Category: business ethics

Herbal Supplements, An Ethical Sell?

On By southwerkIn business ethics

Chris MacDonald explains his opinion on the sales hype for herbal supplements. He’s critical and rightly so. I have walked down those isles in this store and that, seen every kind of cure promised, and seen many a strange concoction. I’ve gotten upset over the likely extinction of tigers because Chinese folk medicine claims it enhances male sexual potency. Walking through a store full of herbal supplements destroys any idea that Americans might be smarter. The best thing you can say about some of these “remedies” is at least they don’t kill tigers for them.

MacDonald mentioned an article by Katherine Harmon in Scientific American. It’s a great read. I’d check it out too.

Student Loan Debt, A Crisis?

On By southwerkIn business ethics

Student Loan Debt, A Crisis?

Rod Dreher writes about student loans and prudent educational expenditures. (He doesn’t think loans are a good idea.)

At the time I read his musing there were more than forty comments. You should give those a look, very perceptive comments, not what I find on many web sites. (I am most fortunate with the comments on mine.)

I am less than impressed by the student loan system in the United States.

(I was going to write this great big article talking about all the problems and incredible stupidity in paying for education this way and then, I thought about it. We can’t stop banks from gambling on $600,000,000,000 of derivatives. [World GNP is about 60 trillion] They can destroy our way of life, our entire economy, and the rest of the worlds leaving only subsistence farming. We can’t do that. What chance is there to protect students just out of high school from banking predators? There isn’t any. They are sheep. They live only to be sheared. They have no protectors, no legislators, no federal agency, and no public concern. What point is there is me telling you how foolish this is? I can’t think of any.)
jp

The Economic Indicators That Matter

On By southwerkIn business ethics

The Economic Indicators That Matter

Jon Talton admits that unemployment is a serious problem and an indicator of economic health but he wants to be sure that appropriate attention is focused on wages and incomes. His concern is highlighted by a USA Today study that indicates that private sector pay checks are at the lowest level of proportion of income in history.

I would ask the following questions – Can a nation prosper continually seeking the cheapest labor? Can a nation prosper when jobs are continuously cycled outside the country? Can a nation prosper if over time a larger and larger proportion of its workers are temps, sub-contractors, or part timers?

What happens when there are no manufacturing jobs here? What will happen when income continues to drop? How will the nation pay for things? What will we do for a tax base? What will we do if we go to war and we can’t make anything? Can we throw money or perhaps credit cards at an advancing army with tanks and planes and expect them to leave?

Do you really want to live in a country where the only jobs are service industry jobs that cater to fewer and fewer people as incomes drop?

Can  we do something different here in the United States besides letting this happen?

jp

Authenticity

On By southwerkIn business ethics

Chris MacDonald writes on The Business Ethics Blog (his site), that the meaning of authenticity when it comes to advertising seems to be anything but precise. He mentions a book called The Authenticity Hoax, that has a similar argument.

I find MacDonald’s analysis interesting and recommend the entry to your consideration.

I looked up Andrew Potter. The author of The Authenticity Hoax has been called – One of Canada’s hippest, smartest cultural critics. (His book is currently 19.95 on Amazon.) Mr. Potter writes a regular column for Macleans. You can find it here.

JP

Should Shareholders Vote With Their Feet?

On By southwerkIn business ethics, Government Failure2 Comments

Loren Steffy says that has no effect. And as usual, he’s right. The current system of corporate governance effectively cuts the actual owners of a corporation out of any influence over who runs their corporation as well as all other decision.

Corporations are creatures of the law. They are statutory creations. If we as citizens of  the United States as well as being citizens of individual states (that do the chartering of corporations) want to change the rules, we can. But there has to be some political will.

Let me lay out for you this utterly radical thought. I believe that –

THE PEOPLE WHO OWN THE CORPORATIONS SHOULD HAVE SAY IN HOW THEY ARE MANAGED.

What do you think? Does that make me a communist? I think I am a purer capitalist than many in the business world because I actually believe in private property in a way they can’t wrap their minds around. If you own part of a company, why should your wishes be ignored because of the way the law and the organization are structured?

Shareholders should be primary factors in determining who runs the company and how the company is managed.

Selections of the CEO and the Board of Directors should require shareholder ratification. Executive compensation packages should require ratification by the shareholders. Shareholder meetings should be conducted electronically on a regular basis far more often than the once a year mandated now.

