Welcome to the Nexus of Ethics, Psychology, Morality, Philosophy and Health Care

Welcome to the nexus of ethics, psychology, morality, philosophy and health care

Thursday, January 15, 2015

Making capitalism more ethical: Dynamism with decency

By Jonathan Haidt
Originally published January 1, l2015

When I tell people I teach business ethics, they often ask: “isn’t that an oxymoron?” Their response is not unwarranted. Much of my course is about the clever ways businesses have found to exploit their workers, sidestep regulations, and foist external costs onto others. Businesspeople are brilliant at finding opportunities and some of those opportunities are exploitative.

Yet the great majority of businesses (in developed nations with low corruption) run quite ethically and survive only because they provide a good or service that makes other people’s lives better. When you take the big picture and see those hockey-stick graphs of rising prosperity in the West since 1800, and in Asia since 1980, I think you’ve got to start with the proposition that business is fundamentally good. Creating value for other people (and keeping some for yourself) is virtuous. When people are free to create value, it unleashes the tidal wave of human dynamism. Poverty plummets. When people are not free, you get torpor, North Korea, and Cuba.

The entire blog post is here.