New Features:

• Chapter 4, "Critics of Business," has a new discussion of the rise of free market ideas that came to be called the Chicago School and their interaction with, first, Keynesian thinkers and, later, progressive thinkers.



• Chapter 7, "Business Ethics," contains an expanded discussion of white collar crime and criminal prosecution of both managers and corporations, including the growing use of deferred- and non-prosecution agreements and monitors. The chapter also has a new discussion of how inner psychological processes interact to generate unethical behavior.



• Chapter 8, "Making Ethical Decisions in Business," adds a new section on the neural basis of ethical decisions. Studies of the brain using magnetic resonance imaging suggest that ethical decisions are fast, unconscious, and automatic processes. Their findings illuminate how individuals do (and should) make ethical decisions.



• Chapter 9, "Business in Politics," includes an expanded discussion of lobbying ethics, including a more thorough discussion of the nature of bribery and incidents to illustrate its boundaries. The section on corporate money in elections is revised to explain changes in election law following the Citizens United v. Federal Election Commission decision. The chapter case study is now the story of Citizens United.



• Chapter 10, "Regulating Business," adds a new fifth wave, "terrorism and financial crisis," to the four historical waves of regulatory growth. This new wave covers the federal government's aggressive expansion of regulation and changes in regulatory philosophy in the Barack Obama administration.



• Chapter 11, "Multinational Corporations," has a new discussion of the Organisation for Economic Co-Operation and Development's Guidelines for Multinational Enterprises. It tells a story about how the Guidelines were applied to a mining company that sought to develop a sacred tribal land in India.



• Chapter 12, "Globalization, Trade, and Corruption," introduces a new discussion of globalization. The section on trade now explains the rise of the modern trading system, including discussions of Bretton Woods, the International Monetary Fund, the World Bank, the General Agreement on Tariffs and Trade, and the World Trade Organization. The section on international corruption is revised to accommodate recent, more vigorous anti-bribery enforcement. It now relates more incidents and stories about bribery.



• Chapter 15, "Consumerism," has several new sections including a discussion of Henry David Thoreau and his principled rejection of materialism, a presentation of arguments defending consumerism, and a description of the consumer protection activities of the Federal Trade Commission.



• Chapter 17, "Civil Rights, Women, and Diversity," contains added emphasis on the nature and significance of diversity management programs in corporations.



• Chapter 18, "Corporate Governance," now tells the story of the Lehman Brothers bankruptcy that resulted from, among other factors, the lack of oversight by a poorly structured board of directors. It explains new governance reforms in the wake of the recent financial crisis.

Retained Features:

• Chapter-Opening Stories As in past editions, we begin each chapter with a true story about a company, a biographical figure, or a government action. Five new stories appear in this edition.



• The Case Studies Every chapter, except Chapter 1, ends with a case study. The cases illustrate one or more central themes in the chapter. Five new cases appear in this edition. End of chapter cases are in depth and written by the authors, giving students a broad base of information for discussion. The authors believe that students benefit from longer rather than shorter cases or short incidents. Students also benefit from immediate application of the case study to the text. Cases may be used as a basis for group discussions and additional research. These cases are approximately 10 pages each in length.



• The authors use case examples to illustrate the concepts and to show the application of theory to practice. Their belief is that cases should be written to raise questions rather than answer them.