We had a server outage, and we're rebuilding the site. Most of the site features won't work. Thank you for your patience.
imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
Features
latest news
best of news
syndication
commentary


KILLRADIO

VozMob

ABCF LA

A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List

LAAMN List




IMC Network:

Original Cities

www.indymedia.org africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities

www.indymedia.org africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

"Managers Do Not Only Serve Shareholders"

by Ulrich Thielemann Thursday, May. 19, 2005 at 5:51 AM
mbatko@lycos.com

"It is not legitimate to exploit every conceivable outsourcing chance. It is not legitimate to declare jobs superfluous to realize double-digit profits.. Profit cannot be the only maxim of good entrepreneural conduct.."

“MANAGERS DO NOT ONLY SERVE SHAREHOLDERS”

Interview with Economic Ethicist Ulrich Thielemann

[This interview published in: Nurnberger Zeitung, 3/11/2005 is translated from the German on the World Wide Web, http://www.nz-online.de/artikel.asp?art=313654&kat=4.]

[Banks post record profits and announce layoffs. Heads of health insurances enjoy enormous salaries despite savings pressures. What is going wrong? Nurnberger Zeitung spoke with the economist Ulrich Thielemann. He is co-director of the institute for Economic Ethics at the University of St. Gallen and has published studies on “Ethics and Success” and “The Market as a Principle.”]


NZ: Shouldn’t an economic ethicist despair in view of the latest manager scandal?

Thielemann: No. These blatant cases of misguided management offer abundant illustrative material for enlightenment in economic ethics. The economic ethicist thinks in right and wrong, not in good and evil.

NZ: What is right and what is wrong?

Thielemann: Josef Ackermann said: “Germany is the only country where those who create profits are taken to court although they should be praised.” A peculiar public interest fiction underlies this remark: Whoever is successful read from the balance statement of the firm or individual promotes the well being of everyone. Therefore Ackermann has a completely clear conscience (Ackermann is chairperson of Deutsche Bank that posted record profits and simultaneously laid off thousands of employees). He has a harmonious theory about how the market functions. Economic ethics starts here by showing the shortcomings of this theory.

NZ: How does a good manager act?

Thielemann: A good manager knows that economics is full of conflicts and that there are a whole series of claims giving rise to serious conflicts, above all between capital and labor. An integrated manager knows about these conflicts and does not simply iron them out with a harmonious market theory according to the motto: Everything that brings success is ethically all right.

NZ: How do you counter that?

Thielemann: Managers who practice integrated economics do not only serve one claimant group like the shareholders. Concerning the urgent current problem of shifting jobs to low-wage countries, it is not legitimate to exploit every conceivable outsourcing chance. It is not legitimate to declare jobs superfluous with the sharpest possible pencil to realize double-digit profits. One can be economically successful below the threshold of 25-percent capital profitability set by Ackermann.

NZ: Many firms justify layoffs as practical economic necessities. How can ethics and success be reconciled in such a conflict?

Thielemann: High profits show that practical necessities can never make doing what is ethically right impossible. However it could be unreasonable not to order layoffs – under existing conditions that can be changed.

NZ: Can an ethical boundary line be drawn between the pursuit of profit necessary for survival and reprehensible profit maximization?

Thielemann: Yes. Profit maximization is not justified a priori. Profit maximization means considering all claims only when this pays. Profit cannot be the only maxim of good entrepreneurial conduct. It is one important aspect alongside others. Whoever understands this as a manager practices a different economics.

NZ: In a report of the German ministry for families, children were recently described as growth factors. Does this reflect the spirit of the times?

Thielemann: We live in an age of the economizing of living conditions. In my opinion, German social democracy acts in a neoliberal way. By neoliberal, I understand that the state defines itself as a business whose only goal is to make society fit for the world market. All policy including family policy stands under the directing of increasing the competitiveness of Germany as a corporation. These are dramatic changes in attitudes.

NZ: How will our economic system appear in 20 years?

