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The more our commercial system gains in complication, the more does the common prosperity of us all come to depend upon the due performance of all contracts. Commercial development is broadly illustrating one profound truth: that the real basis of social morality is self-interest. If the subject of rivalry between nations is business, the code which has come to dominate business must necessarily come to dominate the conduct of governments.

Norman Angell#8

EconomyTradeBusinessCommerceMorality

About this quote

What does it mean?
Commercial complexity ties prosperity to contracts, making self-interest the basis of social morality.
In plain terms
Our trade system depends on keeping promises, so self-interest helps society.
What can you take from it?
Self-interest in business drives social morality.

Where it applies

  • trade policy
  • economic planning
  • business ethics

Putting it to work

  • strengthen contract law
  • promote trade
  • align incentives

Questions to consider

  • Does self-interest create morality?
  • How does trade affect government conduct?

Another view

Self-interest does not always align with broader social good.

More from Norman Angell

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  3. The prosperity of a people depends upon such facts as the natural wealth of the country in which they live, their social discipline and industrial character, t…

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