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Economists routinely start textbooks by asserting that Economics is not about morality. They say that Right and Wrong is for religions; Economics is a Science.
by NPMaxwell 8y ago
Economists routinely start textbooks by asserting that Economics is not about morality. They say that Right and Wrong is for religions; Economics is a Science. In the late 20th century, the idea that corporations served stakeholders was replaced by the claim that the only purpose of corporations was to serve stockholders. In spite of their shame and coyness, Economics and Stockholders-First promoted ethical systems, making claims of Right and Wrong. Statements that it is a "moral requirement" to "sell the product for the highest price" is just honest reporting on what is taught in colleges and business schools. Although, you probably won't be able to find a direct quote making such a claim. Instead, you will find loose usage of terms like "should" or "is expected to", as in "market players should maximize profits", or "corporations are expected to maximize return on investment."