ethics

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Walking away from the bank

On November 13, 2011 By admin

Wrong is still wrong: Arthur Andersen, Enron and now

On August 26, 2011 By admin

The poor today, Samaritan revisited

On May 15, 2011 By admin

Do no wrong: The Challenger accident 25 years later

On January 26, 2011 By admin

Poverty of the people, wealth of Corporate

On December 31, 2010 By admin

Adam Smith believed that a person pursuing one’s own self-interest and engaging in others self-interest would on whole benefit society as well. Smith asserted that a person who strived to enhance his or her wealth efficiently would ultimately promote the ends of the community involved; you could not have one without the other. Smith realized that profit making needed to include justice and benevolence. However, Adam Smith was pragmatic; he knew that the free market and one’s own self-interest in that market would not provide for the ethical behavior necessary to participate in an exchange of good or services. Adam Smith wrote in the Wealth of Nations, when ownership is separated from management (i.e. the actual production process required to obtain the capital), the latter will inevitably begin to [...]