Friday, September 08, 2006

This has so much meaning

“Business has become the most powerful institution on the planet. The dominant institution in any society needs to take responsibility for the whole. Business, however, has not had such a tradition. This is a new role, not wellunderstood or accepted. Built on the concept of capitalism and free enterprise from the beginning was the assumption that the actions of many units of individual enterprise, responding to market forces and guided by the “invisible hand of Adam Smith, could somehow add up to desirable outcomes. However, in the last decade of the twentieth century, it has become clear that the “invisible hand” is faltering. It depends on the consensus of overarching meanings and values that are no longer present. So business has to adapt a tradition it has never been throughout the entire history of capitalism: to share responsibility for the whole. Every decision that is made, every action that is taken must be viewed in light of that responsibility.”

WILLIS HARMAN, cofounder of the World Business Academy

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