The Virtue of Business: How Markets Encourage Ethical Behavior (Report‪)‬

Introduction Newspapers, the media, the cinema, and the pulpit are filled with claims about the immorality and corruption inherent in market economies. Since the end of the Cold War, American businessmen have displaced the Russians as the primary bad guys in action films (Formaini 2001). Beliefs hostile to capitalism are troubling because they threaten the moral foundations of market economies and, in so doing, often distort the truth about market outcomes.