The Challenges of Capitalism for Virtue Ethics and the Common Good
Show Less

The Challenges of Capitalism for Virtue Ethics and the Common Good

Interdisciplinary Perspectives

Edited by Kleio Akrivou and Alejo José G Sison

The evolution of modern capitalist society is increasingly being marked by an undeniable and consistent tension between pure economic and ethical ways of valuing and acting. This book is a collaborative and cross-disciplinary contribution that challenges the assumptions of capitalist business and society. It ultimately reflects on how to restore benevolence, collaboration, wisdom and various forms of virtuous deliberation amongst all those who take part in the common good, drawing inspiration from European history and continental philosophical traditions on virtue.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 4: Virtuous banking: the role of the community in monitoring English joint-stock banks and their managements in the nineteenth century

Victoria Barnes and Lucy Newton


Following the financial crisis of 1825¬–26, liberalizing legislation led to the establishment of joint-stock banks (JSBs) in competition with the existing private banking institutions. JSBs successfully established themselves from 1826 onwards, to the extent that they eclipsed the private banks by the end of the century and became the dominant form of bank in the UK. This chapter considers the behaviour and decision-making of the directors and managers of the new JSBs. It was in the interests of JSBs to govern themselves responsibly and honestly/virtuously in order to establish a trustworthy reputation and to remain accountable to the communities that they served. But did such moral obligation also lead to moral practice?

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.