Source: EconLog
by Gregory Robinson
“It is not trite to say that businesses are only as good or as bad as their members. Businesses are, after all, human endeavors, and their success or failure depends on the competence and good will of their members. Yet the assaults on hierarchical firms and market economies, often in the form of philippics that seem ceaselessly to gush forth from news media, Hollywood, and beyond, often have little to say about the particular nature of firms and their members, except perhaps to single out a few bad actors in a firm’s C-suite. One hears so much about how businesses are greedy, selfish, wasteful, and evil, with little reference to the nature and value of firms, that one might understandably begin to think that business itself, among human institutions, is especially susceptible to grave immorality. Not so.” (10/07/24)
https://www.econlib.org/library/columns/y2024/robsonbusiness.html