Capitalism is being attacked not because it is inefficient or misgoverned but because it is cynical. And indeed a society based on the assertion that private vices become public benefits cannot endure, no matter how impeccable its logic, no matter how great its benefits. -- The Practice of Management (1954)
About this quote
- What does it mean?
- Capitalism is attacked for being cynical, not inefficient; private vices cannot justify public benefits.
- In plain terms
- Capitalism fails morally because it relies on selfishness, not because it lacks logic or efficiency.
- What can you take from it?
- Ensure economic systems have a moral foundation, not just efficiency.
Where it applies
Putting it to work
Questions to consider
- Can capitalism survive without moral justification?
- What defines a 'cynical' system?
Another view
Efficiency often drives policy even when morality is lacking.
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