A kantian theory of capitalism


Norman E. Bowie
Abstract
In his essay, Bowie aims at completing an older project, examining the moral presuppositions which a modern corporation ought to fulfill from the perspective of Kantian moral philosophy. Bowie argues that Kant’s first formulation of the categorical imperative provides a theory of moral permissibility for market interactions. Interactions that violate the universalizability formulation of the categorical imperative are morally impermissible. The second formulation of the categorical (the humanity or “end in itself’ formulation) provides the basis for a more robust theory of moral obligation in personal market interactions. At a minimum labor cannot be treated as a commodity. All persons in a market transaction must be treated with respect. At a maximum the business firm ought to provide its employees with meaningful work. The third formulation of the categorical imperative, which Bowie calls the moral community formulation provides the foundation for a moral business organization. Kant’s general Enlightenment moral position supports the goal of an international business community free of war and particularistic strife. Business could play a positive role in building a moral global community.
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