353© The Author(s) 2020D. G. Surdam, Business Ethics from Antiquity to the 19th Century, https://doi.org/10.1007/978-3-030-37165-4

Index1

1 Note: Page numbers followed by ‘n’ refer to notes.

AAbbasid empire, 161, 170Abend, Gabriel, 25, 259Abolitionists

belief of effective action, 346moral pioneers, 332

Abolition of slavery, 339, 345Abraham, 70

covenant, 70Accumulation of wealth, 101, 172,

206, 225, 239, 284Rome, 116, 119, 123, 135

Advertising, 3, 6, 54n4, 92, 227, 267, 285, 287, 288

Quaker attitudes toward, 285, 287, 288

Africa, 60, 84, 150, 175, 252, 291, 298, 300, 328–329, 331, 342, 343

Equatorial and Botswana; economic growth and business ethics, 33n4

Agents, 2, 29, 64, 118, 121, 122, 127–129, 132–133, 159, 163–166, 173–176, 198, 262, 271, 292, 341

Age of Tyrants, 90Agoranomoi, 102Agoranomos, 96Agriculturalists, 48Akerlof, George, 26, 121

market for lemons, 121Albert the Great, 183Alexander, 103Allah, 160–163

as merchant like, 160Alley, Hugh, 212

market manipulators, 212All My Sons, 2Allyn, Arthur C., 311n1Almsgiving, 69, 149, 163, 182Amalfitans, 318

slave trade, 318Ameche, Don, 110n11

354 INDEX

American Southcharacteristics of, 298efficiency of, 17natural rate of increase, 326Richard Hellie, 318; unique

aspects of, 326slaves, punishment of, 326

Amos, 74, 75Anatolia, 66Andaman Islander, 43Annona, 120, 121Anthropologists, 39, 40, 42, 47,

50, 269on primitive trade, 42

Antwerp, 250, 263n3formation of large companies, 250

AOL and Salary.com survey, 5Apollodorus, 107, 111n15

heirs, perils of wealth, 111n15Apprenticeship, 312n4Aquinas, Thomas, 181, 183, 185–187,

189, 190, 193, 194, 200n5, 209, 210, 221, 323

commutative justice, 185, 210; wealth and income, 185

defective products, 185distributive justice, 181, 185; wealth

and income, 181, 185just price, 181, 190merchants and profits, 190, 221, 222private property (ownership), 186social justice, 185usury, 189, 194, 200n5

Ariely, Dan, 19Aristotle, 10, 82–89, 91, 92, 96,

98–100, 109, 136n6, 183, 186, 189, 221, 321, 323, 341

attitude towards merchants, 84, 85, 96, 221

beneficial trade, 98enforcement of contracts, 96geometric proportion, 91

justice, 91, 92just price, 91–93merchants, 84–86, 91, 96, 221natural exchange, 98piracy, 83on profits, 98regulation of trade, 92, 98slavery, 82, 86, 323, 341utility maximization, 85wealth seeking, 100

Arkwright, Richard, 306, 307factory discipline, 306

Arnold, N. Scott, 34n17entrepreneurs, 34n17

Arrow, Kenneth, 33n1economic problems, effects upon

business ethics, 33n1Ashley, William, 125, 186, 194, 208,

209, 213–215, 218, 240market manipulators, regulations of,

213, 218, 240Assize of bread, 214–217

effect upon bakers, 215, 216Assur (Ashshur), 66Assyria, Assyrians, 60, 66, 68, 320

slavery, 320Asylia, 104Ateleia, 104Athens, 84, 86, 94–96, 99–102, 104,

106, 320, 326Attitudes to commerce, 31, 81,

282–285Attitudes towards the rich, 147Attitudes toward trade, 87,

117–119, 139Islamic, 157Muhammad, 157

Attitude toward merchants and traders, 157, 231

Attitude to workGreeks, 85Hesiod on, 86

355 INDEX

Augsburg, 244, 248Avarice, 126, 183, 189, 191,

225–226, 229, 233, 241, 274Avenbite of Inwyt, 190, 222

Ayenbite of Inwyt, 190, 222avarice, 191, 222depiction of usurers, 190

Aztec, 318, 322, 324, 346n4slavery, 318, 322, 324slaves manumission, 324

BBabylonians

business ethics, 57contractual slavery, 67debt relief, 73interest rates, 64labor, 58lending market, 66standardized weights and

measures, 66Bailey, Thomas, 301

indentured servitude, 301; depiction of, upward mobility, 301

Bakenranef, 72Bakr, Abu, 159Baldwin, John, 233

commerce, evolving attitudes toward, 233

Balinese, 24Balzac, Honore, 12n2Banfield, Edward, 33n12

Italy; lack of trust, effects of, 33n12Bankers, 2, 9, 96, 106–107, 111n14,

129–131, 170–172, 194–196, 230, 257, 284, 344

argentariae, 129cronyism, 106lending, 75, 106–107reputation for honesty, 24

Bank of England, 251

Banks, Curtis, 18Barach, Jeffrey, 24, 25, 51, 52Barbarus, 197Barclay, David, 292

slavery, opposition to, 292Bargaining, 50, 51, 94, 102, 146,

160, 184, 189, 212, 216, 226, 234n8, 342

deceptive tactics, 50Barnum, Phineas T., 9, 260, 263n8

The Art of Money Getting, 260ethical behavior, 9integrity, importance of, 260

Barrera, Albino, 62, 68–71, 76, 78n7, 148, 149, 151, 152, 155n4, 155n5

Jesus, people of wealth, 149, 155n5poor, lack of concern for, 68

Barter, 39, 43, 58, 60, 66, 77n1, 98prices, implicit, 77n1

Baxter, Richard, 259Bay’ al-gharar, 169Bazaar, 16, 162, 182

moral behavior, 162Bean, Richard, 329

victims of slavery, 329Becker, Gary, 19, 22

Rotten Kid theorem, 22Bekar, Cliff, 188, 191, 192, 200n3

loans for investment, 192phases of usury policies, 191usury, 188, 191, 200n3; social

policies, 191Bellamy, Ralph, 110n11Benet, Francisco, 50, 51

suqs and fairs, 50Berbers (of Morocco), 43, 50

markets, 50Bernstein, William, 48, 157, 158, 160,

161, 253Islamic trade, 157, 158, 160

Blake, William, 309dark Satanic mills, 309

356 INDEX

Blum, Ulrich, 242Max Weber’s Protestant ethic, 242

Blunt, John, 253, 257, 258speculation, 253

Boatright, John, 10Boine Broke, Jehan, 195, 201n11

usury, 201n11“Book-keeping,” 84, 93, 171,

252, 288Boston Associates, 344

abolitionists, unethical acts, 344Botticini, Maristella, 144, 145

Jewish propensity for trading, 144Boulton, Matthew, 270, 271, 277n4

marketing, 270, 271Russia, sales in, 277n4

Bourgeois values, 17Bradley, Ian, 283, 285–287, 289,

293n2Quaker characteristics; successful

businesses, 285Brazil

Angolan, 327; slave imports, 327Benin; slave imports, 327gold mines, slave labor, 327, 328slavery, 327–328; embezzlement, 328

Bread riots, 215, 233n2Civil War, America, 216, 233n2Edward (E.P.) Thompson, 216

Bribe(s)/bribery, 53, 72, 74, 97, 123, 141, 164, 250, 271

Themistocles, 96, 97British East India Company, 246,

250–252, 291Britnell, Richard, 212–214

price fixing, 212Bryant, William, 285

Quaker businessman; unethical actions, 285

Bubble Act of 1720barrier to entry, 257crony capitalism, 7

Margaret Patterson and David Reiffen, 256, 257

Ron Harris, 256–258Buckland, William, 119, 128

Roman legal system, 128Buckle, Henry, 242, 262n1

scotch divines, 262n1; bathing, admonitions against, 262n1

Buddha, 297labor relationship, 297

Buffet, Warren, 253Busama, 44Business, 15–33, 39, 57, 61, 81, 94–98,

115, 127–128, 139–141, 157–177, 181–200, 205, 239, 262, 271, 281–293, 296, 322, 351

definition, 15failure, analyzed, 284

Business ethics, 1–11, 15–33, 57, 81, 85, 94–98, 139, 157–177, 181–200, 231, 281–293, 330, 351

Quakers, 281–293; removal for ethical lapses, 283

Business success, 143, 281, 284Quaker, 281, 284

Buso villagers, 44Butler, Henry, 257

Bubble Act of 1720, 257

CCadbury, George, 285–288, 293,

293n2, 294n4company town, 287frugality, personal, 287labor unions, 286lifestyle, 287

Cadburysrefusal to supply troops, 286reputation, 287transfer of jobs to Poland, 293

