In the chapter in his book Thou Shall Prosper, entitled “Do Not Pursue Perfection,” Daniel Lapin assails many of the negative misconceptions that continue to thrive about business – and capitalism in general – and presents logical counterarguments that expose their flawed rationale, often using his extensive Judaic knowledge as a tool for analysis. Lapin covers a lot of ground in this chapter. I will address the subjects I found most compelling in this essay.
I found Lapin’s claim that we should not blame “business” because of a few unethical businesspeople particularly eloquent. He states: “Business is a tool of human cooperation, and like any tool, it can be misused and abused” (p. 131). He uses jailed Ponzi schemer Bernie Madoff as an
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This term was conferred upon industrial titans of the late 19th and early 20th centuries who were portrayed as having seized upon capitalism, running roughshod over the country and exploiting “the little man” with their unquenchable greed. To be sure, many of them were not angels; they were competitive and, at times, simply unscrupulous. But no one is all good or all bad. These tycoons built railroads, manufactured steel and refined oil that revolutionized our society and provided jobs to millions. In effect, they were responsible for raising the standard of living and ushered in an economic boom. These were builders, and much of their activity (at least on this scale) was unprecedented in American history. To paint the robber barons with a broad brush is to ignore the contributions to society that we enjoy to this day. Would we like to look back on them and see nothing benevolence, such as Andrew Carnegie’s remarkable gift to American libraries? Of course. But perfection is simply a concept, not …show more content…
I think business has suffered from an image problem for as long as I can recall, from being a breeding ground for greedy CEOs earning comically high salaries to bungled mergers to huge conglomerates that could care less about “the little guy.” Again, as Lapin would agree, these ills all exist. But we have reached a level where we assign humanistic qualities to corporations. This is plainly wrong. They are built to survive, and to do so in the most efficient manner possible. When they no longer work, they go by the wayside. Capitalism has transformed our nation on so many levels. While we have many different beliefs and values that are not always congruous with those around us, virtually everyone has a chance to succeed in the system – and we all benefit from it every day (even those who despise capitalism). I think to gain a true picture of business’s role in our society, one must read below the splashy headlines, then read another article with an opposing viewpoint, and occasionally play Devil’s Advocate. To understand business is to put aside assumptions and embrace rationality. In many ways, business is far more perfect than our society in the level of accountability it demands from its participants. If a business does not perform or earn money, it will eventually cease to exist. But because it seems so antithetical to the emotions and beliefs of many, it will forever be
Robber Barons are known as ruthless capitalist or industrialist of the late 19th century, known to have gain wealthyness by exploiting natural resources, corrupting legislators, or other unethical means. The Myth of the Robber Barons is a book about the entrepreneurs Cornelius Vanderbilt, James J. Hill, Andrew Mellon, Johne D. Rockefeller, the Scranton family, and Charles Schwab. Many in todays sociaty would argure that these men were all robber barons, but this book gives us a hole new look in the history of these men and there lives and all they did for the rise in the U.S economic power.
The Robber Barons, as they were called, were the kings of American Industry and American Society during the late 1800's and early 1900's. Rich beyond the average man's wildest dreams, these industrialists were often criticized for their philosophies and their ways of making money. Robber Barons can also be viewed as immoral, greedy, and corrupt, and the evidence to support such a view is not difficult to find. Bribery, illegal business practices, and cruelty to workers were not uncommon in this period, and many of the most respected industrialists were also the most feared and hated.
Based on the Gilded Age, literally meaning a layer of gold is displayed on the outside and once you look deeper past through the top layer of gold, you can identify that the robber barons are the culprit of the corruption in the government who monopolized the corporate America. Although, there is a great transition from the agricultural economy towards the rapid growth of the urban and industrial society, the robber barons created a lot of problems for much of the working class poor in America. The robber barons use the power they obtain through their wealth for their own advantage and try to repress any form of the spread of democracy and the regulation in the marketplace, its work safety, the labor laws, and the certain amount of work hours which followed thereafter witnessing of the homestead strikes that touched on the major issues of the American nation. Both Carnegie and John D. Rockefeller dominated giant corporations, but they dictated much of the employees and greatly tried to divide out the employees from desperately trying to organize the reforms that would essentially stop the robber barons from taking advantage of them. The robber barons insisted that if you cannot work the day you are supposed to other than the Fourth of July, some other person will be a willing participant to come and take your job.
These were the great men during their time. They took the American dream and made it come true. These were risk takers and men that recognized opportunity. The time after the Civil War saw the creation of an industrial business boom. These men were either in the right place at the right time, but no matter the reason they succeeded. The most important part is that they show us that with determination and patience you can make a life for yourself. These men were not selfish with there money. Carnegie and Rockefeller both gave millions upon millions of dollars to charities and other causes.
———. “Robber Barons or Captains of the Industry.” History Now. Accessed December 7, 2011. Last modified June 2010. http://www.gilderlehrman.org.
