07/07/2005 1:56:16 pm
Self-Interest Promotes the General Interest. Yesterday afternoon, I participated in a debate about Corporate Social Responsibility, hosted by H&M and Chiquita. In the tough competition in Visby, it is an indication of the interest in this topic that over 50 people came.

We were five in the debate panel, four were pro-CSR whereas I was not. The representatives of H&M and Chiquita told us about what social projects their companies are involved in. The trade union representative said they should do more. And an author of a book for social public procurement basically agreed.

My point, with the help of both Adam Smith and Karl Marx, was to show that pursuing the self-interest as a company is the best thing they can do for the general interest. They should do whatever the owners want. And the best thing is to seek profit by producing the best goods or services they can, in free competition, to satisfy the consumers. And this, in turn, brings wealth, better living standards and better social conditions. The Swedish history tells us that as much as the current development in China and India.

The question whether others - such as the government, NGO:s, trade unions, etc - should force companies to do other things is one of the most important economic issues in the debate today. And there should be more voices defending private property, free enterperise and profit.

Read my introduction here - >