Caesar, Julius, 123, 124, 150

357 INDEX

Cairo Geniza documents, 145Jews, 145literacy, 145

Calhoun, George, 77, 83, 91, 94–96, 100, 105–107

depiction of Greeks, 77, 94, 95honesty, prevalence of, 95profits and risks, 105seaborne trade, 105–106transformation from raiders to

traders, 83Calvin, Jean, 199, 218, 259, 323

Joseph and grain speculation, 218stewardship, 259on usury, 199

Cambium et recambium, 193Canada, 12n5

shoplifting, 12n5Capitalism

consequences of actions, 334Men of Principle, 334promise keeping, importance of, 334;

slavery, relationship with, 334rate of time preference, 334

Capitalist, 24, 90, 105, 165, 231, 261, 268, 297, 311, 325, 340, 344

Cappadocia, 66Carnegie, Andrew, 285–287

workers; attitude towards, 285, 287; lifestyle, lavish, 287

Carthaginians, 76–77, 135n5traders, reputation of, 77

Cartledge, Paul, 83, 84, 86Cato (the Elder), 117, 118, 122, 131,

346n3on lending, 128, 131on wealth, 122

Cato (the Younger)slaves, education of, 346n3

Cato, Marcus, 117, 118, 122, 128, 131, 346n3

Caveat emptor, 42, 115, 128, 139, 340

Caxton, William, 221Chaplin, Charlie, 310

labor, alienation of, 310Modern Times, 310

CharityJewish attitudes, 147–148, 150–152St. Augustine, 184

Charlemagne, 208, 229attitudes towards merchants, 208

Cheyne, George, 275Luxury, condemnation of, 275

Child, Josiah, 253speculator, 253

China, 109n2, 116, 161, 217grain market, 125traders, turned pirates, 109n2, 116

Chinese, Ch’ing, 324slaves, punishment of, 324

Chremata, 100, 110n3Christians, 85, 119, 120, 133–135,

139–154, 182–184, 194–197, 209, 211, 240–241, 323, 328, 336, 338, 341

serving Muslims, 145, 170Church, 120, 150, 152, 153, 177,

181–183, 187, 188, 190–198, 200, 200n3, 201n8, 201n9, 205–207, 229–231, 233, 239, 242, 245, 262n1, 295, 323

attitudes toward trade, 194, 205borrowers at interest, 200montes pietatis, ownership of, 198usury, economic motivations of,

188, 193Cicero, Marcus Tullius, 119, 123,

124, 127, 128, 131, 135n3attitudes toward traders, 118on occupations, 119reputation, 128

Cincinnatus, 131Cistercian Order, 228, 230

unethical behavior, 228

358 INDEX

Citizen, 18, 28, 29, 68, 81, 83, 85, 86, 90, 91, 93, 94, 97, 108, 116, 117, 119, 125, 131, 149, 321, 325, 343

Greeks aspiration for, 81, 85, 90, 93

Clark, Gregory, 304–306coercion theory, 305coordination theory, 305factory discipline, 304–306

Coase, Ronald, 30–31, 200n2property rights, 30–31, 200n2social cost, 30

Code of Justinianslave punishment, 324standing under the law, 324

Coen, Jan Pieterszoon, 252Comeuppance, 261Commenda

Kasanni on, 164profit seeking, 166prohibitions upon, 164, 166unlawful usury, 165

Commerce, 3, 4, 16–18, 31, 53, 57, 68, 76, 81–84, 87–90, 93–95, 101, 109, 115, 117, 118, 128, 134, 135n3, 139, 144, 148, 153, 155n8, 157, 159, 160, 181–184, 206, 207, 209, 221, 225, 229, 240, 241, 243, 245, 247, 282–285

Commutative justice, 185, 210Company town, 287

Cadbury, 287Compensation, forms of, 5, 59, 169,

176, 184, 189, 190, 248, 296labor, 184, 296, 297

Concubinage, 318Confucian, 25, 140, 141, 296

labor, attitudes toward, 296Confucius, 100, 101

Hsin, 140

values, 141on wealth, 100

Consumerismdesirability of, 271, 274John Kenneth Galbraith, 276Vance Packard, 271

Contracts, 24, 47, 58, 59, 61, 66, 67, 93, 96, 118, 119, 121, 122, 145, 153, 163–165, 168, 174, 187, 191–193, 242, 254, 259, 260, 290, 302, 303

of exchange, 192labor, 297–298

Contractual agreements, 163–166commenda, 163–166

Contractual slavery, 67, 320–321Babylonia, 67

Cooper, Gary, 300Crassus, 123Credit, 6, 19, 22, 23, 78n8, 105, 128,

131, 144, 159, 161, 162, 164, 167, 168, 170, 171, 188–191, 198, 206, 211, 223, 224, 232, 233, 243–244, 261, 320

dual meaning, 275Criminal behavior, 347n9

time preference, 347n9Crony capitalism, 7

Bubble Act of 1720, 7Crowley Iron Works, 310

labor, rules, 310Crown (British), 224, 227, 228, 250,

251, 260award of monopolies, 227, 251

Curculio, 130Currency, 39, 42, 45, 105,

107, 108, 111n14, 127, 168, 192, 260

debasement, 126Curule Aedile, 129Cyrus (of Persia), 58, 82, 94

attitude towards traders, 94

359 INDEX

DDahomey, 318Dalton, George, 44, 46

scarcity, disputed notion, 46Danko, William, 151

wealth, 151Darby, Abraham, 290Darius, 104D’Arms, John, 123, 124, 133, 135n3

Cicero, Marcus Tullius, 124, 135n3; attitudes toward traders, 135n3

wealth, pursuit of, 122Datini, Francesco di Marco, 231, 232Davis, David, 285, 292, 323, 339,

341, 347n11equality of men, 341Quaker characteristics; successful

businesses, 285Quaker hesitance to compare slavery

with free labor, 339slavery, 339, 341

Davis, James, 188, 190, 192, 211, 214, 215, 219–221, 223–228

guilds, 226–228; distorted view of, 226

just price, 211Davis, Jefferson, 327

slaves, treatment of, 327Davis, Joseph, 327De Beers, 277n3

cartel, product placement, 277n3De Mercado, Tomás, 221De Roover, Raymond, 184, 185, 187,

192, 193, 201n6, 209, 210, 222, 230, 231, 250, 263n3

Catholic edicts, effects of, 193just price, 209usury, 187, 193, 230

De Vries, Jan, 272–274, 276consumer demand for goods, 276industrious revolution, 272

Death of a Salesman, 2

DebtOld Testament, 72Quaker attitudes to, 283, 284seven-year forgiveness; Babylonia, 71

Debt peonage, 298Debt-bondage

economic advancement, 320Greek and Roman, 326

Deception, 6, 39, 50, 140, 142, 176, 201n9, 219, 252, 345

buyer’s responsibility, 140, 219Defective products, 185

Thomas Aquinas, 185Defoe, Daniel, 253, 255, 273

Essay upon Projects, 255industrious workers, 273stockjobbers, depiction of, 253, 255

Dellheim, Charles, 282, 286–288, 294n4

Cadburys, 294n4; paternalistic, social control, 294n4

DeMille, Cecil B., 300Demosthenes, 95, 103, 104

on speculators, 103Dennis, John, 275

condemnation of luxury, 275Deontological theories, 10Deuteronomy, 69–73, 78n6, 196,

318, 319slavery, 318, 319

Diocletiancurrency, 126; debased, 126price edict, 120

Diomedes, 92Dionysius, 108, 109Dionysodorus, 104Distributive justice, 152, 181, 185

theory of, 152Domat, Jean, 240

self-interest, 240Domenico, 231, 232Double coincidence of wants, 40, 98

360 INDEX

Double-entry accounting, 257importance of, 257

Douglass, Frederick, 346n5freedmen serving in military,

importance of, 346n5Dred Scott, 319Duanmu Ci, 101Dudley, Leonard, 242

Max Weber’s Protestant ethic, 242Duer, Colonel William, 260, 261,

263n9fate of, 260, 261, 263n9speculation, 260, 261, 263n9

Dutch East India Company, 251Dutch States General, 251Duties, 10, 25, 28, 33, 41, 57, 71, 77,

85, 89, 119, 132, 139, 143, 148, 154, 161, 173, 176, 184–186, 192, 222, 230, 243, 246, 259, 262, 317

EEa-nasir, 67Eckstein, Zvi, 144, 145

Jewish propensity for trading, 144Economic and moral development,

161–163Economic efficiency, 26, 94, 164Economic freedom, 259

poor, effects upon, 34n16Economics, 4, 15, 42, 65, 81, 117, 143,

158, 161–163, 182, 209, 239–241, 268, 281, 295, 317, 351

Economies of scale, 62, 108, 116Economists, 2, 9, 11, 17–19, 21, 22,

26, 30, 31, 33, 33n1, 33n3, 39, 42, 44, 46, 49, 58–61, 72, 76, 81, 85, 93, 102, 128, 133, 143, 144, 146, 149, 166, 167, 175, 181, 186, 188, 200, 200n2, 201n8, 213, 219, 221, 225, 227, 228, 242, 256, 268,

273, 296–298, 304, 305, 309, 321, 331, 332, 334

Edgar, 224regulation of trade, 224

Education, 6, 45, 46, 132, 133, 228, 242, 276, 292, 294n4, 322

Quaker attainment, 285, 286, 292Edward I, 192, 213

market manipulators, regulations of, 213

Edward the Confessor, 208usury, 208

Efficient economic, 31Egyptians, 9, 58, 59, 72, 172, 218Eli’sha, 60, 320Elites, 62, 82, 86, 88, 91, 115, 117,

118, 120, 129, 135, 159, 195, 207, 225, 241, 272, 281, 293, 318

attitudes toward trade, 91, 117, 135, 207, 225

disdain of petty traders, 225Romans, 115, 117, 118, 120, 135

Elstrott, John, 24, 25, 51, 52Employee embezzlement, 5Employees

theft, 5Employers, 3–5, 27, 59, 70, 132, 270,

281, 285–288, 295–299, 304–311, 312n3, 312n6, 325, 326, 337, 342, 343, 345, 351

deceit, 297theft, monitoring employees, 297

Emporoi, 88, 94, 102Emptio venditio, 128

legal protections, 128Enforcement of contracts, 96Engerman, Stanley, 295, 296, 298, 341

free labor, 296, 341labor, not independent, 296slavery, efficiency of, 341

England, 196, 199, 205, 230, 233n2, 243, 246, 250, 255, 261, 267–276, 283, 292, 301, 302, 305, 330, 333

361 INDEX

regulation of monopolies, 250–252state-sanctioned monopolies, 250–252Victorian misunderstanding of

