Ethical Theories in Business
You might wonder how ethics works its way into business, and whether it’s practical to consider the ethics of our actions when we conduct business at all. As it turns out, business leaders will make decisions that are ethically significant on a daily basis. As a result, business leaders can sometimes be faced with conflicting loyalties. You might think, on the one hand, that the loyalties of a business leader must be to the business’s consumers. On the other hand, it can also be argued that the loyalty of the business leader should lie with the shareholders.
There are many other stakeholders who can lay claim to the loyalty of the business leader: the environment, the employees, the government, and even the wider community. No single business owner can know what kind of ethical actions will bring the most utility to the society. In this case, self-interest can lead to altruism when the business, as well as the greater community benefits from the actions of the business. Take sustainability programs, for example, they contribute to the preservation of the environment, while also leading to reduced expenses for the business. The business owner who employs an ex-convict to give them a second chance in life and the restaurant that occasionally feeds a street family can be said to have compassion.
These are just some of the many questions that exist for ethical theories in business to answer. The point is that, at the end of the day, business leaders are faced with serious ethical questions in the decisions they make.
On The Rise and Fall of US Corporatocracy
Unwelcome Guests regular, war reporter turned social critic, Chris Hedges, sees Trump as a symptom of a deep and more grave development – the corporate takeover of the USA. He highlights capitalist subversion of the key US democratic institutions since the 1970s, undermining their ideals while preserving their form to cloak the totalitarianism. His overview of life in the US in 2017 is as extensive as it is disturbing. Hedges parallels the fall of the US democratic ideal with the collapse of the empire of Ancient Rome, and – drawing on his experience in Eastern Europe in 1989 – with the collapse of the Soviet empire. He details the injustice faced by inmates within the US corporate prison business, and emphasises the need for compassion with fellow human beings who are caged and tortured, ultimately, because doing so makes money for the corporations that run US society.
He challenges the enemy images such as those we have detailed in the last few episodes of this show. We begin our second hour with a 2018 recording of Marxist economist Richard Wolff, whose alternative post-WW2 economic history gives center stage to the behaviour of US corporations since the mid 1970s. Wolff’s economic analysis is congruent with Hedges’ wider observations about corporate power in US – to which we return 20 minutes in to our second hour. Hedges emphasises the role of compassion as an antithesis to the amorality of capitalism, a positive value to which we can hold fast as the wreck of capitalism crashes around us.
Tarot Tuesday: Capitalism, Control + Compassion –
Four of Pentacles is the energy that blocks change, abhors it, and clings for dear life to the days of old. As our social landscape changes, with that change comes a radical power shift. The Four of Pentacles is he who insists upon dominance and the perception of control at all costs. Capitalism, after all, operates only if everyone adopts the shared assumption that acquiring and accumulating is inherently better than being satisfied with one’s equal share. In a system built on a scarcity mentality, those within it are taught to cling to coins alone, as if coins had the power to save us.
It is the state in which material wealth becomes so entwined with one’s sense of self that he feels his very survival depends and is contingent upon the material things he owns. The King of Cups in a reading is a beacon of compassion. The King of Cups is capable of seeing things from many angles, and has the ability to flow from one to another with strength and sustained psycho-flexibility. The force of his compassion for the vulnerable transforms his anger toward the oppressor, allowing him to process and respond effectively to injustice. It is from this place of compassion for the vulnerable that we move effectively and make wise, smart choices.
In an activated, threatened state, our minds become narrow and we cannot see the infinite choices available. In the days to come, let us establish the practice of bringing our selves back to this state moment by moment, again and again.
Capitalism vs. Socialism: Reply to Bruenig – Econlib
They’d witness amazingly well-fed, healthy people enjoying a cornucopia of technology and art beyond their wildest dreams. In a world with eight billion people, you can find unbridled lust and ravenous want if you search hard enough. Even the crummiest job in the U.S. lets workers serve their own end of making money, and spending or saving it as they like. The vast majority of workers also get some satisfaction from being productive and socializing with their coworkers.
Capitalists want disciplined, focused workers – and well-reward those who possess these traits. Impulsive people in capitalist societies have trouble even holding down a job, as sociologists of poverty are well-aware. Even if you focus on consumers, plenty of firms – such as insurance companies and lenders – want people to be strong-willed, because their products offer long-run gain for short-run pain. People have consented or agreed to things they obviously haven’t. Even in the poorest countries, it’s normally multinational corporations that provide the best wages and working conditions.
Workers’ alienation from their labor, society, and themselves; 3) to. Socialist-style approaches will result in greater utility or efficiency,but the greatest recommendation of socialism is that it is its own. Yes, people who run businesses want to make money; but most are also glad to create economic and personal opportunities for their workers, and valuable products for their consumers.