Peter Turchin — What Is The Constituent Of Morality Inwards A Capitalist Economy?

In September 1970 Milton Friedman published an articlein The New York Times Magazine, “The Social Responsibility of Business is to Increase its Profits.” Friedman, who has received the Nobel Prize inwards Economics inwards 1976, is in all likelihood the most influential economist of the instant one-half of the twentieth century. His views accept teach the mainstream economical thinking, although few economists today attention to acre them equally boldly equally Friedman.

In my recent majority UltrasocietyI utilisation the examples of fictional Gordon Gekko (a grapheme inwards the painting Wall Street) together with all-too-real Jeff Skilling (the CEO of Enron) to explicate why this persuasion is wrong. Yet I accept wondered on occasion, produce economists actually believe that “the basis runs on individuals pursuing their self interests” (to utilisation approximately other Milton Friedman quote) together with that businessmen should last motivated exclusively past times self-interest unadulterated past times whatever feelings of sympathy or morality?...

Evonomics
What Is the Role of Morality inwards a Capitalist Economy?

Peter Turchin | Professor inwards the Department of Ecology together with Evolutionary Biology at the University of Connecticut, Research Associate inwards the School of Anthropology, University of Oxford, Vice-President of the Evolution Institute, together with blogger at Cliodynamica — H5N1 Blog most the Evolution of Civilizations

See also

The CEO of Sears Fails His Company past times Believing inwards Ayn Rand together with the Invisible Hand

Jonathan Haidt | Thomas Cooley professor of ethical leadership at the NYU-Stern School of Business