London fog, 304English Malady—A Treatise of Nervous

Diseases, 275Enron, 3, 257Enslavement, 337Epictetus, 320Epimeletai, 96Eshnunna, laws of

debt relief, 67prices, 63taking the oath, 61

Ethics and tradeTertullian, 240

Ethics, changing, 8, 9, 317, 330, 346, 351

Etruscans, 84trading, 84

Eumaeus, 320Euryalos, 83Evan, William, 34n14

stakeholder theory, 34n14Eversley, David, 269, 270

industrialization, 270Ewing, J.R., 1, 12n1Exchange of gifts, 48, 297

prices, implicit, 42Externalized morals, 18Ezekiel, 71

sexual licentiousness, 74; trade, 74

FFable of the Bees, 274Factory discipline

Andrew Ure, 306coercion theory, 305coordination theory, 305Edward (E.P.) Thompson, 306George Stephenson, 307James Brindley, 307

James Watt, 307Josiah Wedgwood, 307–309Richard Arkwright, 306Stephen Marglin, 305wages, higher, 305, 306

Faeneratores, 131Fair, 298

price, 26, 96, 125, 146Fairness, 26–29, 96, 159, 160, 310

reciprocity, 32False balance, weights and measures, 74False weights and measures, 57, 74,

153, 223, 225, 226, 260Fan Li, 125

grain market, 125Fashion, 1, 23, 28, 118, 186,

269–271, 295, 325Fensham, Charles, 78n5

poor; ancient near East, attitudes towards, 78n5

Fieschi, Sinibaldo (Pope Innocent IV), 189

Finley, Moses, 82, 85, 87, 89, 92, 93, 101–104, 108, 116, 118, 120, 123, 133, 320, 326

Aristotle, 87, 92; on justice, 91, 92slavery, Greek and Roman, 320speculation, 101–104thetes, 326

FirearmsQuaker opposition, 290Samuel Galton (the younger), 290

Fixed retail prices, 51Fogel, Robert, 332, 333, 340–346

abolitionists; dilemma and paradox, 345; political realities, 345; triumph of, 346

slavery, efficiency of, 341; free labor, compared with, 341, 344

slavery, modern indictment of, 341; citizenship rights, lack of, 341; cultural self-identification, lack of, 341; previous attitudes, 343

362 INDEX

Food, 9, 45, 48, 50, 69, 72, 74, 82, 86, 101, 103, 106, 109, 125, 141, 143, 168, 211, 212, 216, 220, 223, 224, 247, 269, 275, 287, 290, 292, 308, 312n7, 320, 325, 327, 329

prices, 211Foodstuffs

scarcity, 102storage, difficulties of, 48

Forbes, John Murray, 344Ford, John, 268Fort, Timothy, 17, 20, 21, 47, 167

Good Trust, 20laughter, 47

Fox, George, 281, 282Frankel, Tamar, 4, 18–21

trust but verify, 19, 20Franklin, Benjamin, 22, 243, 244,

259, 260business virtue, 22on credit, 22, 243, 244thrift, 258, 260

Fraud, 4–6, 11, 12n5, 16, 41, 92, 96, 119, 140, 152, 153, 169, 183, 184, 186, 205, 209, 210, 218, 220, 226, 245, 249, 252, 253, 255, 261, 263n5

St. Ambrose, 153Free labor compared with slave labor

Charles Fourier, 339Friedrich Engels, 325, 339Karl Marx, 339Robert Owen, 339

Freeman, R. Edward, 28, 29stakeholder theory, 28

Frey, Donald, 34n15, 259, 292profits, maximizing, 34n15

Friedman, Daniel, 16–18, 24, 26, 33n4, 106, 243

lending, 106–107Friedman, Milton, 29–30, 33

social responsibility, 29

Fry, Joseph Storrs, 287, 288advertising, attitudes toward, 287, 288

Fudge factor theory, 19Fugitive Slave Act, 319Al-Furat, Ibn, 171, 172

use of Jews as officials, 171Futures exchanges, 255

GGalbraith, John Kenneth, 271, 276

consumerism, criticism of, 276demand, creation of, 271, 276

Galton, Samuel (the elder.), 290, 291Galton, Samuel (the younger), 290, 291

Africa, gun sales, 290, 291firearm manufacturing, 290

El-Gamal, Mahmoud, 159, 167–170gharar, 167, 170riba, 167, 168, 170

General Motors, 309Genovese, Kitty, 12n6George Fox

on status, 282trade, attitude toward, 282–285

Geremek, Bronislaw, 192, 299peasants, 299

Germany, 135n1, 144war booty, 135n1

Germ theory, 8, 332Gharar, 167, 169–170, 177n3

sales, 169; legality of, 169Giardina, Andrea, 119, 120Gifts, 26, 39, 42–44, 48, 49, 52, 53,

54n8, 65, 81, 98, 104, 134, 141, 148, 149, 153, 199, 229, 250, 259, 269, 282, 297, 298, 322

Gilchrist, John, 190, 196, 198, 200n4, 229, 230

loans, gratuitous, 200n4Popes, 189, 196, 229, 230;

unethical behavior, 229usury laws, changes in, 198

363 INDEX

Giles of Lessines, 200n5usury, natural law, 200n5

Ginger, Ray, 301indentured servitude, 301;

depiction of, 301Giuseppe Baretti, 276

English consumers, 276Glaukos, 92Goddard, Paulette, 300The Godfather, 2Godric (of Finchale), 206, 207Goitein, Shelomo, 161, 170,

173–177, 200n1Cairo Geniza documents, 173Jewish merchants, 173reputation effects, 173sellers, revealing defects, 185slavery, 174

Golden Rule, 24–26, 32, 47, 51, 70, 199, 209, 210, 218, 282, 333, 336

exchange, 47just price, 209, 210reciprocity in gift giving, 24role of money, 51slavery, 336

Goodin, Robert, 4Goodwill Industries, 7Governments, 3, 5–7, 24, 29, 30, 57,

58, 62–65, 68, 70, 75, 77, 99, 105, 108, 109, 117, 121, 122, 124, 125, 135, 135n2, 163, 164, 174, 193, 194, 196, 197, 199, 200, 208, 215, 217, 242, 246–252, 255, 257, 260, 261, 270, 276, 284, 290, 292, 299, 302, 318, 328, 342, 344, 345

justice, 62mons pietatis, 197protection, 6, 62, 299role in defining property rights, 30

Gower, John, 225negotiating, 225; ehics,

diminishing, 225

Grain, 48, 49, 58–60, 63, 67, 69, 70, 72–74, 84, 88, 90, 94, 96, 101–104, 111n12, 117, 120–122, 125, 187, 210–212, 215–218, 224

chicanery in trade of, 6, 16, 152, 215, 223, 256, 344

Plato on, 102prices, 58, 59, 101, 103, 104, 121,

125, 187, 210–212, 216, 218supply-demand, 42, 102

Gras, Norman, 220ethics of merchants, 220

Greeksattitude toward business, 1, 8, 10,

76, 81, 88, 94–109, 127, 128, 130, 181, 207

attitude to work, 81, 85–87banking, 96, 106–107, 130piracy, 84raiders, 83, 109reputation as traders, 94, 96slavery, 82, 86, 109traders and merchants, 83, 86,

90–91, 93, 95, 103, 107, 108Gregorius of Nissa, 119

attitude to trade, 120Gregory I, 229

simony, 229Gresham, Sir Thomas, 263n3

currency, manipulation of, 263n3Guilds (gilds), 65, 127, 224,

226–228barriers to entry, 226, 227competition, 227, 228craft, 226–228James Davis, distorted views

of, 226medieval, 226monopolies, 227quality control, 227, 228regulation of members,

65, 127, 228

364 INDEX

HHadrian, 132Hamilton, Alexander, 260, 261,

263n10Hammurabi Code, 59, 61, 63, 64, 67,

68, 70, 71, 168, 320apprentices, 59contracts, 67debt, 320prices, 64private property, 64role of deities, 61slavery, 59transaction costs, 70usury, 71, 168wages, regulation of, 63weights and measures, 66, 70

Hanafi law, 165Haney, Craig, 18Harding, Thomas, 50Harrah, Charles, 310Harris, Ron, 256–258

Bubble Act of 1720, 256–258Harun, Abu Nasr, 172

advisor to officials, 172honesty, 172

Hasebroek, Johannes, 85–87, 90, 91, 93, 94, 105, 108, 109, 110n4

Greeks; middlemen, 90traders, 90, 93, 105, 110n4; small,

ignorance about, 110n4Haskell, Thomas, 333–337, 339, 340

abolitionists, motivations of, 335, 337; belief of effective action, 340; capitalism and pre- conditions, 334

David Davis, rebuts, 339John Woolman, 335, 337laissez faire capitalism, 340; greed, 340markets, 333, 340;

social discipline, 340Quakers and abolitionism, why, 339

Hausman, Daniel, 24, 26, 298wages, fairness of, 298

Hay, Donald, 30, 319Hayek, Friedrich von, 21, 31, 276n1

poor, relative well-being of, 276n1Hebrews, 142, 143, 145, 171, 318,

319, 322, 324benefits of moral life, 142, 143

Hegel, 341slavery, paradox of, 341

Heichelheim, Fritz, 60, 64, 65, 84Hekanakht, 59Hellie, Richard, 299, 318, 322,

324–326, 329manumission, 322serfdom, differences from slavery, 299slaves, punishment of, 322, 324

