Ethics for Capitalists (by Joseph Heath)

This book, "Ethics for Capitalists," is the Japanese translation of Ethics for Capitalists: A Systematic Approach to Business Ethics, Competition, and Market Failure. The author is Joseph Heath, a Canadian philosopher and professor at the University of Toronto. Among Heath's works, "Economics for People Who Hate Capitalism," "Following the Rules" (both published by NTT Publishing), "The Rebel Sell [New Edition]" (co-authored with Andrew Potter), and "Enlightenment 2.0 [New Edition]" (both published by Hayakawa Publishing) have already been translated and published in Japan. I was requested to translate this book by Mr. Toru Nagata, an editor at Keio University Press.

The author, Heath, is known for presenting a conception of business ethics (the so-called "market failure approach") that differs from conventional approaches to business ethics. This book systematically introduces this "market failure approach."

Heath argues that conventional approaches that apply everyday morality to the market economy cannot answer the specific questions that business ethics seeks to address (questions about the moral principles that guide the actions of economic agents in a capitalist economy).

They are Tateo Kishimoto, a city hall official who later served as the mayor of Nago, and Team Zoo (Atelier Zo), an architectural group that created many buildings that could be called "ancient avant-garde."

In the "market failure approach," it is argued that even if it is legal, economic agents should not exploit market defects in a way that undermines the functioning of the market. The author's arguments regarding the institutions of markets and corporations, and the moral responsibilities and behaviors that economic agents should fulfill in that context, are carefully developed from the perspectives of economics, ethics, and political philosophy. Also noteworthy is that Heath does not reject capitalism or the pursuit of profit out of hand.

While this book is more of an academic text among Heath's works, it will likely be interesting and useful not only to students of ethics and economics but also to managers and business people.

I cannot express enough gratitude to Professor Hirokazu Takizawa of Chuo University, who translated the aforementioned "Following the Rules" and also wrote the commentary for this book, for his precise points and advice during the translation process. This was my first time translating a work by Heath, and it was a highly educational and stimulating book for me as a translator.

It was surprising that such an era existed (even if only for a short time) in the town of Nago, before it was later plagued by deep divisions over the construction of the new Henoko base.

Ethics for Capitalists (by Joseph Heath)

Yoko Niwata (Translator)

Keio University Press

304 pages, 3,520 yen (tax included)