Virtues & Vices in Markets, Capitalism, Economics & Business

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Hand-picked for you from around the web + original articles published just on the Moral Markets site

Do Traditional Compliance Efforts Weaken Workers’ Moral Motivation?

“How can organizations actualize their employees’ ethical potential? It’s a question Carsten Tams has been tossing around recently. In his time helping companies with organizational design and cultural change, among other things, he’s come to believe that, in the right environment, people are quite capable, even eager, to conform with and uphold ethical norms. Behavioral science, specifically motivational science, offers valuable insights for how to harness employees’ best intentions.”

The Driving Force of Free Markets Is Empathy, not Greed

“are greed and unbridled selfishness really the driving forces of capitalism? Human self-interest is one—not the only—driving force of all human action. But this has nothing to do with a particular economic system. Rather, it is an anthropological constant. In capitalism, however, this self-interest is curbed by the fact that only the entrepreneur who prioritizes other people’s needs can be successful.”

Article written by the author of the book The Power of Capitalism; A Journey through Recent History across Five Continents (2018)

Greed vs. Self-Interest: Toward Markets Driven by Love

“‘When you see the greed and the concentration of power, did you ever have a moment of doubt about capitalism and whether greed is a good idea to run on?’ That question was famously asked by Phil Donahue to economist Milton Friedman in a popular exchange from 1979. If you’re a defender of free markets, it’s a question you’ve surely wrestled with. Friedman’s response is characteristically insightful and straightforward, and was recently captured in a short animated film from PolicyEd”

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