COMMUNITY, BUSINESS ETHICS, AND GLOBAL CAPITALISM

The absorption of the cultural sphere into the commercial sphere signals a fundamental change in human relationships with troubling consequences for the future of society. From the beginning of civilization to now, culture has always preceded markets. People create communities, construct elaborate codes of social conduct, reproduce shared meanings and values, and build social trust in the form of social capital Only when social trust and social exchange are well developed do communities engage in commerce and trade…. When the commercial sphere begins to devour the cultural sphere … it threatens to destroy the very social foundations that give rise to commercial relations. ¹     

Power comes with responsibility��or does it?

In a Public Good (PG) experiment, after playing it the standard way, one of the players (the allocator) is given power over the endowments of her co-players. Will the allocator show responsibility i.e., contribute most or all of her own as well as her co-players?? endowments? Can we thus improve the suboptimal level of voluntary provisions of public goods? The result is that, on average, all players are better off than in the standard PG game. In repetitions of the procedure, however, selfish behavior (contributing mainly the others?? endowments) becomes more and more frequent.