Business Ethics: Who Are The Good Guys?

Abstract

The media often includes much concern about “profits” in business. The term is misunderstood by many lay people and some business people. When the real meaning of the word, and its place in business and society are understood, the question is not whether profits are too high. The question is whether they are high enough, or even exist. Evidence and examples taken from selected common shares show that profit is often too low. In 1980 there was much ado about high corporate profits; especially in the oil business, which was the current scapegoat of the media. A monograph was written that examined corporate profits over a ten year period. The new scapegoats of the late 1980’s are corporate raiders. It seems worthwhile to update the 1980 work and look at corporate profits from the popular “ethics” point of view.