Peter Koslowski

Globalization has become a common phenomenon, yet one that many people experience as a threat not only to their economic existence, but also to their cultural and moral self-image. This volume takes an interdisciplinary approach to provide a theoretical overview of how business ethics deals with the phenomenon of globalization. The authors first examine the origins and development of globalization and its interaction with business ethics, before discussing the impact on and role of national and multinational corporations. The book goes on to examine the relationship between industrialized and developing countries, and explores the place of ethics in globalized markets.

The Ethics of Banking analyzes the systemic and the ethical mistakes that led to the crisis. It keeps the middle ground between excusing all failures by the argument of a systemic crisis not to be taken responsibility for by the financial managers and the moralistic reproach that only moral failure is at the origin of the crisis. It investigates the role of speculation in the formation of the crisis and distinguishes between productive speculation for hedging and for securing market liquidity on the one hand, and unproductive and even detrimental hyper-speculation going far beyond of the degree of speculation that is necessary in a developed economy for the liquidity of financial markets, on the other hand. Hyper-speculation has increased the risks of the financial system and is still doing so.

The Ethics of Banking analyzes the systemic and the ethical mistakes that led to the crisis. It keeps the middle ground between excusing all failures by the argument of a systemic crisis not to be taken responsibility for by the financial managers and the moralistic reproach that only moral failure is at the origin of the crisis. It investigates the role of speculation in the formation of the crisis and distinguishes between productive speculation for hedging and for securing market liquidity on the one hand, and unproductive and even detrimental hyper-speculation going far beyond of the degree of speculation that is necessary in a developed economy for the liquidity of financial markets, on the other hand. Hyper-speculation has increased the risks of the financial system and is still doing so.

This book publishes the English translation of texts that appeared first in Gennan in two separate booklets. Part One, The Ethics of Capitalism includ- ing the comment by JAMES M. BUCHANAN, has been published in Gennan under the title Ethik des Kapitalismus, Ttibingen (J. C. B. Mohr [paul Sie- beck)) 1982, 5th edition 1995, in the series "Walter Eucken Institut, Vort:rt1ge und Aufsatze", vol. 87. Part Two, Evolution and Society. A Critique of So- ciobiology, appeared first in German under the title Evolution und Gesell- schaft. Eine Auseinandersetzung mit der Soziobiologie, Ttibingen (J.e. B. Mohr [Paul Siebeck)) 1984, 2nd edition 1989, in the same series, vol. 98. Part One of the book has been translated by the author, Part Two by DAVID AMBUEL. I should like to thank Liberty Fund Inc., Indianapolis, USA, for its sup- port of the translation of Part Two, Georg Siebeck of J. C. B. Mohr (paul Siebeck) Publishers, Ttibingen, for the pennission to publish the English translation of the two essays and to my co-workers at the Forschungsinstitut ftir Philosophie Hannover -The Hannover Institute of Philosophical Re- search, Hannover, Germany, for their support in editing this volume.

Wahrend das Gemeinwohl in der katholischen Soziallehre im Mittelpunkt der Theorie des Sozialen steht, wird von bestimmten Ansatzen des Liberalismus sowohl die Moglichkeit als auch die Notwendigkeit der Gemeinwohlorientierung bestritten. Das Buch entwickelt Elemente einer Theorie des Gemeinwohls und stellt seine Bedeutung fur Politik, Wirtschaft, Recht und Psychologie dar. Es analysiert die Gemeinwohlrelevanz der Scheidung von Gemeinschaften am Beispiel der Ehescheidung, der politischen Sezession und der Kirchentrennung und zeigt, dass der Gemeinwohlbegriff auch heute fur die Sozialtheorie unverzichtbar ist. - Mit Beitragen von H. Burkle, H. Doring, H. M. Emrich, E. Herms, W. Hinsch, M. Kaufmann, W. Kluxen, P. Koslowski, R. Nave-Herz, K. W. Norr, E. Nolte, A. Riklin und T. Shaocheng.

"Nachdem seit dem ersten Erscheinen dieses Buches sechzehn Jahre vergangen sind, stellt sich die Frage der Legitimität des Kapitalismus heute anders dar als 1982. Wenn damals eine ethische Theorie des Kapitalismus wie eine Provokation erscheinen mußte und eher eine Minderheitenposition beschrieb, so erscheint im Jahr 1998 der Sieg des Kapitalismus beinahe vollständig. Über Alternativen zum Kapitalismus wird kaum mehr gestritten, planwirtschaftliche Modelle werden kaum mehr vertreten. Eine solche Situation ist gefährlich, weil sie den Willen zu der immer notwendigen Reform und Verbesserung der Wirtschaftsordnung erlahmen läßt ... Die Wirtschaftsethik ist das Mittel, dieses Sich-in-Sicherheit-Wiegen des Systemdenkens aufzubrechen."

This book publishes the English translation of texts that appeared first in Gennan in two separate booklets. Part One, The Ethics of Capitalism includ- ing the comment by JAMES M. BUCHANAN, has been published in Gennan under the title Ethik des Kapitalismus, Ttibingen (J. C. B. Mohr [paul Sie- beck)) 1982, 5th edition 1995, in the series "Walter Eucken Institut, Vort:rt1ge und Aufsatze", vol. 87. Part Two, Evolution and Society. A Critique of So- ciobiology, appeared first in German under the title Evolution und Gesell- schaft. Eine Auseinandersetzung mit der Soziobiologie, Ttibingen (J.e. B. Mohr [Paul Siebeck)) 1984, 2nd edition 1989, in the same series, vol. 98. Part One of the book has been translated by the author, Part Two by DAVID AMBUEL. I should like to thank Liberty Fund Inc., Indianapolis, USA, for its sup- port of the translation of Part Two, Georg Siebeck of J. C. B. Mohr (paul Siebeck) Publishers, Ttibingen, for the pennission to publish the English translation of the two essays and to my co-workers at the Forschungsinstitut ftir Philosophie Hannover -The Hannover Institute of Philosophical Re- search, Hannover, Germany, for their support in editing this volume.