Despite my recent bouts of amorous insanity. I still intend for this blog to take on other issues about how this world works and how it should work. Ms. Udall makes some excellent, if not uncomfortable, points about how Adam Smith would view the world today.
Maxine Udall 21st Century Regress
I especially like the idea of an autonomously moral being and by extension autonomously moral corporations. As a natural free-market fiscal conservative, it is difficult for me to argue that companies should operate for more than just stockholder's equity and that anything short of maximizing returns (not profits) is not in their best interest.
But there seems to be more to it than just that in today's business world. It appears that any corporate entity will take advantage of given circumstances to increase their wealth. This includes currying favors with government, placing barriers of entry to competition and using the "law" to get away with activities which may harm society or the future of society. Taking advantage of loopholes, or worse yet, helping to write laws that are only in your favor is akin to insisting on playing Monopoly with your own loaded dice and then sneering at others for not having the same "luck" as you do.
While I am mostly against government regulation, I believe that there is a place for government. That is, government officials are there to ensure fair play and that everyone has a chance to succeed. No more, no less. I don't believe that our current government structure is living up to that standard. Government officials are people too and they can be easily persuaded to go against the good of society as long as they can get away with it; as long as it is still within the rules.
What to do? I'm not sure. But something should be done.
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