Ethics, self-interest, and the public good - Page 30 |
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28 Ethics, Self- Interest, and the Public Good 32 Sacks, Morals and Markets p. 24 33 Ibid pp. 23– 24 34 “ KPMG for Mayor!: Corporations could do a good job of running corrupt Third World governments,” March 26, 2007, p. 40 of Great Britain and the United Kingdom, has written: “ What then might be the lesson of [ Friedrich von Hayek’s] The Fatal Conceit for our time? That socialism is not the only enemy of the market economy. Another enemy, all the more powerful for its recent global triumph, is the market economy itself. When everything that matters can be bought and sold, when commitments can be broken because they are no longer to our advantage, when shopping becomes salvation and advertising slogans become our litany, when our worth is measured by how much we earn and spend, then the market is destroying the very virtues on which in the long run it depends.” 32 And Rabbi Sacks goes on to write: “ The concept of the holy is precisely the domain in which the worth of things is not judged by their market price or economic value. And this fundamental insight of Judaism is all the more striking given its respect for the market within the market- place. The “ fatal conceit” for Judaism, as for Hayek, is to believe that the market governs the totality of our lives, when it in fact governs only a limited part of it, that which concerns goods which we think of as being subject to pro-duction and exchange. There are things fundamental to being human that we do not produce; instead we receive from those who came before us and from God Himself. And there are things which we may not exchange, however high the price.” 33 A recent opinion piece in Forbes Magazine 34 by Eric Werker, a Harvard Business School assistant professor, takes the opposite position, suggesting that
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Title | Ethics, self-interest, and the public good - Page 30 |
Full Text | 28 Ethics, Self- Interest, and the Public Good 32 Sacks, Morals and Markets p. 24 33 Ibid pp. 23– 24 34 “ KPMG for Mayor!: Corporations could do a good job of running corrupt Third World governments,” March 26, 2007, p. 40 of Great Britain and the United Kingdom, has written: “ What then might be the lesson of [ Friedrich von Hayek’s] The Fatal Conceit for our time? That socialism is not the only enemy of the market economy. Another enemy, all the more powerful for its recent global triumph, is the market economy itself. When everything that matters can be bought and sold, when commitments can be broken because they are no longer to our advantage, when shopping becomes salvation and advertising slogans become our litany, when our worth is measured by how much we earn and spend, then the market is destroying the very virtues on which in the long run it depends.” 32 And Rabbi Sacks goes on to write: “ The concept of the holy is precisely the domain in which the worth of things is not judged by their market price or economic value. And this fundamental insight of Judaism is all the more striking given its respect for the market within the market- place. The “ fatal conceit” for Judaism, as for Hayek, is to believe that the market governs the totality of our lives, when it in fact governs only a limited part of it, that which concerns goods which we think of as being subject to pro-duction and exchange. There are things fundamental to being human that we do not produce; instead we receive from those who came before us and from God Himself. And there are things which we may not exchange, however high the price.” 33 A recent opinion piece in Forbes Magazine 34 by Eric Werker, a Harvard Business School assistant professor, takes the opposite position, suggesting that |