From Introduction:

In the following I would like to discuss Wieland’s concept of relational economics. I begin by presenting the concept of relational economics as I see it. My field is philosophy of management, so I consider Wieland proposal from this perspective. After this, I discuss the core concepts of relational economics in order to assess the most important dimensions of this approach. Here, I discuss briefly the themes of Wieland’s relational economics: Luhmann and systems theory, transaction cost economics and business ethics, embeddedness of the firm as a social system, the firm as a nexus of stakeholders, the condition of polycontextuallity, polyvalence and polylinguism in complex societies, globalization and cosmopolitan business ethics, relational leadership and SDG governance, business legitimacy, polycontextuality and the political firm. Thus, with this I propose to situate relational economics within the framework of contemporary discussions of business ethics and economic ethics as a conceptualization of the new conditions of business legitimacy in contemporary society. Basically, I understand Wieland’s approach as powerful contribution to institutional theory of corporate responsibility, economic philosophy or philosophy of management, cosmopolitan business and business legitimacy studies.