ABSTRACT
In this chapter, the author summarizes his understanding of William James' approach to moral philosophy. He then highlights its potential for helping business ethicists resolve some of the theoretical impasses that have plagued its development, particularly insofar as it is wedded to the academic conventions of "applied ethics”. Applied ethics may be regarded as one example of what James criticizes as the easy-going mood in ethics. If James' perspective is on track, then business leaders and entrepreneurs must recognize that business is not a game, but a morally serious adventure that plays an important role in humanity's progress toward ever more inclusive moral ideals. Innovation in business is never merely technical. Innovative risk-taking requires a delicate spiritual balance that, in James' view can best be sustained on the basis of faith. A critical engagement with James' perspective on business ethics might at least make it possible to achieve a better balance between the risk-averse and risk-taking tendencies.
