The need for values to make a reappearance in the agendas of both business and academia has been a popular theme in the wake of the ‘triple crunch’ of a credit-fuelled financial crisis, accelerating climate change and soaring energy prices, with particular emphasis being placed on the role of leaders and leadership to steer us in a more enlightened direction. However, the contrasted positions of deontological and teleological ethics have presented leaders with seemingly incommensurable standards against which to make decisions. Even Aristotle’s call for practical wisdom or ‘phronesis’ doesn’t go far enough in addressing the ‘content’ of ethical decisions and the ‘goods’ that business and other leaders should be seeking to attain. This paper proposes that a radical rethink is required in the development of leadership ethics which challenges leadership learners to consider a Malthusian perspective on what it takes to build a better world. It is likewise suggested that business schools have an important role to play in promulgating this radical agenda.