In Defense of Advertising is a theoretical defense based on the philosophy of Ayn Rand and the economics of Ludwig von Mises. It argues that the proper foundations of advertising are reason, ethical egoism, and laissez-faire capitalism. Its theme is that the social and economic criticisms of advertising are false because they are based on a false philosophic and economic world view. Only an alternative world view can refute the charges and put forth a positive moral evaluation of advertising's role in human life. The author defends advertising because it appeals to the rational self-interest of consumers for the rationally selfish, profit-making gain of the capitalists.
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Shareholder control over large corporations is worryingly weak and the unrestrained hunt for profits is taking a toll on the environment and society. In Corpocracy, corporate lawyer, venture capitalist, and shareholder activist Robert Monks reveals how corporations abuse their power and what we the people must do to rein them in. In a clear and careful analysis, Monks outlines a plan for reconciling the competing interests of corporations and society through thoughtful shareholder activism.
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Contents: introduction to business ethics, legal philosophies, & the judicial & legislative process; litigation, alternate dispute resolution, & the administrative process; business crimes, business torts, & contracts; constitutional law; corporate law; employment law (employment discrimination); consumerism & environmental regulation; securities law & antitrust policy (restraints of trade & monopoly; mergers; securities regulation); international business (transnational trade). Includes chapter overviews, margin definitions, linkage of law & ethics, & hypothetical cases & questions. Glossary & index.
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Excellence in business depends on "integrity, values and virtues" as much as profits, says philosopher Robert C. Solomon. In A Better Way to Think About Business, Solomon says that business leaders shouldn't be torn between doing what is right and doing what is necessary to make money. "This is not only personally painful, but it is also bad for business. It leads to inefficiency and distrust. It leads to poor morale, bitterness and cynicism. And it results in a diminished reputation, both of one's own business and of business in general." A good corporation fosters an environment that encourages people to develop their skills and their values. A bad corporation, on the other hand, is a "white-collar version of hell" that ultimately pays for its sins through disgruntled employees and unhappy customers, says Solomon, a professor at the University of Texas at Austin. Solomon spends a chapter debunking the Machiavellian myths that now dominate business. He argues in another for integrity in free enterprise. He devotes a third section of the book to describing 45 business virtues, including compassion and trust, and the importance of each. He also provides a historical and philosophical context, citing Aristotle and Adam Smith, among other great thinkers. A Better Way to Think About Business is persuasive reading for employers, employees, and those concerned about corporate behavior. --Dan Ring
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Greed, Inc. is a seething indictment of modern corporations that enjoy the legal status of individuals but are not bound by the same legal and moral responsibilities.Why is it that multinational drug companies hide or falsify unfavorable results? Why do automakers knowingly sell us unsafe cars? Why is big business allowed to poison our environmentâand us? Why is our food so unhealthy, with obesity growing at such an alarming rate? Why are we working such long hours and enjoying life less? This timely and important book places the blame for much of what ails contemporary society squarely on one institution: the modern publicly traded corporation, which enjoys the legal status of an individual but does not seem bound by the same legal and moral responsibilities, or, in fact, by its nature that is brutally and implacably selfish.While recognizing the positive contributions corporations have made over the past two centuries to science, technology, and medicine, Rowland examines the greed at the core of it all and pinpoints what went wrong and how we can free ourselves from the âGreed is goodâ syndrome.
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Rarely do clarion calls sound this loud. Longtime media-industry executive Leo Hindery, who once headed AT&T and several other large companies, now sees plenty of problems in the modern world, in business and out. He uses his new book, It Takes a CEO to issue both his diagnoses of the ills, and proposed cures. With the expansive tone of a politician, Hindery addresses a wide array of issues: inner-city unemployment, lack of health insurance, violence on television, corporate greed, outsourcing, undermotivated young people, and even, in brief stretches, the growing trend towards obesity in Americans. Readers who enjoy reflectiveness and broad perspective in their CEOs will relish Hindery's conversational but unmistakably serious approach. Far from being a conventional memoir of corporate jobs held, boardroom battles won and lost, and shareholder value created, It Takes a CEO clearly focuses on more ambitious goals. Hindery opens his book by declaring his desire to inspire future generations of CEOs, and he returns numerous times to compare his perspectives and experiences as a young businessperson graduating from Stanford's Graduate School of Business to those students coming into the economy today. Hindery strays from the conventional business-book formula; from the very first pages of the book, in other words, Hindery focuses on the dramatic social trends that waste human potential and drain pools of potential consumers and employees. Hindery will raise some readers' eyebrows with his direct, sometimes bracing opinions. In discussing the accounting-manipulation and fraud scandals that rocked corporate America around the turn of the century, he naturally mentions the typical villains, such as leaders at Tyco, Worldcom, Adelphia, and Enron. He also displays his disgust with Wall Street analysts who praised companies publicly while privately disparaging them. Citigroup's Jack Grubman catches a few barbs from Hindery, for example. Interestingly, though, Hindery doesn't stop there. He also castigates Citigroup's current CEO, Sandy Weill, whom many in the business world admire as a consummate dealmaker. Hindery finds Weill's compensation as CEO wildly excessive, and opines that Weill "deserves a lifetime banishment from positions of corporate leadership." Hindery similarly attacks the leadership of well-respected companies such as Cisco and Disney. Perhaps the strongest part of It Takes a CEO, though, is that it doesn't stop merely with entertaining opinions and sharply worded broadsides. Hindery also shares his experience with prospective CEOs by offering solutions. On the topic of executive compensation, for example, Hindery offers several measures that he considers wise: a smaller pay spread between CEOs and rank-and-file employees, expensing of employee stock options in profit-and-loss accounting, and elimination of short-term vesting on options. It's this kind of practical advice, and constructive spirit, that makes Hindery's book a valuable one. --Peter Han
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The minutes and hours following 11th September terror attacks on the World Trade Center posed the greatest challenge to governance in New York City's history. Mayor Rudoph Guiliani had barely escaped with his life in the collapse of the first tower. Fires burned furiously near the site as the other buildings verged on collapse. Air Force fighter jets criss-crossed the sky to ward off other attacks. And yet in those moments after the calamity, and in the following days and months, Mayor Guiliani not only steered the city through the crisis, but did so with an assurance and authority that was hailed around the world as a model of courageous leadership. In this book, Guiliani describes vividly the chaos and horror of the twin-towers catastrophe, and explains how the rules of management he enforced as Mayor enabled him to gain control of the emergency. These are also the rules, Guiliani makes clear, that anyone in a leadership position - from the head of a large corporation to the owner of a corner shop - can use to inspire others and achieve concrete results.
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Adam Smith is the best known among economists for his book, The Wealth of Nations, often viewed as the keystone of modern economic thought. Others, often heterodox economists and social philosophers, on the contrary, focus on Smith's Theory of Moral Sentiments, and explore his moral theory. This work treats these dimensions of Smith's work as elements in a seamless moral philosophical vision, demonstrating the integrated nature of these works and Smith's other writings. Although many practitioners today see the study of Smith as an antiquarian exercise, this book weaves Smith into a constructive critique of modern ecnomic analysis (engaging along the way the work of Nobel Laureates Gary Becker, Amarty Sen, Douglass North, and James Buchanan) and builds bridges between that discourse and the other social sciences.
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