Thielemann: The future is hard to predict. We are actually at a turning point. The question is whether the global world market will be useful to society or whether we let things take their course. If we let things run their course, large parts of the formerly rich North and West will become impoverished because they cannot hold their ground to the competitiveness of the Far East. We will not only have to work longer. Self-assertion on the world market will dominate our life almost completely. This will be a genuine valley of tears.
Report this post as:
Share on: Twitter, Facebook, Google+

add your comments


Local News

Change Links September 2018 posted S02 10:22PM

More Scandals Rock Southern California Nuke Plant San Onofre A30 11:09PM

Site Outage Friday A30 3:49PM

Change Links August 2018 A14 1:56AM

Setback for Developer of SC Farm Land A12 11:09PM

More problems at Shutdown San Onofre Nuke J29 10:40PM

Change Links 2018 July posted J09 8:27PM

More Pix: "Families Belong Together," Pasadena J02 7:16PM

"Families Belong Together" March, Pasadena J02 7:08PM

Short Report on the Families Belong Together Protest in Los Angeles J30 11:26PM

Summer 2018 National Immigrant Solidarity Network News Alert! J11 6:58AM

Watch the Debate: Excluded Candidates for Governor of California M31 5:20AM

Change Links June 2018 posted M28 7:41AM

The Montrose Peace Vigil at 12 Years M22 8:01PM

Unity Archive Project M21 9:42AM

Dianne Feinstein's Promotion of War, Secret Animal Abuse, Military Profiteering, Censorshi M17 10:22PM

CA Senate Bill 1303 would require an independent coroner rather than being part of police M10 9:08PM

Three years after OC snitch scandal, no charges filed against sheriffs deputies M10 8:57PM

California police agencies violate Brown Act (open meetings) M02 8:31PM

Insane Company Wants To Send Nuke Plant Waste To New Mexico A29 11:47PM

Change Links May 2018 A27 8:40AM

Worker-Owned Car Wash on Vermont Closed A27 5:37AM

GUIDE TO REBEL CITY LOS ANGELES AVAILABLE A13 12:39AM

lausd whistle blower A11 6:58AM

More Local News...

Other/Breaking News

test O06 10:01AM

test O06 9:59AM

test O06 9:59AM

100 Ways GOP Have Stolen Elections Since 1876 O06 12:03AM

Proximospective de l'univocité réifiée O05 6:27AM

“Kava-no!!!” O04 6:42PM

Trump & Palestine vs. Genesis, Rashi & The Land of Israel O03 6:29PM

The Criminality of the Elites O03 11:35AM

Business de l'inhumanitaire O03 7:51AM

Marriage Rape/Date Rape Highest Rapes O02 2:59PM

Women I Know Get Raped - Too Many Times To Count! O02 2:55PM

Women In USA Have Stockholm Syndrom O02 2:50PM

Shooting Drill's Are Political Actual Shootings O02 2:47PM

Dr. Ford's Father Works With CIA O02 2:44PM

Weaponizing Frequencies O02 2:41PM

Google Abuses: Worldwide Spying, Censorship, War Promotion, Spying On Children, Etc O02 11:08AM

Paraphysique de l'administration O02 8:34AM

Paraphysique O02 8:31AM

Affordable Rents? A State of Emergency Intensifies O01 11:36AM

A Few Of Many Impeachable Acts by Trump Sessions And Others O01 4:41AM

Désengrammation, l'éloge de la suite S30 7:01AM

someone Should Work In Hollywood - Good Acting! S28 2:55PM

Ford Gives Psych Drugs To Lower Class To Shut Them Up? S28 2:51PM

Hilllary Calls Ford Trailer Trash? S28 2:47PM

Most Rapes Are In Marriages S28 2:43PM

Nice Boys Dirty Deeds S28 2:41PM

Minnesota 2nd Largest Rape State S28 2:39PM

Paraphysique de la plus-value S28 7:18AM

More Breaking News...
© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy