IDEAS home Printed from https://ideas.repec.org/a/cup/buetqu/v25y2015i04p461-488_00.html
   My bibliography  Save this article

Towards an Ethical Wealth of Nations: An Institutional Perspective on the Relation between Ethical Values and National Economic Prosperity

Author

Listed:
  • Jennings, Peter L.
  • Velasquez, Manuel

Abstract

In this paper we examine how ethical values contribute to national economic prosperity. We extend the concept of an ethical wealth of nations first introduced by Donaldson in which he proposed four categories of ethical values—fairer distribution of goods, better government, ingrained social cooperation, and inculcation of economic duties—that can drive economic performance, but only if citizens ascribe “intrinsic value†to them independent of their economic interests. Our analysis draws on institutional economics and sociology research to show that if ethical values are to drive economic performance, they must also be supported by the institutional fabric of the nation. We embed an expanded set of ethical values in a set of democratic, free market and civil society institutions spanning three sectors of society—political, economic and cultural respectively. We conclude by discussing the implications of our institutional framework for moral education.

Suggested Citation

  • Jennings, Peter L. & Velasquez, Manuel, 2015. "Towards an Ethical Wealth of Nations: An Institutional Perspective on the Relation between Ethical Values and National Economic Prosperity," Business Ethics Quarterly, Cambridge University Press, vol. 25(4), pages 461-488, October.
    • Handle: RePEc:cup:buetqu:v:25:y:2015:i:04:p:461-488_00
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S1052150X15000421/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kristine Velasquez Tuliao & Chung-wen Chen, 2019. "Economy and Supervisors’ Ethical Values: Exploring the Mediating Role of Noneconomic Institutions in a Cross-National Test of Institutional Anomie Theory," Journal of Business Ethics, Springer, vol. 156(3), pages 823-838, May.
    2. Nai-Ying Whang, 2021. "The Virtue of School Leadership: Three Paths to Fulfilling Value Forms," SAGE Open, , vol. 11(1), pages 21582440211, March.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:buetqu:v:25:y:2015:i:04:p:461-488_00. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/beq .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.