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2021 | OriginalPaper | Buchkapitel

4. The Ethics of Profit

verfasst von: Hermann Simon

Erschienen in: True Profit!

Verlag: Springer International Publishing

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Abstract

One could also title this chapter “Profit and the Market Economy.” I will get less into general questions of ethics, morals, or philosophy, and concentrate instead on economic aspects related to profit.
Fußnoten
1
Zitelmann [1].
 
2
Plumpe [2].
 
3
The Gini Coefficient is a way to measure inequality. It ranges from 0 (=no inequality in income distribution) to 1 (=maximum inequality in the distribution of incomes).
 
4
Niehues [3].
 
5
Müller-Armack [4].
 
6
“Peugeot verspricht Opel Hilfe zur Selbsthilfe,” Frankfurter Allgemeine Zeitung, March 8, 2017, p. 19.
 
7
Friedman [5].
 
8
Personal conversation, Boston, April 3, 2019.
 
9
Drucker [6].
 
10
See Emunds and Hockerts [7].
 
11
Personal mail from Prof. Pil Hwa Yoo on May 9, 2019.
 
12
Heinz Dürr, speech held at the USW, October 6, 1986.
 
13
Speech on the 25th anniversary of Simon-Kucher & Partners, Frankfurt/Main, September 7, 2010.
 
14
IKEA-Homepage: “Ingka Holding B.V. and its controlled entities has an ownership structure that ensures independence and a long-term approach. Stichting Ingka Foundation in the Netherlands is our owner, and its funds can be used in only two ways: it can be reinvested in the Ingka Group or donated for charitable purposes through the Stichting IKEA Foundation.”
 
15
Bosch is the world’s largest automotive supplier, with revenue of 78 billion euros and 402,000 employees.
 
16
Interview with Christof Bosch, Frankfurter Allgemeine Zeitung, May 6, 2019, p. 22.
 
17
“Bosch prescht beim Klima vor,” Handelsblatt, May 10, 2019, p. 18.
 
18
“Der exzentrische Vermiete,r” Frankfurter Allgemeine Zeitung, May 8, 2019, p. 20.
 
19
Ibid.
 
20
See Kotler [8].
 
21
Cowen [9].
 
22
Ibid., p. 39.
 
23
See Simon-Kucher Trend Radar—The Rating Economy, Bonn 2019.
 
24
Zitelmann [1].
 
25
“We want to educate leaders who make a decent profit decently.” Speech by Nitin Nohria on June 27, 2016 at the Harvard Research Symposium in Munich. Harvard Business School (HBS) was founded in 1908. Wallace Brett Donham was the second dean of HBS.
 
26
From Robert Bosch, “Lebenserinnerungen”, excerpted in Bosch-Zünder, 9/1921, pp. 230–232 and 9/1931, pp. 194–198 as well as in 50 Jahre Bosch18861936, Stuttgart: Bosch Eigenverlag 1936.
 
27
Paland [10].
 
28
Simon [11].
 
30
Frankfurter Allgemeine Zeitung, October 17, 2018, p. 22.
 
31
“Was darf Leben kosten?” Handelsblatt, December 19, 2018, p. 1.
 
32
“Roche Nears Deal to Buy Spark Therapeutics for Close to $5 Billion,” The Wall Street Journal online, February 24, 2019.
 
33
Höffe [12].
 
34
Manfred Hoefle, “Wie Abschöpfung Unternehmen und Gesellschaft ruiniert,” Denkschrift Nr. 11, Managerismus, see also Hoefle [13].
 
36
Zitelmann [1].
 
37
See Kahan [14].
 
38
Zitelmann [15].
 
39
Mazzucato [16].
 
40
See Stiglitz [17].
 
41
Krones went public in 1984. At that time, there was no profit-reporting requirement in Germany.
 
42
Zitelmann [18].
 
43
Karl-Heinz Johnen, Handelsblatt, October 7, 2013.
 
44
See Financial Times, March 12, 2009, see also Business Week, March 16, 2009, where Jack Welch qualified his statements in the Financial Times.
 
