ABSTRACT
The chapter reflects on the various normative aspects of the economy and business. It critically discusses the ethical underpinnings of modern capitalism and the new ethical challenges of the economy of the 21st century. The chapter identifies and reflects on the various norms and values attached to the capitalist market economy and presents various types of criticism of capitalism from an ethical viewpoint. A particular focus is on the question of how we can define and realize business and the economy as positive forces in the 21st century. The chapter illustrates that the characteristics and new (ethical) challenges of the 21st century economy require a reconsideration of the ethical foundations of modern business.
