Legal Studies and Business Ethics Papers

Document Type

Journal Article

Date of this Version

2009

Publication Source

Journal of Business Ethics

Volume

88

Issue

Supplement 4

Start Page

659

Last Page

664

DOI

10.1007/s10551-009-0335-2

Abstract

The dynamic relationship between hypernorms and microsocial contracts can explain novel, evolutionary changes in economic life. The conceptual machinery of Integrative Social Contracts Theory (ISCT) can be expanded in order to understand dynamic moments in the evolution in economic life such as the economic crisis of 2008–2009. When a transition in the ethical interpretation of economic events occurs over time, it can be understood as a transition from the opaqueness of hypernorms to the relative clarity of microsocial contracts. This phenomenon deserves more study than it has received, and entails, at a minimum, the application of an enhanced, more dynamic interpretation of ISCT.

Copyright/Permission Statement

The final publication is available at Springer via http://dx.doi.org/10.1007/s10551-009-0335-2.

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Date Posted: 27 November 2017

This document has been peer reviewed.