You have to make ethical values the source of economic value.
#WILLIAM OF OCKHAM RAZOR HOW TO#
The reality is that there is only one simple solution to the problem of how to make a sustainable profit in a capitalist, democratic society. We get rich through financial markets that have turned into a reliable casino, rather than by investing in the creation of new products and services in ways that create jobs and expand markets. We make money with money, not with products and services. This little tweak-the focus on the short term-has snowballed into massive income inequality and a society addicted to its own financial sector. They are looking twenty years ahead down the New Silk Road. The Chinese know how to wait for results. Not two or three or ten years into the future. Shareholder primacy became simple because we tweaked it with the words short-term. And is fast money ever a good thing? That’s an ethical question we have conveniently forgotten. You make the shareholder the only beneficiary who counts, and you do everything to reward him or her as fast as possible.
There’s a clarity about who is the winner when you define business this way. It all comes down to a number you measure four times a year. Everything you do is measured by how much more profit you can make from quarter to quarter.
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