Abstract

Ignited in this and other countries by the rapid rise of the modem corporation to a position of strategic importance, both nationally and internationally, an intense debate continues today unabated. At the heart of the debate is a fundamental question: What role should the modern corporation play in a free society? And, as corporations become increasingly multinational, the fundamental question might more accurately be stated as a question about the role the multinational corporation should play in a free society, indeed, in the world. This question, I believe, should provide the orientation for research inquiries in Business Ethics and Business and Society.Within the business community in the U.S., two dominant responses to the fundamental question emerged quite early in the century, responses which have been characterized as the Classical and Managerial business ideologies. Approaching the 21st century, these remain the two major alternatives, reflecting not merely the competing ideological frameworks of the business community, but of the larger society in the U.S. as well. That these constitute the dominant alternatives is extremely regrettable, even dangerous, for, as I have argued elsewhere, both are seriously inadequate.