45
Blog.malik-management.com, August 7, 2011.
 
47
For a more detailed treatment, see Blanpain et al. [19].
 
48
Wall Street Journal Europe, July 28, 2015, p. 1.
 
50
See “Move Over, Shareholders: Top CEOs Say Companies Have Obligations to Society,” The Wall Street Journal, August 19, 2019.
 
52
Frankfurter Allgemeine Zeitung, August 21, 2019, p. 15 and Hans-Jürgen Jakobs, “Morning Briefing,” Handelsblatt, August 20, 2019.
 
54
Drucker.institute, E-Mail, August 20, 2019.
 
57
Büttner [20].
 
58
Drucker [21].
 
59
Derousseau [22].
 
60
Cited according to Fox and Lorsch [23].
 
61
“Move Over, Shareholders: Top CEOs Say Companies Have Obligations to Society,” The Wall Street Journal, August 19, 2019, p. 16.
 
Literatur
1.
Zurück zum Zitat Zitelmann, R. (2019). The Power of Capitalism, London: LID Publishing. Zitelmann, R. (2019). The Power of Capitalism, London: LID Publishing.
2.
Zurück zum Zitat Plumpe, W. (2019). Das kalte Herz. Kapitalismus: Die Geschichte einer andauernden Revolution, Berlin: Rowohlt, 640. Plumpe, W. (2019). Das kalte Herz. Kapitalismus: Die Geschichte einer andauernden Revolution, Berlin: Rowohlt, 640.
3.
Zurück zum Zitat Niehues, J. (2019). Ungleichheit zwischen Wunsch, Wahrnehmung und Wirklichkeit, Frankfurter Allgemeine Zeitung, 18. Niehues, J. (2019). Ungleichheit zwischen Wunsch, Wahrnehmung und Wirklichkeit, Frankfurter Allgemeine Zeitung, 18.
4.
Zurück zum Zitat Müller-Armack, A. (1947). Wirtschaftslenkung und Marktwirtschaft, Hamburg: Verlag für Wirtschaft und Sozialpolitik, 65. Müller-Armack, A. (1947). Wirtschaftslenkung und Marktwirtschaft, Hamburg: Verlag für Wirtschaft und Sozialpolitik, 65.
5.
Zurück zum Zitat Friedman, M. (1970). A Friedman Doctrine—The Social Responsibility Of Business Is to Increase Its Profits, The New York Times Magazine, 17. Friedman, M. (1970). A Friedman Doctrine—The Social Responsibility Of Business Is to Increase Its Profits, The New York Times Magazine, 17.
6.
Zurück zum Zitat Drucker, P. (1975). The Delusion of ‘Profits’, The Wall Street Journal, 10. Drucker, P. (1975). The Delusion of ‘Profits’, The Wall Street Journal, 10.
7.
Zurück zum Zitat Emunds, B., & Hockerts, H. G. (eds.) (2015). Den Kapitalismus bändigen. Oswald von Nell-Breunings Impulse für die Sozialpolitik, Paderborn: Ferdinand Schöning. Emunds, B., & Hockerts, H. G. (eds.) (2015). Den Kapitalismus bändigen. Oswald von Nell-Breunings Impulse für die Sozialpolitik, Paderborn: Ferdinand Schöning.
8.
Zurück zum Zitat Kotler, P. (2019). Advancing the Common Good: Strategies for Businesses, Governments, and Nonprofits, New York: Praeger ABC-CLIO. Kotler, P. (2019). Advancing the Common Good: Strategies for Businesses, Governments, and Nonprofits, New York: Praeger ABC-CLIO.
9.
Zurück zum Zitat Cowen.T. (2019). Big Business: A Love Letter to an American Anti-Hero, New York: St. Martin’s Press, p. 6. Cowen.T. (2019). Big Business: A Love Letter to an American Anti-Hero, New York: St. Martin’s Press, p. 6.
10.
Zurück zum Zitat Paland, D. (2019). Der Goldjunge von Novartis, Manager Magazin, June, 42 Paland, D. (2019). Der Goldjunge von Novartis, Manager Magazin, June, 42
