Ethical Innovation in Business and the Economy
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Ethical Innovation in Business and the Economy

Edited by Georges Enderle and Patrick E. Murphy

Innovation has become a buzzword that promises dramatic changes in almost every field of business. Absent from this attention is a serious discussion of the ethical sides of dramatic change. To address this, editors Georges Enderle and Patrick E. Murphy gather a team of experts to fully examine the ethics of innovation within business and the economy in this standout addition to the Studies in TransAtlantic Business Ethics series.
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Chapter 12: Capitalism in the twenty-first century: tracing Adam Smith in emergent variations of free enterprise

Patricia H. Werhane and David Bevan


Chapter 12 by Patricia H. Werhane and David Bevan takes up the critical view of present day ‘market capitalism’ – already expressed in several previous chapters. The authors rectify the widely held misinterpretation of Adam Smith’s understanding of free enterprise and demonstrate, with numerous examples, the expanding drive of alternative businesses in different parts of the world. This constructive trend from the bottom-up is articulated and exemplified also in several other chapters.

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