MORALITY AND THE MARKET

Capitalism is the social, political, and economic system that lets rights to
property be transferred by market transactions among private individuals,
alone or in groups. Systems of thought that oppose capitalism oppose this
way of fixing legitimate property claims and substitute other criteria for the
legitimacy of property transfers, or prohibits such transfers altogether.

In either allowing or disallowing market transactions, capitalist and
non-capitalist systems either allow or disallow business. Business is a set of
organized human activities which take place in markets. So it is appropriate
to engage in a general consideration of the morality or immorality of
markets and of market institutions, in a business ethics text. Much of what
makes for good business or bad business is the suitability of business
practices to engage in market activity. But if market activities were
essentially bad, that badness would transfer back to the business activities.
On the other hand, if it is a good thing for humans to participate in
markets, then good business can be good human activity.

In any event, this chapter is a discussion of the morality of markets and
of market institutions. Since this is an introductory essay, I shall explain
everything that is taken up in the essay. So I start by explaining what
markets are and what morality is.

What is morality? The study of morality is an attempt to formulate
rational standards that can be used to distinguish between right and wrong
action and also between good and bad things. For example, most people
think that peace and prosperity are good things and should be pursued.

to be continued….

LOVING YOUR EMPLOYEES

By Melvin Polatnick

Owning a twelve room house is very expensive, my cleaning lady and her sister who is my cook cost me fifteen hundred dollars a week for six days work. Health insurance is provided by me. Both are is well worth what I pay them. I like my clothes and linens washed daily by hand and my two cars washed and waxed. The washing machines destroy the quality of material so they are not used except by them. Both have been with me for over five years. we are all lovers but never on working hours.

My cook is three years younger than her sister, she is forty three years old. She once worked as a stripper but gave it up to work for me. The food shopping and kitchen cleanup is done by her. Breakfast is served at eight but lunch and dinner can be served at any time. I always like a late night snack and a dry martini. The sisters live with me and have their own rooms. I cannot sleep well with any one in my bed. When we make love it is in the large bedroom that my deceased parents used to share.

Sunday is my employees day off so we all go mall shopping followed by dinner and dancing. We never return home until the wee hours of the morning. Both sisters are usually dead drunk. I am the driver so I keep my self down to a martini or two. We are all up at eight A.M. to start the working day of with a hot breakfast. Life is good to us all and we are one happy bunch.

On a Sunday night when we were dinning and dancing I asked the sisters if they would like to retire and live with me in a residential hotel. The staff of the hotel would provide all the services needed including cooking and cleaning. They were delighted to hear such a kind offer but were frightened at the thought of losing their salaries. I explained that the salaries would continue and so would our relationship as friends and lovers. They agreed and I sold my house. We then all moved into a luxurious three bedroom suite.

My parents were business people and employed over one hundred workers. Before they died in an automobile accident they explained to me the importance of being fair to your employees. I never forgot their teachings. The sisters that live with me were my employees and if my parents were alive they would be proud of me.