Dialogue and Universalism

Volume 34, Issue 1, 2024

Ethics in Business

Anthony Chiwuba Ibe
Pages 95-112

Virtue Ethics Theory in the Market Place

Buying and selling are the most natural activities common to human beings. In a society where profit overrides personal dignity and human rights, many people see market as a virtue-free zone. They do not believe that one can buy and sell without dishonest gains. Consequently, they are ready to do anything in the name of business: manufacturing and selling fake and substandard goods and services for originals. Today, markets are flooded with fake medical drugs, fake foods, fake drinks/water, fake motor parts and fake building materials. Thus market exhibits exploitative and negative impacts on customer satisfaction. Its impact on human life and property leads to increased deaths because of poisoning, building collapses and even increased road accidents. Such market transaction lacks mutual benefit which is its telos. This paper seeks to establish that market is not a virtue-free zone. It has moral standards of excellence internal to it.