Uncle Sam looks into a microscope and sees tiny CEOs and money. Uncle Sam: I seem to have created a shame-resistant strain of CEO.
Americans appear not to be capable of learning that the “free hand of the market” can not, does not, and will not trump human nature. Adam Smith’s vision of pure, laissez-faire capitalism leading to the optimal economic outcome for all participants is unrealistic precisely BECAUSE of human nature. CEO’s do not – are not supposed to – act for the benefit of society at large. They are responsible for acting in the best interest of the company and its owners, and that is what they will do. They tend also to be owners of the company, so that means acting in their OWN interest, which in turn means greed is given motive and opportunity. End of altruism, and end of story.
April 12, 2017