Henaff, Marcel, 52, 54n7Henry III, 213

market manipulators, 213Henry VIII, 188Hermes, 84Herodotus, 58, 82, 97, 110n3

allegations against Themistocles, 97on markets, 58

Hesiod, 86, 100on greed, 86, 100on work, 86

Hewitt, Margaret, 304factory labor compared with other

labor, 304Hezekiah, 69, 70Hicks, John, 321

slavery, compared with free labor, 321Hillel, 73

Prosbol, 73Hirschman, Albert, 9Hobbes, Thomas, 3, 338Hochstetter, Ambrosius, 248, 249

speculator, 248, 249Homeric Greeks, 83, 95

Phoenicians, attitudes toward, 76

365 INDEX

Honest/honesty, 2, 3, 5, 10, 16, 19, 21–24, 45, 50, 57, 60, 76, 95, 96, 105, 108, 111n14, 121, 123, 124, 128, 140–142, 159, 160, 171–173, 175–177, 183, 184, 214, 221, 223, 224, 260, 261, 283, 297, 305, 339, 343

false weights and measures, 57Jewish advisor, 172regulations, 21reputation, 175, 214, 221, 223,

224; slander, 223and integrity, 4, 24; transaction

costs, 24Horace, 87, 123Hsin, 140, 141Hume, David, 11Hunter-gatherers, 9, 48, 63Hymn to Apollo, 84

IIbrahim, Abu Sa’d, 172, 173

advisor to officials, 172honesty, 172

icero, Marcus Tullius, 128Iliad, 92Immigrants, 301–303, 339, 343, 344

Chinese, 23Impressment, 325Inan (limited investment

partnership), 165Incomes, 6, 18, 86, 89, 90, 124, 128,

148, 192, 200n3, 234n10, 250, 255, 267, 268, 270, 273, 297, 298, 312n2

guaranteed minimum, drawbacks of, 200n3

India, 60, 168, 251, 274, 329, 330textile manufacturing, 312n6

Information, 5, 7, 31–32, 42, 44, 50, 59, 60, 64, 88, 93, 94, 100, 103,

121, 127, 129, 146, 147, 169, 176, 185, 213, 217, 242, 254, 255, 257, 261, 283, 334

cost of, 42, 60ethics of, 31on grain, 121lack of, 42, 94

Insurance, 18, 45, 49, 65, 67, 72, 104, 134, 169, 170, 187, 195, 217, 249–253, 255, 256, 263n5

Daniel Defoe; Essay upon Projects, 255Exchange Alley (London), 256frauds, 255, 263n5in-kind, 63Jonathan’s (coffee houses), 255Lloyd’s of London, 255Royal Exchange (London), 256

Insurance companies, 18, 263n5failure of, 263n5; actuarially-sound

principles, lack of, 263n5Insurance Research Council, 18–19Integrity, 45, 70, 107, 142, 143, 173,

228, 283, 333, 345Intellectual theft, 308

workers, 308Interest rates, 64, 66, 72, 73,

87, 105, 130, 131, 147, 166, 168, 170, 191, 193, 195, 200, 233

Babylonia, 64International Fraud Report

of KPMG, 4International trade, 83, 88, 102, 116,

120, 122, 126, 170–173, 183, 195, 206, 221, 240, 241, 247, 249, 351

capital requirements, 249and wealth, 120

Isa, Ali b., 171forced loans upon Jews, 171

Isaiah, 74, 210

366 INDEX

Islam, 16, 21, 141, 157–177, 328, 329attitude toward finance, 162attitude toward merchants, 157attitudes toward wealth, 163, 171,

172, 177, 318, 324credit sales, 162, 168, 170monopolies, 162slavery, 328; insider/outsider, 318

Isocrates, 107Israelites, 25, 57, 68, 70–75, 77,

77n2, 196Golden Rule, 25, 70poverty, 71, 75, 77

JJacobs, Jane, 3, 8, 16Japan, 243

attitudes toward business, 243labor, 296; lifetime employment, 298pirates, 135n2textile manufacturers, technological

change, 312n6Za, guilds, 234n10

Jefferson, Thomas, 261, 263n10international debt, 261national bank, 261political trickery, 261, 263n10

Jehoiakim, 75tyrant, nasty, 78n9

Jensen, Richard, 330–332trans-Atlantic salve trade, 330;

mortality rates, reasons for, 330, 331

Jeremiah, 74, 75, 319, 320corrupt kings, 75

Jesus, 25, 148, 149, 152, 155n5, 158, 159, 282

money changers, 152Jewish, 8, 9, 23, 68, 73, 85, 139–154,

157, 159, 167, 170, 172–175, 177, 195–198, 230, 242, 296, 319

attitudes toward, labor rights, 139–154

Jewish propensity for trading, 144–145

Jews, 23, 139–141, 144, 145, 148, 154, 166, 170, 171, 192, 194, 196, 197, 201n11

Amram, Aaron b., 170, 171banishment of, 196eviction of, 192, 198Joseph b. Phineas, 170, 171lenders, 145, 196–197Lester Little, 196, 197merchants, 23, 144, 197; trusted

agents, 23, 173Peter the Venerable, 196pogroms, 196serving Muslims, 170

[John] Barnard’s Act of 1733, 253Johnson, Samuel, 17, 325

slavery compared with sailors, 325Johnston, David, 119, 129, 130, 132

Rome; legal system, 129; slaves’ standing, 129; warranties, 129

Jones, Eric, 271–273workers, British, 273

Joseph (Old Testament), 218, 219, 234n5

Pharaoh, adviser to, 218; insider trading, 234n5

Judaismattitudes toward business, 142emphasis on learning moral

teachings, 144Jus mercatorum, 207Justice

in exchange, 62, 91, 92geometric proportion, 91social, 161, 185

Justinian, 324Usury, 130

Just price, 81, 85, 91–93, 102, 103, 146–147, 181, 190, 205, 208–211, 233

Aegidius Lessinus, 210

367 INDEX

dual responsibility, 210food prices, 211Golden Rule, 209, 210information about, 146, 176, 213Jacob Viner, 209Johannes Nider, 209, 210Leonardus Lessius, 209Mishna, 146, 147Raymond De Roover, 209regulation of, 209, 214, 233Talmudic concept, 146Thomas Aquinas, 181, 190Xenophon on, 102

Juvenal, 120, 123on greed, 123

KKafur, 172

use of Jews as advisors, 172Kahneman, Daniel, 26–28, 147, 234n8

bargaining, deceptive tactics, 234n8Kant, Immanuel, 8, 10, 25, 28, 142,

262, 311moral dimension of ethics, 142

Kapauku, 50Kasanni, 164

on commenda, 164Kay, Philip, 116–118, 130, 131

bankers, 130Keegan, John, 347n6

labor, 347n6; british navy, harshness of, 347n6

Kennedy, David, 301indentured servitude, 301; depiction

of, upward mobility, 301Keynes, John Maynard, 18Killis, Ya’qub b., 172

advisor to officials, 172reputation for honesty, 172

King Ferdinand, 249King Jehoiakim, 75, 78n9King Monobaz, 147

Kirschner, Julius, 200n6Kleiman, Ephraim, 146, 147, 154n2

just price, 146prices, undercutting, 146

Kleomenes, 103corruption, 103

Knetsch, Jack, 147Knight, Frank, 31, 32, 46, 340, 347n12

liberalism and ethics, 340, 347n12liberalism, social-ethical principle of,

340, 347n12scarcity, 46

Knowledge, 31, 48, 54n7, 60, 61, 75, 94, 98, 99, 101, 103, 104, 110n4, 129, 140, 164, 172, 218, 220, 308, 332

Kohlberg, Lawrence, 33n6Kowaleski, Maryanne, 223

medieval petty cheats, 223

LLabib, Subhi, 166, 167

on interest, 166Labor, 43, 59, 63, 64, 67, 72, 73,

81, 82, 85, 86, 99, 100, 116, 119–120, 132–133, 135, 153, 163, 164, 184, 190, 197, 219, 226, 252, 267, 273, 274, 281, 283, 286–288, 293, 295–311, 317, 321, 322, 325–326, 329, 330, 337–339, 341–346

Babylonia, 58coercion theory, 305coordination theory, 305forms of; debt peonage, 298; free,

82, 132, 296, 299, 304–306, 321, 325–326, 338, 339, 341–345; indentured servitude, 295, 300–302; industrial workers, 273; peasants, 63, 190, 299, 303; serfdom, 295, 299; sharecropping, 302–303

368 INDEX

Labor (cont.)not independent, 342object as, 296, 299property rights, 295reciprocity, 296rights, 296

Labor rights, 295, 325Labor unions, 226, 286

Andrew Carnegie, attitudes toward, 285, 287

Quaker attitudes toward, 286Labor, free

citizenship rights, lack of, 342punishment of, 325

Lagid rulers, 63Landes, David, 310, 311, 312n10

Marglin argument, rebutted, 312n10

Landowners, 59, 69, 77, 81, 85, 88–90, 99, 101, 115, 116, 118, 125, 126, 187, 188, 232, 274, 298–304

advantages of, 301, 303, 304labor, need for, 298Xenophon, 81, 89, 90

Lang, Fritz, 310labor, alienation of, 310Metropolis, 310

Langland, William, 220ethics of merchants, 220, 221

Laodamas, 83Lapin, Rabbi Daniel, 143, 144

Jewish attitudes toward wealth, 143, 144

Lapo, 231, 232spiritual seeker, 231, 232

Laurium mines, 99Legal system, 17, 31, 175, 207

Rome, 118, 121, 129; and trade, 118Legislators, 1, 7, 27, 96, 103, 115,

123, 130, 131, 256, 261, 263n10, 346

Leitourgia, 104

Lending, 23, 57, 66, 69, 72, 75, 86, 87, 94, 106–107, 130, 131, 144, 145, 154n3, 157, 161, 166, 168, 170, 171, 181, 188, 189, 191, 192, 195, 197, 199, 200

cronyism, 106Jews, 144, 145, 157market, Babylonia, 66to rulers, 166

Lessinus, Aegidius, 210just price, 210

Lessius, Leonardus, 209just price, 209

Letters of marque, 247, 289, 290Levitt, Steven, 6, 12n6, 78n8

loans, forgiveness, 78n8Levy, Jean-Philippe, 63, 67, 77,

78n10, 87, 90, 96, 103, 106, 117, 118, 124, 128, 130

carthage, 77Phoenicians, compared with the

Dutch, 78n10Lex Claudia, 118Libanius, 183

seaborne commerce, 183; benefits of, 183

Lichter, Lindatelevision, 5; portrayal of business

ethics, 12n1Lichter, S. Robert

television, 5; portrayal of business ethics, 12n1

Lifestyles, 63, 91, 206, 269, 275, 281, 285, 336

Quaker, modest, 287Lincoln Electric Company, 25

Golden Rule, 25Little, Lester, 184, 187, 189–191, 194,

196, 197, 200n5, 206, 208, 229Jewish lenders, 196merchants, 184, 196, 206usury, 194

