Naked Greed Destroys Brand Value

“The obsession with shareholder value has perhaps created autistic businesses — of a kind that nobody much wants to work for or buy from. By nakedly pursuing a narrow obsession with profit, companies are damaging brand value — and ultimately shareholder value. Or, to put it another way, the problem with all this naked greed isn’t the greed, it’s the nakedness. At a societal level, it means the benefits of competitive free market economics (choice, low prices, innovation) don’t really translate into happiness, gratitude or affection — as they are tainted by the self-interest with which they have been obtained.”

“Adam Smith’s: “It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest.” We should add: “But don’t expect anyone to like the butcher very much.””