Jaworski on HeathPosted: February 14, 2013
“Moving Beyond Market Failure: When the Failure is Government’s” by Peter Jaworski
A COMMENT ON Joseph Heath (2006), “Business Ethics Without Stakeholders,” Bus Ethics Q 16(4): 533–557.
Abstract: Joseph Heath lumps in rent seeking with cartelization, taking advantage of information asymmetries, seeking a monopoly position, and so on, as all instances of behaviour that can lead to market failures in his market failures approach to business ethics. The problem is that rent and rent seeking, when they fail to deliver socially desirable outcomes, are instances of government failure. I try to argue that this is so, offer an amendment to Heath’s approach, and then explain why accurately describing the failure matters.
To download the full PDF, click here: Jaworski on Heath.
Update! Now see also Heath’s reply to Jaworski.