Lloyd’s of London, 255

369 INDEX

Loans, 1, 59, 61–63, 66, 70–73, 75, 78n8, 85, 87, 93, 105–108, 123, 128–131, 134, 141, 145, 150, 160, 166–169, 171, 176, 177, 181, 187–200, 230, 233, 249–251, 255, 259, 260, 284, 290, 320

consumption, 62, 71–73, 169, 187, 188, 191, 198

gratuitous, 187, 200n4investment, 71, 189, 192Medici, 194, 195pawnshops, 197poor, 72, 75, 169, 199, 260

Locke, John, 338slaves, right to resist, 338

Lombards, 197usury laws, 198

London Stock Exchange, 253Lopez, Robert, 157, 158, 183, 187,

189, 190, 192, 193, 197, 201n11, 208, 227

Boine Broke, usurer, 201n11moneylenders, 190, 192trader as hero, 157

Louis XIV, 269consumption, 268

Lucrum cessans (profit ceasing), 190Luther, Martin, 229, 241, 323

Catholic church, corruption in, 229, 241

criticism of monasteries, 229Luxury goods, 65, 163, 182, 268, 274Lysias, 103

corruption in grain market, 103

MMadoff, Bernard, 1, 96Maghribi traders, 175

mutual trust, 175Maimonides, 140

deception, 140, 142slavery, 174

truth in advertising, 140usury, 168

Malikisgovernment officials’ corruption, 164on usury, 165

Malthus, Thomas, 269Malynes, Gerard, 255

insurance frauds, 255Mandeville, Bernard, 274

consumerism, desirability of, 274Manumission, 133, 292, 322, 328,

346n4Aztecs, 322, 346n4Islamic societies, 322Richard Hellie, 322

Marcoux, Alexei, 15, 16Marginal benefits, 10, 11, 19Marginal costs, 11, 19Marglin, Stephen, 305, 306, 310, 311,

312n10factory discipline, 305labor, 310; capitalist

exploitation of, 311owners, indispensability, 312n10

Market places, 58Market traders, 211

benefits and disadvantages, 211Marketing

Josiah Wedgwood, 269–271, 276Matthew Boulton, 270, 271

Marketplaces, 1, 16, 18, 50, 51, 58, 60, 82, 142, 211, 214, 225, 228, 340

Markets, 3, 17, 43, 58, 81, 116, 143, 161, 182, 205–233, 240, 269, 297, 318

trust, 19Marseilles, 182Marx, Karl, 22, 310, 311, 339

labor, specialization of, 310Mather, Cotton, 259, 260, 263n7

good works and worldly wealth, 259wealth-seeking, admonition against,

259, 263n7

370 INDEX

May, Francis, 285Quaker businessman, unethical

actions, 285McCloskey, Deirdre, 33n3McCracken, Grant, 268, 269

consumerism, 268McKendrick, Neil, 269–274, 307–309

consumer revolution, 269Josiah Wedgwood, 269, 270, 272,

308; factory discipline, 308McNair, Arnold D., 119, 128

Roman legal system, 128McNeill, Daniel, 16–18, 24, 26,

106, 243lending, 106–107

McPherson, Michael, 24, 26, 298wages, fairness of, 298

MeccaHajj, 158, 161trading center, 161

Medici, 194, 195loans, 194, 195

Meeks, Douglas, 46, 219, 297Joseph and grain speculation, 219labor, 219, 297; vulnerability, 297scarcity, 46

Mel, Brooks, 263n4The Producers, 263n4; fraudulent

investment, depiction of, 263n4Menelaus, 84, 109n1Merchants, 9, 18, 23, 58, 60, 62, 65,

83, 87, 90–91, 93–94, 108, 118, 119, 121, 122, 140, 144–145, 152–154, 157, 158, 162, 170, 173, 176, 182, 184, 189, 195, 205–208, 220, 240, 247, 267, 283, 298, 336

agents, 64, 121, 122, 127, 129, 174–176, 198

guilds, 65Norman Gras, ethics of, 220St. Augustine, 150, 152–154;

attitude toward, 152–154San Bernardino, 184

scholastics attitude toward, 183, 184, 199, 221

unethical practices, 154, 176, 226, 231, 246, 247

Merovingian, 182Mesopotamians, 59Metronomoi, 102Michell, Humfrey, 83, 85, 91, 103,

104, 109, 109n1, 110n7, 111n12, 111n14, 152

bankers; Greek, honesty of, 111n14fishmongers, 110n7; ethics,

lack of, 110n7Homeric heroes, boastfulness, 83

Middlemen, 66, 84, 90, 92, 119, 211, 215, 221, 222, 230

dislike of, 119Midrash, 74

sexual depravity, 74Migeotte, Leopold, 84, 85, 88, 96,

103, 104, 110n6business participants, 110n6;

pioneers of writing, 110n6Military conquest, 116, 135

benefit of, 117Mill, John Stuart, 8, 17, 22Miller, Arthur, 2Miller, Stanley, 232, 233Mishna, 146, 147

fraudulent trading, 147Moller, Astrid, 93, 94, 102

prices, grain markets, 94, 102Monasteries

Cistercian Order, 228, 230Martin Luther; criticism of, 229St. Bernard, 228wealth-holding, 150, 229

Money changers, 61, 106–108, 111n14, 152

Money changing, 106, 152Monopolies, 61, 63, 77, 99, 108, 109,

111n12, 162, 171, 209, 210, 214, 218, 226, 227, 249–252, 255, 263n3, 271, 324

371 INDEX

England, 250–252, 271guilds as, 226, 227Islamic attitudes, 162

Mons pietatis, 197Montesquieu, 338

slavery, 338Montgomery, Ben, 327Monti di pieta, 191, 198Moral dimensions of ethics, 142Morel, Jean-Paul, 135n1

Rome, robber capitalism, 135n1Morgan, Edmund, 322

manumission, as gift exchange, 322Morton, Richard, 275Mufawada (unlimited investment

partnership), 165Muhammad

attitude toward trade, 157property rights, 162settling of good and bad deeds, 159trader, 157, 158

Murphy, Eddie, 110n11Mutual consent, 159

NNational Retail Federation’s 2014

Return Fraud Survey, 6Natural exchange, 98

Aristotle on, 98Naukleroi, 88, 94Neal, Larry, 258

South Sea Bubble, 258Negotiating/haggling, 1, 4, 49, 102,

219, 233n1, 234n6Nelson, Benjamin, 194–196, 198,

199, 201n11, 231usury; philanthropy, 195

Network, 53, 57, 84, 123, 127, 135, 145, 148, 173, 242, 283, 284

co-religionists, 283New Testament

attitudes toward the rich, 148, 151ethics, 57

voluntary divestment of wealth, 151Nicole, Pierre, 240

self-interest, 240Nicolet, Claude, 83, 117Nider, Johannes, 209, 210, 220, 222

just price, 209, 210; dual responsibility, 210

profits, justification of, 222Nietzsche, Friedrich, 39, 40, 333, 335

on prices, 39promise keeping, 333

Nomadic groups, 48Nomlaki culture, 43Non-profit institutions, 7Norsemen, 244North, Douglass, 44, 45, 62, 65

compliance, costs of, 65costs of exchange, 44government; comparative advantage

in violence, 65property rights; exclusion, 65

Nozick, Robert, 152theory of distributive justice, 152

OOdysseus, 76, 83, 109n1, 320Odyssey, 76, 84, 85Offer, Avner, 52, 53, 54n8

role of money, 53Soviet Union, 53

Officials, 5–7, 9, 50, 57, 58, 60, 75, 96, 101, 102, 107, 109, 110n7, 110n11, 116, 121, 122, 141, 163, 164, 170, 171, 188, 192, 193, 195, 197–199, 205, 208, 211–213, 224, 229, 246, 248, 257, 327

