Wednesday, May 24, 2006

Corporate Responsibility

Here is my amended, slightly truncated and re-ordered version of Michael Novak's list as reported by Cantillon's Paradise:

1. To satisfy customers with goods and services of real value.

2. Make a reasonable return on the funds entrusted to the business corporation by its investors.

3. To create new jobs (where this does not conflict with responsibility number 1).

4. To promote invention, ingenuity, and in general, "progress in the arts and useful sciences".

5. To defeat envy through generating upward mobility and putting empirical ground under the conviction that hard work and talent are fairly rewarded.

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