A Tale of Two Cities: Finance and Morals

  • Clarence Walton
Part of the Issues in Business Ethics book series (IBET, volume 11)


Individuals held responsible for managing enormous sums of money intended for the good of others-and for policy formulations on complex issues related thereto—are understandably restive when asked to consider the usefulness of an inquiry rooted in a form of moral reasoning. Moral reasoning, unlike financial analysis, draws its substance from philosophy, a discipline recently distinguished more by methodological virtuosity than by substantive solidity. Today’s men of affairs would applaud Callicles, the friend of Socrates, when he said that philosophy was a “pretty thing” for youths to study but is the “ruin of man” if continued into adult life: “In a word, they are completely without experience of men’s character. And so when they enter upon any activity, public or private, they appear ridiculous, just as public men, I suppose, appear ridiculous when they take part in your discussions and arguments.”1


Corporate Social Responsibility Moral Reasoning Institutional Investor Pension Fund Institutional Ownership 
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Copyright information

© Kluwer Academic Publishers 1998

Authors and Affiliations

  • Clarence Walton

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