The foundation of BB&T’s success is its principles.
Reducing investors’ incentives to take risks is reducing the jobs their investments are likely to create.
Business executive Michelle Freeman recently spent a night shivering in the cold with homeless teenagers. What “good” will that achieve when the teenagers can’t find work? What moves wealthy individuals to do “penance” for their wealth?
Insider trading is when someone trades with knowledge they have but which others do not. The question is whether this should be a crime.
The moral is the practical—that is the reason why you want to be moral.
Instead of humility that the “you are not that good” remark is trying to admonish, an effective business leader needs to embrace the moral principle of pride: the policy of doing one’s best.
An excerpt from Donald Donald and Andrew Greta’s I am John Galt: Today’s Heroic Innovators Building the World and the Villainous Parasites Destroying It (Wiley). In November 2008, 30 days before his scheduled retirement, John Allison sat atop a black office tower in Winston-Salem, North Carolina, preparing to sign away his life’s work. He’d […]
RBC and any other company should be free to outsource as much as they want—because it is moral.
In its recently released budget the Canadian (Conservative!) government announced $6.4 billion of new corporate welfare spending. The aerospace sector will receive $1.2 billion of it over the next five years, Federal Economic Development Agency for Southern Ontario $920 million, forestry companies $92 million, Venture Capital Action Plan $60 million, and $325 million will go […]
Rubio perpetuates exactly what’s wrong. He assumes, like Obama, that what we have is a mostly free enterprise system. But we don’t.
Whole Foods co-CEO John Mackey recently backed off his description of Obamacare as “fascism.” Mackey stated, “I made a poor word choice to describe our health care system, which I definitely regret. The term fascism today stirs up too much negative emotion with its horrific associations in the 20th century.” Actually, he should have stuck […]
Obama and his wife, call for service to replace the motive of profit. Yet if money and profit are so bad, why do those seeking the trillions in redistributed wealth want it so badly?
Associated Press and FoxNews.com reports: Medical supply giant Stryker is the latest company to announce job cuts in anticipation of coming costs associated with Obamacare, even though the man who inherited a fortune from the company’s founder is a fan. The company will cut 1,170 jobs, or five percent of its worldwide workforce, despite the […]
If we are to believe people like President Obama who famously said: “You didn’t build that”, individual accomplishment is insignificant; only as a group we can build something. While collaboration, trade, and learning are great benefits of living in a society and we can often achieve more by hiring others and working together, such collaboration […]
Most of us pursue self-interest every day: we eat nutritious food, engage in productive work (to have a purpose and to make a living), look after our health, enjoy recreation and entertainment, spend time with friends and loved ones, and go to the mall to buy things we need and want. Business firms also pursue […]
This is an issue mostly in countries with abundant natural resources and governments bent on economic nationalism, but it nevertheless poses an interesting ethical dilemma. Canada’s economy is dominated by resource companies: in oil and gas, minerals, the forest sector, hydro power. Often those companies become attractive takeover targets to foreign-owned firms, at which point […]
Many economists today are arguing that the unprecedented era of innovation—the last 250 years or so since the industrial revolution—is going to be over soon, ending economic growth. Why should we care about economic growth? Because our well-being depends on it—the alternative is the subsistence living of the pre-industrial times. Human flourishing—nutritious food, better medicine, […]
The funny thing about the Labor Department’s monthly unemployment report is that the number-crunching bureaucrats act like they’re delivering high carat diamonds when the real worth of what they’re reporting is closer to the value of a mud pie. First, a college graduate with a degree in biomedical engineering who gets a $90,000 job in […]
One of the points of contention among the commentators on the U.S. presidential campaign is whether Mitt Romney’s business experience and success is an advantage, as those on the Republican side think or a source of guilt, as his critics argue. The Democratic critics have portrayed Romney as a heartless “robber baron” and an exploiter […]
Many people take government involvement in the economy for granted. They agree that government should, among other things, determine who business should hire (equal opportunity/affirmative action legislation), what and how to pay employees (minimum wage laws, insider trading laws) and how to protect their health and safety (health and safety regulations), with whom it can […]