With all the issues surrounding our Global Financial picture does self interest still work as the basis of our current system? Adam Smith first came up with the concept of Capitalism & it’s underlying values.
From the Federal Reserve Bank of St Louis Webpage: “A market economy is an economic system in which individuals own most of the resources – land, labor, and capital – and control their use through voluntary decisions made in the marketplace. It is a system in which the government plays a small role. In this type of economy, two forces – self-interest and competition – play a very important role. The role of self interest and competition was described by economist Adam Smith over 200 years ago and still serves as foundational to our understanding of how market economies function.”
Maximization of profit is the goal of our major corporations, is that a sustainable model?
Is there another way & might that actually be in our long term interest?
Listen to what a successful business-woman has to say on the topic: