Chapter | Ethical Capitalism | 2017

Gapponshugi in Global Perspective: Debating the Responsibility of Capitalism

by G. Jones

Abstract

This chapter places the concepts of ethical capitalism developed by the 19th century Japanese venture capitalist Shibusawa Eiichi in a global historical perspective. The chapter reviews the similarities and differences over time and between countries of proponents of corporate responsibility, including Andrew Carnegie and Robert Anderson in the United States, Paul Rijkens in Europe, and Jamnalal Bajaj in India, as well as HBS Deans Wallace Donham and Donald David. It shows that there were quite different drivers that led business leaders to advocate corporate responsibility. Often strong religious and spiritual values were the principal justification, although Shibusawa Eiichi himself framed his arguments in secular terms. In the United States, fears of government intervention if business was perceived as acting badly also drove some to advocate corporate responsibility.

Keywords: corporate responsibility; Business ethics; business history; Ethics; Business and Stakeholder Relations; Business History; Corporate Social Responsibility and Impact;

Format: Print Find at Harvard

Citation:

Jones, G. "Gapponshugi in Global Perspective: Debating the Responsibility of Capitalism." Chap. 7 in Ethical Capitalism: Shibusawa Eiichi and Business Leadership in Global Perspective, edited by Patrick Fridenson and Takeo Kikkawa, 144–169. Toronto: University of Toronto Press, 2017.

About the Author

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Geoffrey G. Jones
Isidor Straus Professor of Business History
General Management

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