A Manager’s Moral Obligation to Preserve Capitalism

Harvard Business School’s Rebecca M. Henderson and Karthik Ramanna argue that company managers have a moral obligation to preserve capitalism.

Michael Blanding, Karthik Ramanna, Rebecca M. Henderson

Capitalism has two powerful things going for it. First, it has been shown to be incredibly effective in leading to economic growth. …Second, capitalism tends to be self-correcting. When the free market does fail, the market itself steps in to correct the problem. …But that doesn’t mean markets always work to self-correct structural problems. The snag, as Adam Smith first identified in The Wealth of … [ Read more ]