Abstract
In this paper we discuss institutional failure in upholding or enforcing moral values in highly developed countries and especially in France. First, we adopt the definition of institutions given by the regulationist school in economics (Boyer). This provides us with a hierarchical framework of regulatory components ranging from the constitutional order to conventions and habitus. Building on the distinction between moral (established rules)and ethical (rule producing) norms, we can then define the relevant moral and ethical institutions for the economic sector. This leads us to a definition of business ethics as that branch of economic ethics that is concerned with the specific subset of norms and rules that apply to companies and their behaviour. We then analyse the French case. Our main interest is in the process of institutional change. This is why we concentrate on the rule creating and rule adapting mechanisms rather than on the description of established rules. Taking a closer look at research in business ethics, the role of opinion leaders and finally the “secular principle”, we come to the conclusion that there are severe shortcomings in the ethical rule producing mechanism in France., In this paper we discuss institutional failure in upholding or enforcing moral values in highly developed countries and especially in France. First, we adopt the definition of institutions given by the regulationist school in economics (Boyer). This provides us with a hierarchical framework of regulatory components ranging from the constitutional order to conventions and habitus. Building on the distinction between moral (established rules)and ethical (rule producing) norms, we can then define the relevant moral and ethical institutions for the economic sector. This leads us to a definition of business ethics as that branch of economic ethics that is concerned with the specific subset of norms and rules that apply to companies and their behaviour. We then analyse the French case. Our main interest is in the process of institutional change. This is why we concentrate on the rule creating and rule adapting mechanisms rather than on the description of established rules. Taking a closer look at research in business ethics, the role of opinion leaders and finally the “secular principle”, we come to the conclusion that there are severe shortcomings in the ethical rule producing mechanism in France.