I read David Brooks today, and call me crazy, I think that this conservative guy is slowly becoming liberal. I will thank Trump for that, but more importantly, I welcome David to the party.
I took the point of his piece, which was that America business needs to get its morality back in check. Think about employees, customers, and the communities they exist in, and not just the bottom line, shareholders, and stock value.
Is this the first crack in the Conservative love of all things that came out of Milton Friedman’s mouth?
I have held, and said many times, that Friedman’s approach and the way he viewed capitalism was destructive to all of us. I always felt that Friedman’s failure was rooted in the idea that an individual or corporation would “pay by the rules” in their quest for capital, and no one would cheat. The truth of the matter is that if there is money to be made, someone, inevitably will cheat, and someone gets hurt.
Also, Friedman thought that governments should get out of the way and let companies do what they do. He thought all companies would want deregulation, but what he missed was that companies want regulation on everyone else, just not them. That’s why there is a weird revolving door with CEOs and executives getting named as heads of regulation organizations. (FCC, FDA, ect…)
In a philosophical sense, I believe that all economics are based in emotions and not in logic. Economies are not math, it is not a science; it is completely man made, and as such, will behave illogically often to meet its desired ends. To put a morality on top of capitalism is a neat idea, and to do that, you need some agreed upon regulations.
Welcome to the party, David.