Michael Sandel is a distinguished political philosopher and a professor at Harvard University. Sandel is best known for his best known for his critique of John Rawls's A Theory of Justice. While he is an acclaimed professor if government, he has also delved deeply into the ethics of biotechnology. At Harvard, Sandel has taught a course called "Ethics, Biotechnology, and the Future of Human Nature" and from 2002 to 2005 he served on the President’s Council on Bioethics (Harvard University Department of Government, 2013). In 2007, Sandel published his book, The Case Against Perfection: Ethics in the Age of Genetic Engineering, in which he explains unethical implications biotechnology has and may have in the near future regarding genetic engineering.
Some of these industrialists’ methods may not have been fair. However, unfair acts are not always illegal acts. For the most part these men stayed within the boundaries of the law. In the cruel world we live in it is necessary to be ruthless in your work. There are several people who took their ruthlessness too far and contributed nothing to society but worked only for their own personal fortune. An example of this type of industrialist is Jay Gould (Maury Klein pg. 34). He is a robber baron in the truest sense of the word. However most of the powerful industrialists had financial goals for themselves as well as society.
In the gilded age (c. 1870-1900), "robber barons" were men who acquired fortune by ruthless means Half of the main business leaders were robber barons, which were Vanderbilt, Donald Trump, and Andrew Carnegie. There are also leaders called "captains of industry", who consisted of leaders like Rockefeller, J. Morgan, and also Bill Gates. Captains of industry worked hard and actually helped the economy instead of robber barons who insisted on achieving wealth by being ruthless businessman.
During the 1800’s, business leaders who built their affluence by stealing and bribing public officials to propose laws in their favor were known as “robber barons”. J.P. Morgan, a banker, financed the restructuring of railroads, insurance companies, and banks. In addition, Andrew Carnegie, the steel king, disliked monopolistic trusts. Nonetheless, ruthlessly destroying the businesses and lives of many people merely for personal profit; Carnegie attained a level of dominance and wealth never before seen in American history, but was only able to obtain this through acts that were dishonest and oftentimes, illicit. Document D resentfully emphasizes the alleged capacity of the corrupt industrialists. In the picture illustrated, panic-stricken people pay acknowledgment to the lordly tycoons. Correlating to this political cartoon, in 1900, Carnegie was willing to sell his holdings of his company. During the time Morgan was manufacturing
More often than not, America’s antebellum capitalists are accused of being the “robber barons” of industrial America. The misconception is that these men took advantage of a naïve and growing economy and reaped its benefits without giving anything in return. True, the majority of America was poor in comparison to the few elites, but the philanthropist efforts and contributions of these men can not be denied. If not for these men and their efforts, there would have been no one to pave the road to America’s industrial domination.
Modern living depends on businesses in order for society to function. Within The Devil and Tom Walker, Washington Irving
The purpose of a business within in society and its role within the communities it operates diminishes in importance - as does the health and well-being of employees – and profit becomes the only measure of value. In this paradigm, corporations are no longer accountable for the moral, political, social or environmental
This is true, but according to the pope in Centesimus Annus, the business will be truly successful if they place more emphasis on the following topics: placing more stress on worker to worker relations, the dignity of work, and the developing of skills as well as virtue. The pope first stresses his argument in section 35 saying " It is possible for the financial accounts to be in order a yet for the people, who make up the firms most valuable asset, to be humiliated... the purpose of a business firm is not simply to make profit, but is to be found in it's very existence as a community of persons." This restates his conclusion, saying that of course the purpose is to make a profit, but the workers must all be able to work together and be paid well, and not have their dignity revoked.
The first discussion question posed was, “How does Dr. Friedman characterize discussions on the “social responsibilities of business”? Why (Jennings, 2009, p. 79)? Friedman (1970) characterized the discussions on social responsibilities as one hundred percent unadulterated socialism. Friedman (1970) characterized these discussions in that manner because he felt that a corporate executive should focus solely on making profits and not on social aspects. He mentioned how people who conduct and express themselves in this fashion are positively reinforcing and supporting the actions of individuals that have been weakening the foundational blocks of free society. Friedman (1970) posed a question which was the crux of his 1970 article “The Social Responsibility of Business is to Increase its Profits” where he investigated the true contextual meaning of what responsibilities mean to businesses. Friedman describes how businesses cann...
According to Wilson (2004, Vol.23, p. 23) arguments, the nature of existence for business or corporations should be 'everything to do with service to society, and only secondarily to do with profitability.' But this is quite on the contrary to the apparently antediluvian view put forward by corporate executives Friedman and Levitt (cited in Wilson, 2004, Vol.23, p. 23) highlighting '.the business of business is making money, not sweet music.' So why is there discrepancy between the ideal view of business and which should be placed under higher priority the shareholders or stakeholders (society). To understand both points of view we need to identify the party's involved and the relationship they have to the business and business operations.