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From the origin of Business Ethics and Corporate Social Responsibility, responsible self-regulation of business has aroused scepticism based on the oxymoron qualification. Lessons learned from Smith’s and Durkheim’s analyses lead to the Aristotelian notion of phronesis, to found the legitimacy of moral limits of any human activity, including the economic sphere and management. Overcoming the oxymoron implies redefining the feasibility of responsible action faced with global systemic crises of the 21st century, finding again the ideal type of the responsible leader according to Aristotle – the phronimos.