Medicine, Money, and Morals

In Values, Nature, and Culture in the American Corporation, distinguished ethicist William Frederick explores issues of fundamental importance to all who aspire to conduct their business affairs ethically. He begins with an examination of the three value systems in business that are basically incompatible, and therefore in constant tension. The first is the need for managers to efficiently allocate resources for maximum profits. The second is the natural tendency for managers, in pursuit of the first goal, to accumulate power for its own sake. The third is the desire for people in the community to create relationships that will perpetuate these communities. Frederick brings in a range of ideas and concepts from the social sciences as well as the natural sciences to illuminate his discussion. In the final section of the book he explores a range of issues of current concern to managers, including corporate culture and technology.