11.
Zurück zum Zitat Simon, H. (2019). Philosophie des Preises, Marketing Review St. Gallen, 5, pp. 12–21. Simon, H. (2019). Philosophie des Preises, Marketing Review St. Gallen, 5, pp. 12–21.
12.
Zurück zum Zitat Höffe, O. (2016). Dürfen Unternehmer Gewinne machen? Frankfurter Allgemeine Zeitung, 20. Höffe, O. (2016). Dürfen Unternehmer Gewinne machen? Frankfurter Allgemeine Zeitung, 20.
13.
Zurück zum Zitat Hoefle, M. (2010). Managerismus. Unternehmensführung in Not, Weinheim: Wiley. Hoefle, M. (2010). Managerismus. Unternehmensführung in Not, Weinheim: Wiley.
14.
Zurück zum Zitat Kahan, A. S. (2010). Mind vs. Money–The War between Intellectuals and Capitalism, New York: Routledge. Kahan, A. S. (2010). Mind vs. Money–The War between Intellectuals and Capitalism, New York: Routledge.
15.
Zurück zum Zitat Zitelmann, R. (2020). The Rich in Public Opinion, Washington: Cato-Institute, 273. Zitelmann, R. (2020). The Rich in Public Opinion, Washington: Cato-Institute, 273.
16.
Zurück zum Zitat Mazzucato, M. (2018). The Value of Everything: Making and Taking in the Global Economy, London: Penguin Random House, 4. Mazzucato, M. (2018). The Value of Everything: Making and Taking in the Global Economy, London: Penguin Random House, 4.
17.
Zurück zum Zitat Stiglitz, J. (2012). The Price of Inequality: How Today’s Divided Society Endangers our Future, London: Allen Lane. Stiglitz, J. (2012). The Price of Inequality: How Today’s Divided Society Endangers our Future, London: Allen Lane.
18.
Zurück zum Zitat Zitelmann, R. (2018). The Wealth Elite: A Groundbreaking Study of the Psychology of the Super Rich, London: LID Publishing. Zitelmann, R. (2018). The Wealth Elite: A Groundbreaking Study of the Psychology of the Super Rich, London: LID Publishing.
19.
Zurück zum Zitat Blanpain, R., & Bromwich, W. (2011). Olga Rymkevich, and Iacopo Senatori (ed.), Rethinking Corporate Governance: From Shareholder Value to Stakeholder Value, New York: Wolters Kluwer. Blanpain, R., & Bromwich, W. (2011). Olga Rymkevich, and Iacopo Senatori (ed.), Rethinking Corporate Governance: From Shareholder Value to Stakeholder Value, New York: Wolters Kluwer.
20.
Zurück zum Zitat Büttner, I. (2016). Reich, weil er gute Löhne zahlte, Chrismon, 3, 49. Büttner, I. (2016). Reich, weil er gute Löhne zahlte, Chrismon, 3, 49.
21.
Zurück zum Zitat Drucker, P. (2001). The Essential Drucker, New York: Harper-Business, 58. Drucker, P. (2001). The Essential Drucker, New York: Harper-Business, 58.
22.
Zurück zum Zitat Derousseau, R. When Workers and Investors Share the Wealth, Fortune pp. 22–23. Derousseau, R. When Workers and Investors Share the Wealth, Fortune pp. 22–23.
23.
Zurück zum Zitat Fox, J. & Lorsch, J. W. (2012). What Good are Shareholders? Harvard Business Review pp. 48–57 Fox, J. & Lorsch, J. W. (2012). What Good are Shareholders? Harvard Business Review pp. 48–57
Metadaten
Titel
The Ethics of Profit
verfasst von
Hermann Simon
Copyright-Jahr
2021
DOI
https://doi.org/10.1007/978-3-030-76702-0_4

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