Lecture 6 - The Free Market The Case for Pure Profit...

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The Free Market The Case for Pure Profit Maximization Why it might make sense to have firms pursuing their narrow self- interest… one conception of social responsibility.
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The Free Market The Case for Pure Profit Maximization Adam Smith (1723 – 1790) Smith was one of those 18th century Scottish moral philosophers whose impulses led to our modern day theories; his work marks the breakthrough of an evolutionary approach which has progressively displaced the stationary Aristotelian view.
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The Free Market Relying on the tools of economics as a way of evaluating corporate behavior is not safe from ethical implications and political implications.
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The Free Market The virtues and values of allowing business to pursue it own self interest with a short discussion. Why is the free market a good way of organizing an economy?
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The Free Market Efficient Reward Innovation Freedom of choice Market is impersonal – fairness The greatest good for the greatest number
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The Wonderful World of Adam Smith Historical Context: What Was the Justification of Exchange Relationships? Enter Mr. Smith The Wealth of Nations: Smith’s Context and Selected Parts A Jump into Modern Times: Defending Walmart Some Concluding Thoughts: Smith as a Moral Philosopher and then some
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of Exchange Relationships? Middle Ages to the 1500s
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Lecture 6 - The Free Market The Case for Pure Profit...

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