Business & Investment

George Pitcher: What space remains for true human value in business?

All American children of Ivy League parents would have read the Christmas story by short story writer O. Henry.

It tells us that the poorlyweds Della and Jim want to buy Christmas gifts for each other. There, Della sells a bunch of long hair and uses the money to buy a watch chain from the gym.

At their poor dinner that night, she discovers that Jim sold his watch to buy a set of combs for her hair. Therefore, there are gifts that cannot be used either, and I realize how precious love for each other is.

Business ethics: Mark Carney, former governor of the Bank of England and the Bank of Canada, argued that the principle of market value capitalism overturned our human value.

This sentimental little story was re-told by Mark Carney early in this emergence and began his amazing series of wreath lectures for the BBC.

Here is the central banker, the former Governor of the Bank of England, and the Bank of Canada, who claim that the principle of capitalist market value exceeds our human value, so I say “amazing”. To use.

Frankly, banks can be a little humble if they serve the social and economic objectives of all of us.

His contribution adds the feeling that this Christmas can never be the same again. It is permissible to greet the idea with all your heart. The concept of a permanent break with the past and the wide sunlit highland outlook in a brave new world are the straws we grab in the midst of international crises and turbulent winds.

I heard that the Berlin Wall collapsed just before Christmas 1989. I heard it again on Christmas 2008 in the midst of the global financial crisis. And now, on Christmas 2020, I’ve heard again that nothing is the same again as a result of this Covid pandemic.

However, as old habits returned after 1989 and 2008, many of us sighed a tired “plus ca change”, and after these blockades, the usual greedy capitalist practices. I think will resume.

Perhaps this time it’s overly ironic. That’s because Kearney isn’t the only one questioning the superiority of financial markets. We know that the times are really changing when Martin Wolf concludes this month in the Financial Times that market hegemony high priest Milton Friedman was wrong.

Ruth Sunderland of this treatise argued that this fall, the actions of some companies during the pandemic indicate that “50 years later, it’s time to leave Friedman behind.”

Corporate runes are something to read. It’s not just the tragic sight of the once magical retail empire of Arcadia collapsing and its creator, Sir Philip Green, taking on the work of about 13,000 people while on a yacht.

Previously favorable retail groups such as John Lewis and Corp were also morally inadequate and could not return Covid’s business rate bailouts to Exchequer.

Part of the problem is that old-style top-down business owners very often don’t know what business ethics are. When booking a long-haul flight for Christmas 2023 to New York, the director will install a bike rack at work and recycle office paper.

But the real challenge is to promote ethical behavior at all levels, democratize virtues and create a culture that grows from the organization’s staff base. Virtue ethics came from classical Greek schools and became widespread for thousands of years before the 17th century Enlightenment wiped them out.

They are all about personality: not “what should I do?” But questions about individual values. – Inquiries about rules and regulations.

From bottom to top, we won’t break a significant difference in corporate behavior until we all know how to make good faith decisions.

There is no better way to manage value from the bottom up than the Christmas story. The top boss, the creator of the entire universe, reveals the ultimate power of humanity in vulnerable babies born between animals and oppressed people.

From the perspective of the common good, this event really changed everything. The same thing will never happen again. This is a bottom-up management task.

And what is the corporate slogan that came out of it? “Love your neighbor like yourself.” Today, with the white noise of health restrictions and the promise of companies dealing with employees, customers, and a wider community, it’s the core value of this Covid Christmas. It continues to exist.

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George Pitcher: What space remains for true human value in business? George Pitcher: What space remains for true human value in business?

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