The text describes different philosophical concepts and historically important cultural phenomena that should be considered while rethinking ethical side of business. Broad range of both philosophical (such as the search for the foundations of morality, social contract) and social subjects (such as history of centralized state, individualism) is presented to help the reflections. The background for analysis is the history of culture, especially of primary collective society; contrasted with it is individualism of classical Athens with corresponding reaction of philosophers; development of state and Christianity in Roman Empire; organismic medieval state; Renaissance, reformation and the birth of capitalism; the Enlightenment breakthrough and English capitalism; liberalism and Darwinism of the 19th century; the catastrophe of European culture and success of America of the 20th century.
Since about 1970 there is a growing scientific interest in the concept of happiness (or its measurable equivalent – subjective well-being
SWB). It is assumed that if augmenting happiness is assumed as the aim of social development, it can be assessed if real progress is being
made. It should replace traditional concept of GDP. Researchers like Richard Layard, Mark Anielski and Richard Easterlin use the concept of
happiness to mount a critique of contemporary free-market capitalism. They suggest that instead of consumption and competition,
governments should promote happiness, tightening interpersonal relationship, building social trust, timing strive for prestige. However other
researchers (Ruut Veenhoven, Betsey Sevenson and Justin Wolfers among others) defend economical growth as a foundation of every social
development. The discussion has a philosophical paradox in it – those how attack capitalism from a humanistic angle use a hedonistic and
selfish concept of subjective happiness while those who defend capitalism appeal to values that goes beyond it.
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