Part I Profit-Seeking
The Johnson & Johnson Credo says in part, “We believe our first responsibility is to the doctors, nurses, and patients. . . . Our final responsibility is to our stockholders. Business must make a sound profit” (Bowie, p. 18). Final here does not mean last but not least; nor does it mean first among equals. Instead, this credo, which I contend is tailored for marketing purposes, denies the residual profits feature of commercial property rights. To place a cap on profit such that the residual can go to stakeholders without the majority and minority owners’ approval is to violate property rights in favor of redistribution.
Part II Nietzsche
Nietzsche contends that modern ethicists seek to impose their Thou Shalt Not in order to dominate the strong out of weakness. The normative subterfuge used by these new birds of prey masks their hypertropic (exaggerated) instinct to dominate. Whereas the strong naturally dominate, the weak who feel compelled to do so must resort to subterranean means in order to beguile the strong into renouncing their native strength. Imagine, for example, a wan-looking business ethicist in a small academic office trying to dominate Donald Trump, Bill Gates, or Warren Buffet, for instance. Nietzsche wonders how in the hell the strong ever got roped into being ashamed of their strength by the sordid moralists whose instinct to dominate is somehow immune from such shame.
Part III Fiduciary Duty
“A growing number of business experts advocate adjusting the conventional view of a company’s purpose—to generate wealth for its stockholders—to a more holistic view that recognizes that business doesn’t operate in a vacuum. Everything a business does affects someone somewhere—not just the stockholders—and those other someones deserve consideration from every business that affects them” (Bowie, p. 14).
The Johnson & Johnson Credo says in part, “We believe our first responsibility is to the doctors, nurses, and patients. . . . Our final responsibility is to our stockholders. Business must make a sound profit” (Bowie, p. 18). Final here does not mean last but not least; nor does it mean first among equals. Instead, this credo, which I contend is tailored for marketing purposes, denies the residual profits feature of commercial property rights. To place a cap on profit such that the residual can go to stakeholders without the majority and minority owners’ approval is to violate property rights in favor of redistribution.
Part II Nietzsche
Nietzsche contends that modern ethicists seek to impose their Thou Shalt Not in order to dominate the strong out of weakness. The normative subterfuge used by these new birds of prey masks their hypertropic (exaggerated) instinct to dominate. Whereas the strong naturally dominate, the weak who feel compelled to do so must resort to subterranean means in order to beguile the strong into renouncing their native strength. Imagine, for example, a wan-looking business ethicist in a small academic office trying to dominate Donald Trump, Bill Gates, or Warren Buffet, for instance. Nietzsche wonders how in the hell the strong ever got roped into being ashamed of their strength by the sordid moralists whose instinct to dominate is somehow immune from such shame.
Part III Fiduciary Duty
“A growing number of business experts advocate adjusting the conventional view of a company’s purpose—to generate wealth for its stockholders—to a more holistic view that recognizes that business doesn’t operate in a vacuum. Everything a business does affects someone somewhere—not just the stockholders—and those other someones deserve consideration from every business that affects them” (Bowie, p. 14).
The full essay is at "The Stakeholder Subterfuge." See also the book, On the Arrogance of False Entitlement: A Nietzschean Critique of Business Ethics and Management. Both are available at Amazon.
