by Eugene Rotwein (Madison: University of Wisconsin Press, 1970), pp. 22, 23; emphasis in original.
(11) See Kenneth J. Arrow, 'Social Responsibility and Economic Efficiency,' Public Policy 21:3 (Summer 1973); reprinted in Donaldson and Werhane, Ethical Issues in Business, pp. 227-237.
(12) George Soros, 'The Capitalist Threat,' The Atlantic Monthly, February 1997, p. 52.
(13) See Ian Maitland, 'Virtuous Markets: The Market as School of the Virtues,' Business Ethics Quarterly 7:1(1997): 17-31; also see Arrow, 'Social Responsibility and Economic Efficiency.'
(14) See Bill Shaw, 'Sources of Virtue.'
(15) Hanna Fenichel Pitkin, 'Justice: On Relating Private and Public,' Political Theory 9:3(1981): 327-352; reprinted in Lewis P. Hinchman and Sandra K. Hinchman, eds., Hannah Arendt: Critical
Essays (Albany: State University of New York Press, 1994), pp. 261-288.
(16) See Hannah Arendt, The Human Condition (Chicago and London: University of Chicago Press, 1958), especially sections 1-5, 24-28. Also see Hannah Arendt, Between Past and Future: Eight Exercises in Political Thought enlarged ed. (New York: Viking Press, 1968), especially Chapter One: 'The Concept of History.' Arendt herself would not have applied her category of public action to economic activity. For her such activity is 'social,' by which she means that it is a private matter that has appeared in public, thereby crowding out consideration of genuinely public matters. The advantage of Pitkin's reconstruction of Arendt's categories is that we are able to recognize that all human dealings can become matters of public significance. I discuss in detail the reconstruction of Arendt's categories of action in 'Re-engaging Hannah Arendt: Locating Public Virtue in the Modern World,' a paper presented before the Society of Greek Political Thought at the Midwestern Political Science Association Meeting in Chicago, Illinois on April 12, 1997.
(17) Pitkin, p. 279.
(18) Besides Arendt, contemporary and recent writers stressing public action include Benjamin Barber, Strong Democracy (Berkeley: University of California Press, 1994); Robert Bellah, et al., Habits of the Heart: Individualism and Commitment in American Life (New York: Harper & Row, 1985); Bellah, et al., The Good Society (New York: Alfred A. Knopf, 1991); John Dewey, The Public and Its Problems (Denver: Alan Swallow 1927); Carole Pateman, Participation and Democratic Theory (Cambridge: Cambridge University Press, 1970); Charles Taylor, Sources of the Self: The Making of the Modern Identity (Cambridge: Harvard University Press, 1989); and Sheldon Wolin, Politics and Vision: Continuity and Innovation in Western Political Thought (Boston: Little, Brown, 1960).
(19) See Christopher D. Stone, 'Why the Law Can't Do It,' in Tom L. Beauchamp and Norman E. Bowie, eds., Ethical Theory and Business 3rd ed. (Englewood Cliffs: Prentice-Hall, 1988), pp. 162-6.
(20) Paul Camenisch, 'Business Ethics: On Getting to the Heart of the Matter,' in William H. Shaw and Vincent Barry, eds., Moral Issues in Business 6th ed. (Belmont: Wadsworth Publishing Co., 1995), p. 255.
(21) There has been interest in recent years in creating legislation that would sharply curtail short-term speculation in stocks. Possible disincentives have included heavy taxation on profits from short-term spe
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