Wednesday, June 13, 2007

Self Interest, Business Ethics, Ayn Rand, Egoism, Individualism

Are self interest and morality opposed to one another?  Many individuals attempt to make other individuals believe that this is so.  I don’t think that the two are opposed.

Are ethics concerned with self interest when considered from a business standpoint?  Is egoism bad?

Stephen Hicks, Ph.D has cast his mind to the above questions, and more, in an essay he has penned titled Ayn Rand and Contemporary Business Ethics.

The essay is 26 pages long, and in a pdf format, but provides excellent reading for the thinking individual.  You can download it here.

Below follow a few choice excerpts.  Though I think the entire essay should be posted and spread far and wide.

My purpose in this essay is to defend the egoism that the business world depends upon. Business is about production and trade. Production is a consequence of individuals taking responsibility for their lives and exercising rational judgment about their needs and how to fulfill them. Trade is a consequence of productive individuals. willingness to interact cooperatively to mutual benefit. These principles, responsibility, rationality, cooperation, are core principles in any healthy moral system, and form the core principles of the business world.

And this.

Of course not all individuals in the business world act responsibly, rationally, and cooperatively. Such problem cases are, however, aberrations.  Business exists and flourishes to the extent individuals in the business world are productive and cooperative, so the major part of business ethics should be about what principles enable individuals to function productively and cooperatively.  But because of the problems that can be created by irresponsible, irrational, and uncooperative individuals, part of business ethics deals with how productive individuals should solve the problems caused by the irresponsible.

And this.

Individualism is built into the nature of human life.

More, and very important to note.

Groups don’t do things; the individuals in the group do.

Another important point.

In summary, the case for individualism is that only individuals think, only individuals know, only individuals act, and only individuals can consume the product of their actions. In other words, human life is individual.  Individuals are both the producers of value and the consumers of value.  Individuals are both the means of value seeking and the end of that value seeking. Others may assist or interfere in the process, but they cannot live your life for you.

As I mentioned, this is an excellent essay and should be disseminated far and wide.

Posted by John Venlet on 06/13 at 10:19 AM
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