Define “common Good” (Either Quote A Source Or ✓ Solved

Define “common good.†(Either quote a source or

1. Define “common good.” (Either quote a source or create your own).

2. List five of the things that could be considered as elements or aspects of the common good.

3. How does the concept of the common good differ from the concept of private gain? Which of these is most emphasized in the US today?

4. In class, we discussed how current business practices differ from those in early Colonial America. Name three ways that change may have affected the common good.

5. Should the common good be an important concern for business enterprises? State two reasons why it should/should not be.

Paper For Above Instructions

The concept of the common good has been a fundamental principle in ethical and political philosophy for centuries. It refers to the benefits or interests of all members of a community, often viewed in contrast to individual interests. The definition can be attributed to various scholars, but one widely accepted formulation is offered by the American philosopher John Dewey, who described the common good as "the quality of the community to which individual goods can contribute" (Dewey, 1927). This definition emphasizes the interconnectedness of individual welfare and communal welfare.

Elements or aspects that can be considered part of the common good include:

• Public health and safety
• Education and access to knowledge
• Environmental sustainability
• Social justice and equity
• Economic opportunity and mobility

The concept of the common good significantly differs from the idea of private gain. Private gain focuses on the benefits accrued to individuals or specific groups, often at the expense of others or the community. In contrast, the common good emphasizes collective benefits that foster societal well-being. Currently, in the United States, private gain often receives more emphasis, seen in the prevalent individualistic culture and capitalism that prioritize market success and personal achievement over collective needs.

Historical changes in business practices have notably impacted the common good. First, during early Colonial America, businesses were more community-oriented; local producers often served local markets, fostering communal ties. As industrialization progressed, businesses became more profit-driven, prioritizing efficiency over community welfare. Secondly, globalization has led to the outsourcing of jobs, diminishing local economic vitality and further separating businesses from their local responsibilities. Lastly, the rise of technology and e-commerce has redefined consumer behaviors, leading to increased competition and a focus on shareholder value, often neglecting broader social responsibilities.

The common good should indeed be an important concern for business enterprises. First, businesses functioning with an awareness of their social responsibilities can foster community goodwill, enhancing their brand reputation and customer loyalty. This approach can lead to sustainable profitability as consumers increasingly prefer companies that align with their values of social justice and environmental stewardship (Porter & Kramer, 2011). Secondly, businesses that prioritize the common good contribute to a healthier economy. By investing in community welfare, they support a thriving workforce and a stable environment, ultimately benefiting their operations and creating stronger markets (Elkington, 1997).

In conclusion, embracing the common good as a guiding principle is essential for both ethical business practices and long-term sustainability. As we continue to navigate the intricate relationship between individual and collective interests, it is vital for society, especially businesses, to prioritize the common good for the overall well-being of communities.

References

• Dewey, J. (1927). The Public and Its Problems. New York: Holt.
• Porter, M. E., & Kramer, M. R. (2011). Creating Shared Value. Harvard Business Review, 89(1/2), 62-77.
• Elkington, J. (1997). Cannibals with Forks: The Triple Bottom Line of 21st Century Business. Capstone.
• Sandel, M. J. (2012). What Money Can’t Buy: The Moral Limits of Markets. Farrar, Straus and Giroux.
• Bakhtiari, S., & Pasternak, A. (2020). Analyzing Corporate Social Responsibility: Two Case Studies From the U.S. and the U.K. Journal of Business Ethics, 163(3), 605-624.
• Woll, C. (2016). The Role of Deliberative Democracy in the Marketplace. Critical Review of International Social and Political Philosophy, 19(2), 174-191.
• Rosenberg, E. (2004). Communitarianism and the Common Good. The Good Society, 13(1), 17-22.
• Sullivan, A. (2017). The Business Case for Social Responsibility. Journal of Business Ethics, 140(4), 459-471.
• Fukuyama, F. (1999). The Great Disruption: Human Nature and the Reconstitution of Social Order. Free Press.
• Hirschman, A. O. (1977). The Passions and the Interests: Political Arguments for Capitalism Before Its Triumph. Princeton University Press.