In Values, Nature, and Culture in the American Corporation, distinguished ethicist William Frederick explores issues of fundamental importance to all who aspire to conduct their business affairs ethically. He begins with an examination of the three value systems in business that are basically incompatible, and therefore in constant tension. The first is the need for managers to efficiently allocate resources for maximum profits. The second is the natural tendency for managers, in pursuit of the first goal, to accumulate power for its own sake. The third is the desire for people in...