Volume 11, Number 2
Fall 2008

Editorial

1

Hope Amid Financial Calamity

Article

189

Subprime Lending and Social Justice: A Biblical Perspective*

205

Philanthropy, Markets, and Commercial Society: Beyond the Hayekian Impasse

221

The Ethical Lacunae in Friedman’s Concept of the Manager

239

Milton Friedman on Income Inequality

255

Human Finitude and Specialized Production: A Christian-Realist Rationale for Business Enterprises*

275

The Production of Business Ethics

Review

303

Review of "Review of Stepping Out of the Brain Drain: Applying Catholic Social Teaching in a New Era of Migration"

305

Review of "Christians at the Border: Immigration, the Church, and the Bible"

307

Review of "Freedom and the Human Person"

308

Review of "Justice: Rights and Wrongs"

310

Review of "A Shared Morality: A Narrative Defense of Natural-Law Ethics"

313

Review of "The Subjective Dimension of Human Work: The Conversion of the Acting Person According to Karol Wojtyla/John Paul II and Bernard Lonergan"

316

Note on Barrera’s The Evil of Scarcity

321

Review of "Making Poor Nations Rich: Entrepreneurship and the Process of Economic Development" and "The Bottom Billion: Why the Poorest Countries Are Failing and What Can Be Done About It"

325

Review of "Frugality: Rebalancing Material and Spiritual Values in Economic Life"

328

Review of "Public Values and Public Interest"

330

Review of "Norms of Liberty: A Perfectionist Basis for Non-Perfectionist Politics"

331

Review of "What Your Money Means (And How to Use It Well)"

335

Review of "New Perspectives on Adam Smith’s The Theory of Moral Sentiments"

337

Review of "Entrepreneurship and Economic Progress"

340

Review of "History of Economic Thought as an Intellectual Discipline"

343

Review of "The Mystery of Capital and the Construction of Social Reality"

Scholia

349

Appendix to Psalm 15 Concerning the Oath

349

Appendix to Psalm 15 Concerning Usury

349

Psalm 15 (1551)

353

Introduction: Wolfgang Musculus on Christian Righteousness, Oaths, and Usury

Contributors

461

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The Production of Business Ethics

by Guido Hulsmann

In this article, we outline a conceptual framework for dealing with implementation problems of business ethics. To the extent that implementation consumes scarce resources, it is from the economic point of view a problem of production. As such, it can be analyzed with the customary tools of economic analysis. In our comparative approach, we contrast the production of business ethics with the spontaneous emergence of business ethics in the market process. We also compare it to forced ethics (the imposition of ethical codes of conduct by private parties) and to fiat ethics (imposition by legislation and other authoritarian acts).

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