corruption of, 7, 212Old Testaments

debt forgiveness, 73workers, 70

Omobono of Cremona, 208merchant, 208

372 INDEX

Opportunistic behavior, 32, 41, 44, 49, 53, 65, 111n13, 169, 205

repeated transactions as deterrent, 53, 65

Opportunity cost, 23, 29, 42, 85, 127, 146, 154, 168, 176, 186, 189, 190

Osaka rice market, 254, 255Osborne, Robin, 99, 103

PPacific coast, 318

slavery, 318Pacifism, 282

Quaker attitude towards, 282Packard, Vance, 271, 276

consumerism, criticism of, 276demand, creation of, 271, 276

Palagi, Rabbi Chaim, 142three questions, 142

Pamphilus, 104Parmeniscus, 104Partnership

Inan, 165Mufawada, 165prohibition of non-Muslims, 165

Pasion, 107, 320upward-mobile slave, 107, 320

Pastoralists, 48, 77n2Patterson, Margaret, 250, 251, 256,

257, 263n4Bubble Act of 1720, 256

Paul, Apostle, 150, 151, 154, 155n5, 186

labor, 150Onesimus, 319Philemon, 319slavery, attitude to, 319

Pawnshop, 191, 194, 197–199Peasants, 62, 63, 69, 187, 189, 190,

206, 207, 268, 299, 303, 304bad harvests, 187

Pease, Edward, 284Peculium, 119, 133, 135, 321, 322

Pelagians, 150charity, 150

Pemberton, James, 327Penance, 242

effects on business ethics, 242Penney, James C., 25, 26Peter the Venerable, 196

Jewish lenders, animus toward, 196Petronius

Satyricon, 321Trimalchio, 321

Pharaoh, 63Philanthropy, 134, 195, 282, 284

Quaker, 282, 284usury, 195

Philemonslavery, Jewish attitudes toward, 319

Phoenicians, 76–77, 78n10, 84trading, 76, 84

Phormion, 107banking, 107

Piepowdrous, 207Pinchbeck, Ivy, 304

factory labor compared with other labor, 304

Piracy, 8, 78n10, 83, 84, 105, 109n1, 109–110n2, 116, 117, 135n2, 288

Aristotle on, 83Roman attitudes, 84, 116

Pirates, 82–85, 109, 109n1, 109n2, 116, 121, 157, 248, 338

cheated, 82, 248Japan, 135n2

Pirenne, Henri, 182, 206–208early merchants, 182, 207

Plato, 86, 89, 91, 92, 97, 98, 102, 120, 323

attitude toward merchants, 86, 91importance of middlemen, 92supply and demand in grain market,

101, 102Plaut, W. Gunther, 69, 73–75, 319Plautus, 130

bankers, 130

373 INDEX

Plebiscitum Claudianum, 135n4Plumb, John, 258, 270

consumer demand, 270South Sea Bubble, 258

Plutarch, 86, 91, 97, 98, 124Poena conventionalis, 189, 190

legality of, 190Poitras, Geoffrey, 193, 197, 199, 200,

200n5, 248, 251–256, 258Calvin on usury, 199South Sea Company (SSC), 256

Polanyi, Karl, 58, 66, 78n4, 82, 92, 93, 102, 110n5

Aristotle; beneficial trade, 92, 98; just price, 92

on Assyrian merchants, 66Greek hucksters, satirists,

102, 110n5on markets, 58professional traders, 78n4on scarcity, 82supply and demand in grain

market, 102Polybius, 122, 135n5

Carthaginians, ethics of, 135n5wealth, pursuit of, 122

Pompey, 116, 128Poor/poverty, 75

attitudes toward, 218, 259Brown, Peter; charity, 134;

status, 134charity, 133

Pope Innocent III, 193, 208usury, enforcement, 193

Pope Nicholas V, 196Jews lending at interest, 196

Pope Pius II, 229papal cartels, 229unethical behavior, 229

Porter, Roy, 4, 275, 276, 277n8, 304, 312n4

consumer demand for goods, 276Posner, Eric, 200n3, 275

Posner, Richard, 42, 44, 49, 54n6, 72primitive, definition of, 42

Price controls, 27, 64, 125–127, 200, 214

effects of, 126Price-fixing, 96, 102, 109, 126

Xenophon on, 102Prices, 2, 23, 39, 58, 81, 117,

143, 159, 181, 206, 240, 271, 285, 330

Code of Hammurabi, 64determination of, 102, 213fixing of, 51, 61, 63, 96, 102, 103,

109, 126, 212future, and speculation, 110n11,

168, 213, 261laws concerning, 103, 125,

126, 214Laws of Eshnunna, 63

Primitive people, 39–42, 45–47, 53, 54, 77, 351

definition of, 9Principal-agent, 122, 133

slaves, 133Privateering, 247, 248, 290

ethics of, 247, 248Private-order enforcement

networks, 127product quality, 127

Private ownership (property), 186Thomas Aquinas, 186

Private property, 29, 30, 64, 152, 183, 187, 323, 337

Hammurabi’s code, 64Thomas Aquinas attitudes toward,

183, 186Proclus, trading activities, 136n7Product placement, 270, 277n3Product quality, 6, 31, 228, 283,

285, 311guarantees of, 283laws concerning, 214Quaker concern, 285

374 INDEX

Profits, 5, 6, 15, 16, 19, 27–29, 32, 34n15, 42, 50, 54n6, 58–61, 64, 66, 69, 75, 77, 81, 83, 84, 90, 91, 97–99, 102, 103, 109, 110n11, 115, 116, 118, 119, 122, 123, 130, 133, 135n5, 148, 157, 161–167, 184, 186, 190, 195, 196, 198, 206, 208, 209, 214, 215, 217, 218, 221, 222, 226, 231, 233, 241, 243, 246, 247, 250, 251, 257, 262, 281, 287, 289–291, 297, 329, 330, 339

Aristotle on, 98justification of, 184, 243

Profit-seeking, 58, 104, 135n5, 166, 218, 243

commenda, 166Promise keeping, ethical aspects of, 333Property rights, 9, 15, 24, 30, 31, 33,

62, 65, 96, 152, 162, 200n2, 242, 243, 295, 324, 337

to labor, 295Muhammad’s attitudes, 162Ronald Coase, 30–31, 200n2

Prophets, 57, 68, 74–77, 141, 151, 152, 160, 162, 164, 168, 169, 319, 320

Protestantsbusiness ethics, 8, 199–200, 231conversionary, 241ethics, 8, 199–200, 231honoring contracts, 242literacy, rates of, 242

Ptolemy, 104grain shipments, 104

Punishment, 18, 20, 21, 27, 28, 57, 133, 143, 149, 159, 174, 189, 191, 192, 198–200, 212, 218, 223, 233, 239, 262, 282, 293, 302, 306, 323–325, 327, 341

altruistic, 28Puritans, 258–260, 282

economic success, 259Puzo, Mario, 2, 12n2, 194

QQing dynasty, 217

rice market, 217Quakers, 9, 281–293, 333, 335,

338–340, 347n10, 347n11abolitionism, 292; accused

of benefiting from abolition, 339

advertising, 285, 287, 288business ethics, 281–293business failure, analyzed, 284business influence, declining, 293business success, 281, 284capitalist, 286critics of, 281, 339debt, 283, 284formal education, 285, 286lifestyle, 281, 285, 287pacifism, 282persecution of, 282philanthropy, 282, 284product quality, 285slavery, 281, 292; and profits, 281,

289, 291, 292slaves, racial attitudes toward,

347n11social reform, 286temptation, 281, 283, 284, 289virtues of, 289war and profits, 281, 289wealth, 284women, 285, 286, 288

Queen Victoria, 286Qur’an

economic and moral development, 161–163

on interest, 140, 157, 161, 166slavery, 174, 318, 322

Quraysh tribe, 158Qusayy, 158

transformation from raiders to traders, 158

375 INDEX

RRaiding, 8, 9, 43, 95, 158Al-Rashid, Harun, 157Rates of interest, 62, 130, 141, 168,

187–189, 197, 198Rawls, John, 28Reciprocity, 24, 32, 33, 39, 42, 44,

46–49, 52, 53, 54n8, 92, 149, 170, 234n8, 296, 311, 312n3

advantages of, 33ironic effects of; Chinese Triads, 53;

Costa Nostra, 53; Russian Mafia, 53

labor relations, 296–297Reder, Melvin, 23Reed, Clyde, 188, 191, 192, 200n3

loans for investment, 192phases of usury policies, 191usury, 188, 191, 200n3; social

policies, 191Reference price, 27Reference transaction, 27Regulation of trade, 44, 57, 66,

108, 120weights and measures, 44, 57, 66

Regulations, 7, 51, 57, 63, 81, 96, 100, 103, 108, 120, 130, 209, 213–215, 227, 228, 233, 234n5, 248, 310

grain market, 101, 103, 218just price, 209, 214of trade, 108, 120

Reiffen, David, 250, 251, 256, 257, 263n4

Bubble Act of 1720, 256, 257Rent-seeking

crony capitalism, 7government-sanctioned monopolies,

251, 252state-created monopolies, 251, 252;

benefits of, 250Repeat game, 49Reputation

effects, 122

principal-agents, 122; ostracize, 127, 176

types of, 175Restitution, 62, 129, 166, 173, 185,

186, 191, 194, 195, 197, 210, 220, 221, 230, 231

usury, 191, 194, 195, 230Rhodes, Cecil, 84, 104, 298, 299

labor, 298; hut tax, 298Riba, 167, 168, 170, 177n3Riba al-fadl, 167, 168Riba al-nasi’a, 167Rich, 4, 23, 69, 70, 75, 78n5, 86, 89,

101, 131, 134, 144, 147–149, 151, 153, 154, 155n5, 157, 158, 171, 186, 206, 220, 259, 281

poor, at expense of, 69Richard of Middletown, 221

mutual benefits from trade, 221Richardson, Gary, 227, 228

guilds and competition, 227, 228Ricorsa (dry exchange), 193Rivals’ products, 50

denigration of, 184Romans, 57, 59, 77, 84, 87, 95, 108,

115–118, 120, 122–135, 150, 321, 324, 346n2

slave trade, 59, 118Rome, 108, 115–117, 122, 125, 129,

135, 139, 150, 181, 318, 321, 322, 326

attitudes toward trade, 115, 120, 181, 182

caveat emptor, 115law; and prices, 125, 126legal system; Arnold McNair, 128;