It’s one thing to talk about free market capitalism and then not do it. That’s wretched hypocrisy. Let’s talk about it capitalism sincerely and act on our beliefs. To make capitalism a reality in the corporate board rooms of the United States we would have to make a connection between ownership and power. Why should CEO’s appointed without shareholder input and acting in opposition to shareholder wishes, be able to make their own policy, and choose their own boards. They are essentially acting as if the corporation was their personal plaything and not a duty to the real owners.

We can do better.

James Pilant

BP Poll!

On By southwerkIn business ethics

Should British Petroleum be banned from the United States. Loren Steffy on his blog is conducting a poll on that subject. Maybe you’d like to vote. Check it out. (You have until June 2nd.)

Maybe A First Step Toward Financial Reform?

On By southwerkIn business ethics, Government Failure

Alain Sherter writes for BNET that perhaps what we should be looking for is a series of steps toward financial reform over a period of years instead of feeling that the very modest financial reform bill passed by Congress is the end of the process.

That’s very optimistic on his part. I consider a solid victory for wall street, a humiliating defeat for the nation and its people. This charade of public concern, private deal making and campaign fund collection demonstrates why American democracy is disintegrating in the face of corporate money.

Here’s the kind of leadership we need and deserve instead of the bloodless passionless leadership we have.

What Are The Ethical Questions Surrounding The Gulf Tragedy?

On By southwerkIn business ethics, Teaching1 Comment

Chris MacDonald answers that with a barrage of ethical questions designed to inspire creative thinking on the part of the reader.

Here’s a little bit about Mr. MacDonald’s career and qualifications.

I wanted to put up a video of Mr. MacDonald talking about business ethics. However, Chris MacDonald is a common name. After looking at a famous cyclist, a famous Elvis impersonator, the country singer, the graphic designer, and the meteorologist, I decided to concede defeat. However, since I like including videos, I have one for Chris MacDonald the country singer. He is doing This land is your land, this land is my land. As far as I know he has no connection with Chris MacDonald the ethicist.

Matt Taibbi Is Mad

On By southwerkIn business ethics

Matt Taibbi is angry. The reform bill on the financial industry is a sham and he’s going to let everybody know.

Mr. Taibbi has the same contempt for the way things are done in the government and private business that I do. Whatever makes the most money is the only consideration. It takes a lot of dead people or an incredible catastrophe to get the government to react or private industry to change course.

Here’s Matt venting about Goldman Sachs.

John Boozman Responds To My Concerns Over Net Neutrality

On By southwerkIn business ethics

This is the text.

Dear Mr. Pilant,

Thank you for contacting me to express your support for “network neutrality”. It is always good to hear from you.

“Network neutrality” means that the owners of the networks that create and provide access to the Internet should not control how consumers lawfully use that network, and they should not be able to discriminate against content provider access to that network. Proponents of increased regulations argue that more specific regulatory guidelines may be necessary to protect the marketplace from potential abuses. Opponents, however, insist that existing laws and Federal Communications Commission (FCC) policies are adequate to deal with anticompetitive behavior and that more regulations would have negative effects on the Internet’s future development and expansion.

In the current Congress, Congressman Edward Markey (D-MA) introduced a piece of legislation, H.R. 3458 that would implement the principle of “network neutrality.” The “Internet Freedom Preservation Act” was introduced on July 31, 2009 and is currently under review by the House Committee on Energy and Commerce. I agree with you that it is imperative that consumers continue to be able to freely access content on the Internet, regardless of their server provider. However, I have concerns that H.R. 3458 would increase the demand for bandwidth while reducing the supply and, as a result, the Internet would have significantly more congestion. Congress has a duty to see that our laws are fair, not only to the companies involved, but also to citizens across the nation that use technology every day. Please be assured I will keep your thoughts in mind as we continue to debate telecommunications issues.

Again, thank you for contacting me on this very important issue.  Please be sure to visit our website at www.boozman.house.gov.  I look forward to your continued correspondence.

Sincerely,

John Boozman
Member of Congress

This is John Boozman’s ad for his Senate campaign. I do not favor his candidacy but he responded politely and intelligently to my inquiry. This kind of conduct is important in a democracy, so I include his ad.