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An interview of Michael Jensen by Karen Christensen for Rotman: The Magazine of the Rotman School of Management

Integrity: Without It Nothing Works - An Interview with Dr. Michael Jensen

From Dr. Michael Jensen:
There is confusion between integrity, morality and ethics. In our much longer (and as yet incomplete) paper on the topic (see “Integrity: A Positive Model that Incorporates the Normative Phenomena of Morality, Ethics and Legality” (available at http://ssrn.com/abstract=920625) my co-authors, Werner Erhard and Steve Zaffron and I, distinguish integrity, from morality and ethics in the following way. Integrity in our model is honoring your word. As such integrity is a purely positive phenomenon. It has nothing to do with good vs. bad, right vs. wrong behavior.

Like the law of gravity the law of integrity just is, and if you violate the law of integrity as we define it you get hurt just as if you try to violate the law of gravity with no safety device. The personal and organizational benefits of honoring one’s word are huge — both for individuals and for organizations — and generally unappreciated.

Read or download the entire article on SSRN: Integrity: Without it Nothing Works

* Note: This paper is an interview of Michael Jensen by Karen Christensen on the topic of integrity.

 

Related Resources:

Integrity: A New Model [Video]

A New View of Integrity: A Missing Factor of Production

Putting Integrity into Finance: A Purely Positive Approach

 

Michael C. Jensen

Dr. Michael C. Jensen is the Jesse Isidor Straus Professor of Business Administration, Emeritus at Harvard Business School, and the co-founder, Chairman, Managing Director and Integrity Officer at Social Science Electronic Publishing. Dr. Jensen has played an important role in the academic discussion of the capital asset pricing model, stock options policy, and corporate governance. See Dr. Jensen’s full biography.