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Showing posts with the label ethics

180. The strange case of the missing business ethics

Modern business thinking has no time for ethics. True, corporations refer to ethical business, but this is just another product. It is paid lip service, in most cases, as a marketing ploy to attract customers. Some corporations do seem to behave ethically, but not many consistently do. The maximisation of financial returns is the ultimate objective of most businesses and this is widely accepted in society as necessary. But this acceptance is a mistake, the result of an oversimplification early economists made to be able to model economic interactions and the system these build. No universal law dictates this must be the aim of businesses. We could choose to rate and value a business on ethics, or impact on the wellbeing and happiness of stakeholders it interacts with. This is more complex, but would have an incredible effect on our societies. Money has been around so long it is easy to forget it is just a convention to facilitate exchange and, thus, lacks intrinsic merit or substance...

129. The power of ethical individual economics

I am lucky to have significant acquisitive power and spare income. I see this not only as a privilege, but a responsibility to use my good fortune to influence my environment positively. One way is by making purchasing and investment decisions with not only my short-term self interest at heart, but the general interest. I buy sustainable products through socially better channels and invest in globally beneficial companies and initiatives which may not yield best short-term financial returns. By deploying my individual resources socio-politically, I can have small but significant impacts. This is long-term sensible and satisfying, I buy a chance to shape my world. My ability to earn above average is a combination of the right opportunities and a bit of fortune, not a god given right or the result of a superior intellect or work ethic, as too many believe. If all of us who can made a conscious decision to produce and consume strategically, we could have a great impact shaping our society...