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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Longevity Genetics
If the economic meltdown of 2008 is any indicator, businesses will not always do what’s best for longevity. In fact, businesses proved that they will only act in their short-term best interest. Alan Greenspan made a sobering realization in his testimony to Congress on the matter. He basically said that the assumptions he had made and built up over his entire career about the market were wrong.