Moral Capitalism: Reconciling Private Interest with the Public Good

Moral Capitalism is based on the Caux Round Table (CRT) Principles for Business, a code of ethics that sets consistent and attainable worldwide guidelines for how business can behave responsibly and ethically. The book shows readers how to manage market capitalism and globalization for economic and social justice and fairness, in the process improving individual lives and communities. Author Stephen Young argues that "brute capitalism" - profit-seeking regardless of effects - must give way to moral capitalism to attain widespread monetary and moral well-being. Emphasizing a cross-cultural perspective that draws on Chinese and Japanese philosophies of selflessness, Young links moral aspirations to practical, day-to-day guidelines for a profitable approach to business that is also ethical, resulting in the public good.

Young (Global Executive Director of the Caux Round Table) attempts to save capitalism from itself by presenting his organization's "Principles for Business," which he believes justify and structure a moral capitalism for the world. He first argues that core moral values are fundamental to capitalism, but have been distorted into today's "brute" capitalism. He then presents his seven principles, related to concepts such as stakeholder responsibility, "a spirit of trust," respect for the environment, attention to economic and social impacts, respect for rules, and avoidance of illicit operations.
Annotation ©2004 Book News, Inc., Portland, OR (booknews.com)

In this text the author presents an understanding of the moral basis for market capitalism/globalization using the Caux Roundtable Principles for Business as a guide to decision-making in business.

This is the handbook for the Caux Round Table's "Principles for Business." This code of corporate ethics has received attention in many countries around the world as well as in the United States. The Principles for Business set consistent, worldwide guidelines for how businesses should behave responsibly and ethically. Young (Global Executive Director of the Caux Round Table, and former Assistant Dean at Harvard Law School) presents an innovative understanding of the moral basis for market capitalism and globalization.