Business ethics examine the ways in which conflicts between a society’s moral demands and economic requirements can be solved.

According to the theories, markets and morals do not have to disagree: Because of the market’s “invisible hand”, the sum of individual economic choices increases the overall welfare. A baker for instance does not primarily bake for altruistic reasons, but in order to make a living.

Instances exist in which conflicts arise between entrepreneurial pursuit of profit and a society’s legitimate interests. However, these can be resolved in a constructive manner. The government can intervene with regulations (systemic ethics), companies can act responsibly (corporate social responsibility) and individuals can act morally (individual moral).

Knut Bergmann

Dr. Knut Bergmann

Head of Communication and the Branch Office in Berlin

Tel+49 30 27877-110

Mailbergmann@iwkoeln.de

@knut_bergmann

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Dominik H. Enste

Prof. Dr. Dominik H. Enste

Head of the Research Unit Behavioral Economics and Business Ethics

Tel+49 221 4981-730

Mailenste@iwkoeln.de

@DominikEnste

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Theresa Eyerund

Theresa Eyerund

Economist in the Project Future of Work

Tel+49 221 4981-783

Maileyerund@iwkoeln.de

@TheresaEyerund

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Mara Grunewald

Dr. Mara Grunewald

Economist for Institutional and Behavioural Economics

Tel+49 221 4981-761

Mailgrunewald@iwkoeln.de

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Louisa Marie Kürten

Louisa Marie Kürten

Economic Research Consultant of the IW Akademie

Tel+49 221 4981-785

Mailkuerten@iwkoeln.de

@Louisa_Kuerten

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Lena Suling

Lena Suling

Economic Research Consultant of the IW Akademie

Tel+49 221 4981-816

Mailsuling@iwkoeln.de

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