In a competitive society ethics are an albatross, an impediment to competitiveness. Thus, there can be no ethics in business. In business, if one competitor engages in an unethical practice that gives them a competitive advantage then all competitors must engage in the same practice or be put at a disadvantage.
If one competitor doesn't go to the trouble and expense of properly disposing of their toxic waste products, for example, then all the competitors must shirk the same responsibility or their dutifulness will become a significant liability.
Likewise, if one competitor pays slave wages. All competitors must then follow suit or be rendered uncompetitive or competitive only with severe impediment. That's why Walmart destroys more jobs than it ever creates. When Walmart comes into a community Kroeger's has to leave, Walgreens, Jewel and Dominick's have to leave because they are unionized employers with union shops and can't compete with Walmart's low wage model. This is what communities starved for investment and who want Walmart to come in - like the African-American - in their desperation, fail to understand or appreciate.
Thus leaving matters of economics to the "free market" is leaving them to a lawless sociopathy where the strong are free to prey upon the weak. If there are to be any ethics in society they must be handed down by government in the form of laws and regulations.
The "magic of the marketplace" theory is, therefore, a patent sham, it merely allows the weak or less powerful to be consumed. If you point this out to an exponent of the theory they don't deny it but say, in the same breath they just finnished saying the magic of the marketplace assures everyone's well being without government intervention, that it is OK for the less powerful to be sacrificed because everyone's well being should not, after all, be assured and that that's for the sake of everyone's freedom (but not the freedom of the less powerful, I suppose). Actually, of course, it's not for everyone's freedom but for their own class privilege. It's only for that that the marketplace has any magic.
We, as a society, must control our economy democratically if we want the economy to serve society - or the people - rather than have the people be the servants - or the slaves - of the economy.