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800-CEO-READ Blog: Is Capitalism Basically an Immoral and Selfish System?

800-CEO-READ Blog: Is Capitalism Basically an Immoral and Selfish System?

by Rick Turoczy on September 29, 2005

Playing by these “new” but morally bereft rules has cost billions of dollars for shareholders, lost jobs and retirement funds for employees, and lost commerce for the merchants and others who did business with the firms which have failed. But these criminals have done great damage to the most precious commodity of all – trust in the system. Investor confidence is a fragile commodity and must be carefully nurtured. Sarbanes-Oxley solutions and other earlier reforms and regulations are one reaction. But legal solutions will never address the core issue: the quality of the moral sense of the individual capitalist.

It is time to deliberately train business leaders to think in this way before their worldviews are “baked in”. The most important skills for our collective well-being are moral competencies—honesty, responsibility, compassion and forgiveness and an underlying worldview that guides these human actions. All cultures around the world agree that these are universal virtues – and we certainly believe that they can be taught to our young. But it takes more than a family to teach these beliefs – it takes a global village!

800-CEO-READ Blog: Is Capitalism Basically an Immoral and Selfish System?

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