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Markets, policy and sociology of economic immorality January 16, 2016

Posted by OromianEconomist in Uncategorized.
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Odaa OromooTrickle down economicsEconomic performance and size of government

 

 

In a society in which the money-maker has had no serious rival for repute and honor, the word ‘practical’ comes to mean useful for private gain, and ‘common sense,’ the sense to get ahead financially. The pursuit of the moneyed life is the commanding value, in relation to which the influence of other values has declined, so men easily become morally ruthless in the pursuit of easy money and fast estate-building…
A society that is in its higher circles and on its middle levels widely believed to be a network of smart rackets does not produce men with an inner moral sense; a society that is merely expedient does not produce men of conscience. A society that narrows the meaning of ‘success’ to the big money and in its terms condemns failure as the chief vice, raising money to the plane of absolute value, will produce the sharp operator and the shady deal. Blessed are the cynical, for only they have what it takes to succeed.” – (C.Wright Mills 1956).   Source:  Markets, policy and sociology of economic immorality by Oleg Komlik

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