David Johnston, slaves’ standing, 132; David Johnston, warranties, 129, 132; William Buckland, 128

military conquest, 116, 135; benefit of, 117

piracy, 84, 116

376 INDEX

Rome (cont.)slavery, 116, 129, 321–322stipulatio, 128war booty, 116

Rosenwald, Julius, 9Rowntree, Henry Isaac, 288Rowntree, Joseph, 284–286, 288, 289

industrial espionage, 288wealth, 289

Rowntree, Seebohm, 286labor reform, 286

Rue, Loyal, 22, 33n7, 144, 163Rule of Saint Benedict, 229Ruskin, John, 304

depiction of pre-industrial idyll, 304

SSahlins, Marshall, 42–44, 49, 50

primitive, definition of, 42St. Ambrose, 153, 155n8, 185, 323

commerce, animus toward, 153, 155n8

defective products, 185fraud, 153trading, 185

St. Antonius of Florence, 195St. Augustine, 184

attitude towards merchants, 152–154charity, 184trading, 152wealth, 149, 150, 153, 184

St. Basil, 183attitudes to commerce, 183

St. Bernard, 197, 228monasteries, 228

St. Bonaventure, 208use of commercial terms, 208

St. Clair, General Arthur, 261St. Francis of Assisi, 206, 207

as merchant, 206–208St. Jerome, 90, 185, 240

on merchants, 90, 185trading, 185, 240

St. John Chrysostom, 183, 185attitudes to commerce, 183

Salamanca School, 189, 221lending, 189; opportunity cost, 189merchants, 189, 221

Salzman, Louis, 223medieval petty cheats, 223

Samurai, 243attitudes toward business, 243

San Bernardino, 184San Francisco, Chinatown, 23, 24Sant’ Antonio, 190

lucrum cessans, 190Sarakhsi, 164, 165

credit sales, 162prohibitions on contracts, 167

Sargon II, 68Saudi Arabia

King Iba Sa’ud, 318slavery, 318

Scandal, 3, 228, 244, 248–249, 257and discredit, 244

Scaptius, 124Scarcity, 32, 45–46, 49, 51, 54n4, 82,

102, 184, 217, 218, 329Scholastics [schoolmen]

Aristotle, rediscovery of, 183merchants, 183, 184, 199, 221, 222

Schubert, Eric, 258South Sea Bubble, 258

Scotus, John Duns, 221traders, 221

Seaborne commerce, 183benefits of, 183

Seabright, Paul, 42, 43, 46–48, 311, 312n3

employment, reciprocity, 46, 47, 312n3

primitive people, interactions of, 42Second Council of Lyons, 194

usury, 194Sedlacek, Tomas, 46, 54n4, 71, 85,

143, 144scarcity, 54n4

377 INDEX

Self-indulgent behavior, 75, 282Self-interest, 240

attitudes toward, 240Jean Domat, 240Pierre Nicole, 240

Selkirk, Alexander, 248Sellers, 23, 52, 59, 85, 125, 128, 129,

140, 141, 146, 174, 184–186, 189, 205, 209–214, 219–221, 223, 224, 240, 252, 255, 271, 291

reputation for honesty, 214, 221revealing defects, 185

Sempronius, Marcus, 131Sen, Amartya, 22Sennacherib, 68Serfdom

advantages of, 299contract, 299Richard Hellie, differences with

slavery, 299Servitude, indentured

depictions of, 300economic aspects of, 301

Shafi’i, 164, 177n2on partnerships, 164

Shakespeare, William, 201n11usurer, Shylock, 201n11

Sharecroppingdefinition of, 302U.S. South, 302; replacement for

slavery, 303Shaybani, 164Shirking, 5, 45Siassi (New Guinea), 50Silver, Morris, 58–62, 64–68, 70, 72–75,

77n2, 77n3, 152, 300, 320, 321contractual slavery, extent of, 58pastoralists and agriculturalists, 77n2Polanyi on markets, disputes, 58prices, 58private property, 62, 64secrecy in trade, 61

Simony, 226, 229Sirach, 147, 148, 154–155n3

attitudes toward the poor, 147, 148inheritances, 154n3, 155n3

Sitonai, 103Siuai, 49Slavery, 48, 67, 82, 86, 90, 109, 126,

132–133, 135, 174–175, 281, 289, 291, 292, 295, 299–303, 317–346, 351

American South, 318, 322, 324, 326Aristotle on, 82, 323, 341Aristotle, attitudes toward, 323;

contractual slavery, 321Ayyubids, 174Brazil, 327–328business agent, 118, 132–133Christian, early, 342; slaves and

masters, 342contractual, 67, 320, 321domestic, 317, 322education of, 132, 322enslavement, 82, 133, 337ethical aspects of, 317Fatimids, 174firearms, 290Greeks, 82, 86, 109, 326Islam, 174–175, 328; insider/

outsider, 318Jean Calvin, attitudes toward, 323John Woolman, 292, 336–338Laurium mines, 99leasing of, 99Maimonides, 174manumission, 133, 322, 328markets for, 174Martin Luther, attitudes toward, 323Plato, attitudes toward, 323prices of, 58, 133, 330profits, 133, 281, 291, 330rights to kill; Ancient Egypt, 324;

Athenians, 324; Hebrews, 324; Romans, 324; Tlingit, 324

Roman, 132, 321, 322St. Ambrose, attitudes toward, 323Shelomo Goitein, 174, 175

378 INDEX

Slavery (cont.)standing before the law, 318status symbols, as, 299Thomas Aquinas, attitudes

toward, 323trans-Atlantic traffic, 329treatment of, 174, 323–325, 327victims of, 321, 331

Slavery vs. free laborGreeks; Apollo, 326; Laomedon,

326; Poseidon, 326; thetes, 326Marxian, 325

Slaves, 8, 58, 82, 115, 146, 172, 247, 273, 281, 296, 317, 324–325

Slave trade, 59, 118, 290, 292, 328–330, 351

changing attitudes toward, 59Smith, Adam, 11, 22, 29, 39, 52, 82,

199, 200, 214, 217, 240, 242, 262, 273, 274, 277n6, 277n8, 292, 310, 337, 347n10

England, nation of shopkeepers, 277n8

public good, 29slavery, Quakers, 347n10speculators, 213, 217on usury, 199workers’ demand for goods, 273

Smugglingbenefits of, 246Peter Andreas, 246

Social reform, 286Quakers, 286

Socrates, 54n7, 89, 142choice between life and death, 54n7

Solon, 91, 110n3, 321attitudes toward merchants, 91contractual slavery,

prohibition of, 321Croesus, wealth of, 110n3

South Sea Company (SSC), 250, 251, 258

Soviet Russia, 310factory discipline, 311

Soviet Union, 24, 53, 135n1, 261, 268economy, 53

Spainattitudes toward trade, 144, 245, 252curse of gold, 17

Speculation, 51, 60, 101–104, 110n11, 110n12, 118, 146, 206, 213, 215, 217–219, 252, 258, 284

grain, 101–104Speculative bubbles

market manipulation, 253, 254Mississippi, 254South Sea Bubble (British), 253,

254, 256tulip, 254, 256

Speculators, 60, 102, 103, 110n11, 119, 126, 210, 212, 217, 218, 222, 254

Adam Smith, 213, 217benefits of, 110n11, 217Demosthenes, 103Douglas Meek; Joseph and grain

speculation, 219engrossers, 213, 227forestallers, inept, 217Jacob Viner, Joseph and grain

speculation, 218Jean Calvin, Joseph and grain

speculation, 218Jewish attitudes toward, 146John Blunt, 253Josiah Child, 253Lysias, 103market manipulation, 252, 254market manipulators, 146, 212,

217, 218, 254Mississippi (Bubble), 254regrators, 227regulations of, 51, 103, 215South Sea Bubble, 253, 256

379 INDEX

tulip mania, 254, 256windhandel, 252

Speculum Regale (King’s Mirror), 244business advice, 244

Spencer, Herbert, 335prisoners, 335

Stakeholder theory, 11, 28, 29Standardized weights and

measures, 39Babylonian, 66

Stanley, Thomas, 151The Millionaire Next Door, 151

Starr, Chester, 82, 84, 91, 94, 100State policies

toward economies of scale, 62, 108, 116

toward monopolies, 63, 109toward trade, 107, 108

Status, 2, 59, 67, 72, 86, 88, 89, 99, 109, 133–135, 158, 207, 214, 268, 269, 274, 282, 299, 303, 317–319, 322, 325–327, 329, 334, 338, 342

effect upon trust, 65Status goods, 69, 282, 342Statute of monopolies, 250Steckel, Richard, 331, 332

trans-Atlantic slave trade, 331; mortality rates, reasons for, 329, 332

SteinbeckThe Grapes of Wrath, 268; Soviet

Union, 268Stelai, 104Steuart, Sir James, 273

workers’ demand for goods, 273Steward, 31, 149, 161, 240, 259Stewardship, 88, 259, 282Stigler, George, 60

price dispersion, 60Stipulatio, 128, 129Stock traders (jobbers), 51, 253–258

Strangers, 11, 27, 32, 42, 44, 46–48, 50, 70, 83, 93, 148, 213, 324, 336

Sulayman, Ubaidallah b., 170use of Jews as officials, 170

Sumerian hymns, 61Sumerians, 61, 64

fraudulent tricks, 64Supply and demand, 11, 42, 44,

58, 60, 92, 96, 110n11, 205, 211, 337

inapplicability of, 11, 58, 60prices, 11, 42, 92, 96, 110n11, 205

Suq (markets), 50, 51Swanson, Heather, 226

guilds, 226Swift, Jonathan, 274Sword Blade Bank, 257

TTales of the Arabian Nights, 157Talmud

just price, 146three questions, 142

Tamari, Meir, 143, 144Jewish ethos of community, 143

Tawarruq contract, 168Tawney, Richard, 188

loans, 188Taxation, 63, 81, 116, 126, 247, 270

exploitative, 75, 174, 196Taxes, 18, 29, 62, 63, 66, 75, 77, 96,

98, 103, 106, 116, 118, 120, 123–126, 135, 143, 158, 170, 174, 188, 196, 213, 218, 260, 291, 298, 299, 328

collection, 63, 124, 145, 195Taymiyya, Ibn, 167

contracts, 167; validity, 167Tea Act, 246Technological progress, 8Technology, 48, 65, 117, 140, 242

