On the Private and Public Virtues of an Honorable Entrepreneur

Alexis de Tocqueville’s writings on honor, and his observation that a democracy’s definition of honor “stands for the peculiar individual character of that nation before the world,” provide inspiration for an ideal entrepreneurial innovator discussed in this book. Beginning with Aristotle, contributions of the giants of moral, political, and economic thinking are aggregated in a Credo for honorable entrepreneurs who are dedicated to freedom and general human flourishing. The Credo’s maxims and duties can help entrepreneurs prevent a separation of the honorable and the useful, which is a moral challenge faced by many leaders in all parts of society. Like-minded individuals who share this vision can rebalance power and repair America’s triune social order, while creating wealth and a surplus that can benefit the poorest among us.

At a time when so many are tempted to use the power of government to achieve their personal ends, Felix Livingston’s fine new book is an important reminder of the importance of keeping entrepreneurship honorable. Livingston draws upon the full western tradition to explain the logic and virtue of entrepreneurship that springs from persons of character serving others through innovation., In this clever and insightful book, Livingston uses enlivening stories and arguments from western philosophy to buttress the claim that entrepreneurs can and should be ethical stalwarts, providing meaning and virtue to society. This is an exciting new way to reach business students. A flourishing society surely needs the wisdom in this book.

Felix R. Livingston is professor of economics and director of the Honorable Entrepreneurship Program at Flagler College.