TY  - CHAP
AB  - Abstract There is significant debate regarding the necessity for and existence of moral exemplars in business. We believe it is both necessary and beneficial for free market economic systems to be viewed as a moral exemplar by business students, educators, practitioners, and ethicists. Since much of the world operates under some type of free market economic paradigm, it is important that there be a moral base for these operations.Free market economic systems are usually defended on utilitarian grounds, that they produce better results than other systems. In this chapter we take a micro approach and show that free market economic systems support individual rights and dignity. This is important because business persons need moral exemplars based in their own discipline’s theory to recognize the vocational aspects of business. That is, business persons must understand why free market systems serve the greater good.Free market systems are not a complete or perfect moral exemplar. Business persons need to know the limits of the economic system and find other moral exemplars for their role as citizens. We illustrate this with the discussion of monopoly and Option for the Poor.Catholic Social Teaching (CST), the moral exemplar of the Roman Catholic Church, has been developed over many centuries. The purpose of this chapter is to show how free market economic outcomes are compatible with CST goals. Illustrating the consistency between CST and free market systems provides compelling evidence that such systems are indeed a moral exemplar for business persons.
VL  - 10
SN  - 978-1-78350-075-8, 978-1-78350-074-1/1529-2096
DO  - 10.1108/S1529-2096(2013)0000010007
UR  - https://doi.org/10.1108/S1529-2096(2013)0000010007
AU  - Coate Charles J.
AU  - Mitschow Mark C.
PY  - 2013
Y1  - 2013/01/01
TI  - Free Market Economics Supporting Catholic Social Teaching: A Moral Exemplar for Business Persons
T2  - Moral Saints and Moral Exemplars
T3  - Research in Ethical Issues in Organizations
PB  - Emerald Group Publishing Limited
SP  - 41
EP  - 62
Y2  - 2024/04/25
ER  -