380 INDEX

Teleological theories, 10Television, 1, 4, 12n1, 12n4, 268,

271, 276n2diffusion of, 268

Telmun, 67Temin, Peter, 121, 122, 125,

127–129, 321, 322, 346n3regulation of grain, 125slavery, Roman, 321, 322

Temple of Shamash, 61, 67Temples, 60–62, 67, 68, 74, 75, 152,

200n5, 296banking services, 62

Terence, 119Tertullian, 240

ethics and trade, 240Testament, 152Thaler, Richard, 147

reference price, 147Thayer, Eli, 344Thayer, Nathaniel, 344Theft, 4, 12n5, 24, 43, 50, 51, 61, 83,

100, 124, 187, 226, 308employee, 5

Themistocles, 96–98allegations against, 97

Theophilus, Emperor, 182, 183Theophrastus, 98

animus to business, 98Theory of the Leisure Class, 274Third-party effects, 6Thomas, Robert, 329

victims of slavery, 329Thompson, Edward (E.P.), 215–218,

234n3, 273, 306, 307, 310, 339bread riots, 215factory discipline, 306time, role of, 307, 339worker discipline, 273, 306

The Thousand and One Nights, 157trader as hero, 157

Three stages of ethics, 19rewards and punishment, 135, 233,

239, 262, 317, 351

Thrupp, Sylvia, 226guilds, 226

Timocreon, 97depiction of Themistocles, 97

Titus, 127, 128Torah, 70, 73, 142, 319

slavery, 319weights and measures, 70

Torrey, Charles, 159, 160Muhammad’s attitudes, 159, 160

Trade/trading, 3, 16, 18, 32, 39–54, 57–77, 82–84, 90, 93, 95, 102, 105–107, 115, 118, 120–123, 135, 139, 146–148, 152, 157–161, 167–173, 181, 185, 206, 214, 222–226, 229, 239–262, 272, 282–285, 308, 318, 330, 337, 351

attitude towards, 87, 104, 117–119, 139, 152–154, 157, 231, 282–285

benefits, 17–18, 51, 88, 221definition, 16medieval, depictions of, 173mutual beneficial, 40mutual benefits of, 17–18, 40, 41,

44, 50, 51, 88, 98, 209, 221petty cheats, 215St. Ambrose, 185seaborne, 67, 105–106, 123voluntary, benefits of, 39, 40, 44, 48zero-sum game, 40, 41, 54n2, 240

Trading places, 50, 51, 61speculators, depiction of, 110n11

Transaction costs, 4, 24, 42, 60, 67, 70, 77, 117, 127, 211, 224, 228, 272

role of deities, 60weights and measures, 224, 228

Trans-Atlantic trafficdeath rates, 329–332; causes of, 331Dolben’s Act of 1788, 331, 332economic aspects, 330Richard Steckel and Richard Jensen,

death rates, 331

381 INDEX

Transformation from raiders to traders, 244

Transportbrief, 252, 253Trust, Good, 20Trust, virtue

Good Trust, 20, 47Hard Trust, 20Real Trust, 20, 21

Truth in advertisingMaimonides, 140Zinbarg, Edward, 140

Twelve Tables, 131Usury, 131

UUdovitch, Abraham, 16, 162,

166, 177n2Ultimatum game, 26Umayyad empire, 161Unconquered, 300

indentured servitude, 300; depiction of, 300

Unjust, 74, 90–92, 186, 209, 226, 306

Unnatural exchange, 98Aristotle on, 98

Ure, Andrew, 306factory discipline, 306

Ur-Nammu law code, 64Usury, 71–74, 81, 130, 131, 141,

145, 147, 165–169, 177, 181, 187–200, 200n3, 200n5, 201n8, 205, 208, 209, 226, 230, 233

Adam Smith, 199Benjamin Nelson, 195, 196,

201n11; attitudes toward small lenders, 194

commenda, 165Edward the Confessor, 208effects of bans, 72evasion of, 191–196; Cambium et

recambium, 193; ricorsa, 193

exorbitant rates, 189Islamic attitudes, 177Jean Calvin, 199–200Jehan Boine Broke, 195; usurer,

201n11John Gilchrist, 198Justinian, 130phases of, 191public manifest usurer, 194punishment of; Pope Innocent III,

193; Thomas Aquinas, 193Raymond de Roover, 187, 230restitution, 191, 194, 230Second Council of Lyons, 194social policies, 191Thomas Aquinas, 189, 194, 200n5Twelve Tables, 131Western Zhou Dynasty, 188;

attitude toward, 188Utility maximization, 85, 144

VVeblen, Thorstein, 274Verenigde Oostindische

Compagnie, 252Verres, 124

venality, 124Vespasian, 123

greed, 123Victims, of slavery

Hellie, Richard, 329; sub-Sahara, 328–329

Thomas, Robert and Bean, Richard, 329

Viner, Jacob, 39, 87, 88, 90, 152, 183, 186, 189, 209, 218, 240–242, 323, 347n10

Aquinas, Thomas, 186, 189; usury, 189

Greeks; attitudes toward work, 87Joseph and grain speculation, 218just price, 209

382 INDEX

Virtue, 10, 21, 22, 33n3, 70, 72, 81, 85, 86, 89, 94, 100, 109, 110n3, 123, 144, 149, 153, 155n6, 195, 234n9, 243, 245, 247, 258, 259, 261, 262, 289, 323, 341

wealth, 70, 89, 239Vivenza, Gloria, 128, 132

lending, 128Vogel, David, 9, 231Voluntary divestment of wealth, 151Voluntary obedience, 21Von Hayek, Friedrich, 21, 31Von Mises, Ludwig, 2Voth, Hans-Joachim, 273

WWages, regulation of, 64Walter of Henley, 219

negotiating, 219; witnesses, need for, 219

Walvin, James, 281–290, 292, 293advertising, 287

Walzer, Michael, 9War

of 1812, 325profiteering, 216Quaker opposition, 281, 286,

289–291Warranties, 23, 59, 128, 129,

132, 170Wax, Darnold, 338

Quakers and slave trade, 338Wealth, 5, 17, 18, 66, 68–71, 74, 75,

81, 83, 87–89, 95, 97–101, 107, 110n3, 115–117, 120–125, 135n3, 139, 143–145, 147, 148, 150–154, 162, 163, 169, 171, 184, 190, 206, 207, 229, 231, 232, 239, 249, 250, 259, 261, 263n7, 281, 282, 284, 286, 287, 289, 298, 318, 321, 324

Islamic attitudes, 177Quaker attitudes to, 284responsibility, 162, 187, 321, 337role in Athens, 99–101St. Augustine, 149, 150, 152, 153status, 88, 89, 99, 318use of, 153, 154, 163, 232

Wealth and incomecommutative justice, 181, 185distributive justice, 181, 185

Wealth seekingAristotle’s attitudes toward, 82, 89Confucius’ attitudes toward, 100

Weapons, trade in, 290, 291Weber, Max, 9, 22, 99, 230, 242,

262n1, 340Catholic edicts, effects of, 242Greeks quest for wealth, 99Protestant ethics, 230, 242

Wedgwood, Josiah, 269–272, 276, 307–309

designs, pirating of, 271factory discipline, 307–309fashion, 269–271marketing, 269–271, 276status goods, 269

Weights and measures, 39, 57, 64, 66, 70, 96, 102, 141, 223–226, 228

Jewish teachings, 141Wesley, John, 151, 274, 308, 309

attitude toward wealth, 151Josiah Wedgworth’s factories, 308

Western Zhou Dynastyattitudes toward usury, 188

Williamson, Oliver, 34n14, 175, 304reputation effects, 175stakeholder theory, 34n14

Windhandel, 252speculation, 252

Womenlabor, 273; Quaker use of, 288

383 INDEX

Woodberry, Robert, 241, 242Protestants, conversionary, 241, 242

Woolman, John, 9, 292, 335–338abolitionism, 335children of slaves, 337Golden Rule, 336graciousness toward opponents, 336slave owners’ arguments, rebutted, 336slavery, opposition to, 337, 338

Worker discipline, 273, 305, 306, 311Edward (E.P.) Thomspon, 273, 306

Workerscompensation, 5, 248; wages, marginal

revenue product of labor, 305English, 267, 272, 273, 309, 338;

prosperity, 267intellectual theft, 308

Working conditions, 5, 296, 303–305, 309–311, 346

factory, 309–311independent workers, 304

Worthington Industries, 25Golden Rule, 25

Wounded Warrior Project, 7Wyclif, John, 226

merchants, condemnation of, 226

XXenophon, 76, 81, 82, 86, 88–91, 99,

102, 103attitude towards merchants, 76, 86encouraging merchants, 86, 99, 102grain market, 90, 102

just price, 102landowners, 81, 89, 90Phoenicians, attitudes toward, 76price fixing, 102speculators, 102use of honors, 90, 99

YYoung, Arthur, 273

industrious workers, 273

ZZakat, 163Zeitlin, 73Zenothemis, 105Zephaniah, 74Zero-sum game, 40, 41, 54n2, 240Zimbardo, Philip, 18Zinbarg, Edward, 139–142, 154n1,

162, 169, 177n4, 297bribes, 141Buddhism, 154n1debts, Laws of Manu, 140, 141,

169, 177n4lending, 169truth in advertising, 140

Zinn, Howard, 301indentured servitude, 301

Zucker, Lynne, 23trust production; characteristic- based

trust, 23; institutional- based trust, 23; process-based trust, 23