a lower cadre of public servants. The complexity of the modern state, however, leaves this model outdated. The vast number of economic and social problems it confronts is such that a great deal of rule-making power is now delegated to a class of civil servants. Yet many political philosophers have not taken this model up, and the field has ignored the important role played by the class of permanent state officials--the deep state as some call it--in liberal states.

In most liberal democracies for example, the central bank is as independent as the supreme court, yet deals with a wide range of economic, social, and political issues. How do these public servants make these policy decisions? What normative principles inform their judgments? In The Machinery of Government, Joseph Heath attempts to answer these questions. He looks to the actual practice of public administration to see how normative questions are addressed. More broadly, he attempts to provide the outlines of a philosophy of the executive by taking seriously the claim to political authority of the most neglected of the three branches of the state. Heath both provides a corrective to the prevailing tendency to underestimate the contribution of civil servants to the success of liberal-democratic welfare states, and suggests a more satisfactory account of the principles implicit in public administration.

Economics is haunted by more fallacies than any other study known to man. -- Henry Hazlitt, Economics in One Lesson (1946)

Every day economic claims are used by the media or in conversation to support social and political positions. Those on the left tend to distrust economists, seeing them as friends of the right. There is something to this, since professional economists are almost all keen supporters of the free market. Yet while factions on the right naturally embrace economists, they also tend to overestimate the effect of their support on free-market policies. The result is widespread confusion. In fact, virtually all commonly held beliefs about economics--whether espoused by political activists, politicians, journalists or taxpayers--are just plain wrong.

Professor Joseph Heath wants to raise our economic literacy and empower us with new ideas. In Economics Without Illusions, he draws on everyday examples to skewer the six favourite economic fallacies of the right, followed by impaling the six favourite fallacies of the left. Heath leaves no sacred cows untipped as he breaks down complex arguments and shows how the world really works. The popularity of such books as Freakonomics and Predictably Irrational demonstrates that people want a better understanding of the financial forces that affect them. Highly readable, cogently argued and certain to raise ire along all points of the socio-political spectrum, Economics Without Illusions offers readers the economic literacy they need to genuinely understand and critique the pros and cons of capitalism.

In six new essays, philosopher and award-winning author Joseph Heath explores the connection between principles of justice and the institutional arrangements required to achieve them. Topics include the significance of status inequality, the question of open borders and immigration, the stigmatization of self-control failure, and debates over racial inequality in the United States. Ultimately, Cooperation and Social Justice reveals that one cannot think about questions of social justice without also taking seriously the institutional arrangements through which they may or may not be realized.

There is widespread agreement that something must be done to combat anthropogenic climate change. And yet what is the extent of our obligations? It would clearly be unjust for us to allow global warming to reach dangerous levels. But what is the nature of this injustice? Providing a plausible philosophical specification of the wrongness of our present inaction has proven surprisingly difficult. Much of this is due to the temporal structure of the problem, or the fact that there is such a significant delay between our actions and the effects that they produce. Many normative theories that sound plausible when applied to contemporaneous problems generate surprising or perverse results when applied to problems that extend over long periods of time, involving effects on individuals who have not yet been born. So while states have a range of sensible climate change policies at their disposal, the philosophical foundations of these policies remains indeterminate.

By far the most influential philosophical position has been the variant of utilitarianism most popular among economists, which maintains that we have an obligation to maximize the well-being of all people, from now until the end of time. Climate change represents an obvious failure of maximization. Many environmental philosophers, however, find this argument unpersuasive, because it also implies that we have an obligation to maximize economic growth. Yet their attempts to provide alternative foundations for policy have proven unpersuasive. Joseph Heath presents an approach to thinking about climate change policy grounded in social contract theory, which focuses on the fairness of existing institutions, not the welfare of future generations, in order to generate a set of plausible policy prescriptions.

In six new essays, philosopher and award-winning author Joseph Heath explores the connection between principles of justice and the institutional arrangements required to achieve them. Topics include the significance of status inequality, the question of open borders and immigration, the stigmatization of self-control failure, and debates over racial inequality in the United States. Ultimately, Cooperation and Social Justice reveals that one cannot think about questions of social justice without also taking seriously the institutional arrangements through which they may or may not be realized.

For centuries, philosophers have been puzzled by the fact that people often respect moral obligations as a matter of principle, setting aside considerations of self-interest. In more recent years, social scientists have been puzzled by the more general phenomenon of rule-following, the fact that people often abide by social norms even when doing so produces undesirable consequences. Experimental game theorists have demonstrated conclusively that the old-fashioned picture of economic man, constantly reoptimizing in order to maximize utility in all circumstances, cannot provide adequate foundations for a general theory of rational action. The dominant response, however, has been a slide toward irrationalism. If people are ignoring the consequences of their actions, it is claimed, it must be because they are making some sort of a mistake.

In Following the Rules, Joseph Heath attempts to reverse this trend, by showing how rule-following can be understood as an essential element of rational action. The first step involves showing how rational choice theory can be modified to incorporate deontic constraint as a feature of rational deliberation. The second involves disarming the suspicion that there is something mysterious or irrational about the psychological states underlying rule-following. According to Heath, human rationality is a by-product of the so-called language upgrade that we receive as a consequence of the development of specific social practices. As a result, certain constitutive features of our social environment-such as the rule-governed structure of social life-migrate inwards, and become constitutive features of our psychological faculties. This in turn explains why there is an indissoluble bond between practical rationality and deontic constraint.

In the end, what Heath offers is a naturalistic, evolutionary argument in favor of the traditional Kantian view that there is an internal connection between being a rational agent and feeling the force of one's moral obligations.

In this collection of provocative essays, Joseph Heath provides a compelling new framework for thinking about the moral obligations that private actors in a market economy have toward each other and to society. In a sharp break with traditional approaches to business ethics, Heath argues that the basic principles of corporate social responsibility are already implicit in the institutional norms that structure both marketplace competition and the modern business corporation. In four new and nine previously published essays, Heath articulates the foundations of a market failures approach to business ethics. Rather than bringing moral concerns to bear upon economic activity as a set of foreign or externally imposed constraints, this approach seeks to articulate a robust conception of business ethics derived solely from the basic normative justification for capitalism. The result is a unified theory of business ethics, corporate law, economic regulation, and the welfare state, which offers a reconstruction of the central normative preoccupations in each area that is consistent across all four domains. Beyond the core theory, Heath offers new insights on a wide range of topics in economics and philosophy, from agency theory and risk management to social cooperation and the transaction cost theory of the firm.