The Challenge of Objectivist Ethics: Ethical Thinking in Business, Rationalism, and Ayn Rand

Abstract

Few people think of business ethics as being addressed outside of main-stream business ethics, philosophy and corporate social responsibility circles. This view is in error. Arguably the most prominent philosopher of the last century, Ayn Rand, has provided a philosophy of business that is satisfying to many people, not the least of which is Chairman of the Federal Reserve, Alan Greenspan. Rand's philosophy suggests that self-interested behaviour is not merely an economic modeling of human behaviour, but an ethical imperative. To professional philosophers, Rand is naïve and unsatisfying; however, that does not diminish her appeal to the less sophisticated. After a review of Rand's great popular appeal, the article then moves on to some of the main points of her philosophy, offers a critique of those points and then encourages a more serious analysis of Rand's philosophy, particularly for those teaching and consulting on ethics.

Keywords: business ethics, objectivism, philosophy, Dewey

JEL Classification: B31, I29, M14