Social Economics

At this point in time, anyone who takes a good, long, hard look at the passing scene should be able to detect at least two relatively recent developments touching upon the relationship between economics and morality. For example, it has been noted that the modern entrepreneur is being urged with increasing fervor to commit both himself and the resources of his firm to the solution of contemporary social problems which have both an economic and a moral dimension. This kind of exhortation comes from both within and without the business community. The tone of the new approach was sounded by Mr. Amory Hough ton, Jr., a top executive of the Corning Glass Works, who stated the latter-day business credo in a speech delivered at the Episcopal Theo? logical School in Cambridge, Mass. in June, 1967. I believe there is no irreconcilability between operating a business strongly, efficiently and profitably, and operating it with a Christian sense of social responsi? bility.1 Speaking as President of the United States Chamber of Commerce, Mr. M. A. Wright, Chairman of the Board of the Humble Oil and Re? fining Co., told his audience that: The business community's involvement with social problems must take on a new look. Businessmen can no longer afford to restrict their efforts to supplying money and criticism. In the search for solutions to these problems, they must bring into play their leader? ship and their analytical capabilities. They must help devise new and better approaches to the existing public programs. In short, businessmen have no practical choice but to insist that social prob? lems be given the same careful analytical treatment that business uses in solving its own problems.2

Commit · Criticism · Epistemology · Meaning (existential) · Political science · Relevance (law) · Reverence · Sociology · Wright · Computer Science · Economic Theory and Institutions · Law · Philosophy

• The scope and method of political economy

  John Neville Keynes•The scope and method of political…•1897

  Add to list