Beneath the Surface: A discussion of Prominent Ideologies and Philosophical Influences on Anglo-American Business Ethics

This paper examines the economic rationalization and moral justifi- cation of capitalist systems in England and America between the 17 th and 19 th centuries within the framework of modes of exchange. On the surface, there existed a shared sociopolitical outcome which legitimized personal wealth, individualism, and political liberty. But contrary to conventional understanding, early English and American socioeconomic underpinnings of the market economy created different, if not divergent, motivational bases among the state, aristocracy, and the masses. Specifically, the English landed gentry formed a leisure class that shaped a culture of “gentlemanly” capitalism and enjoyed conspicuous consumption, while early American capitalists championed labor and hard work in tandem with a marked Puritan ethic. Thus, even for seemingly similar modes of exchange, very different patterns of ethical justifications of business practices existed. This supports the broader hypothesis that the evolution of modes of exchange requires geographically- and historically-specific moral or ethical justifications.