Will a business always do what’s in its long-term best interests to assure its longevity?
Martian King asked:
There’s an economic philosophy which states, in effect, businesses don’t need too much regulation because they “won’t do anything to jeopardize their longevity and profits [paraphrased].” Meaning, business leaders will always avoid corrupt or “socially irresponsible” behavior such as fraud or hazardous pollution of the environment.
There’s an economic philosophy which states, in effect, businesses don’t need too much regulation because they “won’t do anything to jeopardize their longevity and profits [paraphrased].” Meaning, business leaders will always avoid corrupt or “socially irresponsible” behavior such as fraud or hazardous pollution of the environment.
Based on history, is this philosophy true?
Please provide sources or actual proof for your claim.
Thanks, “Snapper”, and can you cite the specific Greenspan congressional testimony, please? Date, phrase, anything appreciated?
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