Entrepreneurial Stewardship: Why Some Profits Should Be Used to Benefit Others

Business Ethics Quarterly 30 (4):525-551 (2020)
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Abstract

ABSTRACTEntrepreneurs should act as stewards of entrepreneurial rent. Entrepreneurial rent is the difference between the ex post value of a venture and its ex ante costs. It is the result of competition among buyers and sellers within the market process rather than the sole efforts of the entrepreneur. As a result, entrepreneurs should allocate entrepreneurial rent for the benefit of other market participants rather than consuming it for themselves. The moral obligation to steward entrepreneurial rent is consistent with traditional bases of property rights and the norm of social welfare maximization, and it applies to corporations and their shareholders, as well as individual entrepreneurs.

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An inquiry into the nature and causes of the wealth of nations.Adam Smith - 1976 - Oxford University Press. Edited by R. H. Campbell, A. S. Skinner & W. B. Todd.
Anarchy, State, and Utopia.Robert Nozick - 1974 - Philosophy 52 (199):102-105.

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