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In this article I argue the relevance of natural law for framing and addressing ethical issues raised by the practice of business in a global context. There are historical, as well as systematic reasons for this. On the historical side, it can be argued that the origin of modern economics is linked to a cultural context, still influenced by modern natural law theories. Thus, even if Hume’s moral theory is everything but a natural law theory, either in the traditional or the modern sense, his “laws of nature” (fixation of property, rules for its transference, and promises) represent a systematization of the rules of justice necessary to preserve the space of economic freedom required for development of a commercial society. This systematization is in line with the classical approach to natural law, which nevertheless presents further advantages for developing an ethical approach to economic activity, since it brings with itself a conception of economic agency richer than that of Hume: a conception that is not necessarily linked to pursuit self-interest, but rather is inspired by ethical motives right from the start. Indeed, on the systematic side, the classical natural law is seen as the law of practical reason: a set of principles in charge of inspiring both virtuous action and legal practice, so that we can realize the human good. Assuming the embodied and social nature of human beings, as well as the various cultural realizations of humanity, a natural law approach to ethics is in a position to stimulate a dynamic and bottomup articulation of the personal and common good, concern for progress and sustainable development, universal principles and cultural variations.

Institutions, Principles and Judgement: The Relevance of the Natural Law Tradition for Articulating Business in a Global Context