I. The Classical
The normative bill of particulars brought against American corporate business is lengthy, shocking, and saddening. From many quarters and over long stretches of time, a clamorous chorus has sounded out a damning indictment of specific business practices and, in some cases, a condemnation of the institution itself. Greed, selfishness, ego-centeredness, disregard of the needs and well-being of others, a narrow or nonexistent social vision, an ethnocentric managerial creed imposed on nonindustrial cultures, a reckless use of dangerous technologies, an undermining of countervailing institutions such as trade unions, a virtual political takeover of some pluralist government agencies, and a system of self-reward that few either inside or outside business have cared to defend as fair or moral—all of these attributes have been credited to the business account.
—William C. Frederick
Frederick's forthright assessment is rather poignant because he is a supporter and proponent of business, not one of its critics. The bill of particulars he enumerated does not even mention the serious accusations brought by those who see contemporary business organizations as all-powerful corrupters of political democracy and masters of an unjust international order (e.g., Korten, 1995, 1999; Luttwak, 1999; Mokhiber & Weissman, 1999; Soros, 2000). But one would have to be in serious psychological denial to fail to appreciate the enormous positive contributions made by modern business institutions. The widespread material well-be-