What is Good Business?

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Complete Video Transcript

0:01business has rarely been so unpopular
0:04capitalism is in serious disrepute a lot of people are convinced the businesses
0:09as their structure today
0:10simply don’t properly so thought best collective interests
0:14yet a world without business scarcely seems realistic
0:18the challenges in to do away with business its to feel way
0:21to water better version here are five things we think unnecessary
0:25decent humane and profitable business culture
0:28dar
0:33as human beings there are things we need and a genuinely good important for a
0:37flourishing
0:38and then there are things be merely desire that appeal to our appetites
0:42but aren’t connected up with anything sincere all worthwhile
0:45the problem is we all good at identifying and holding onto the
0:48distinction
0:49would not very good at knowing what’s really good for us this is created a
0:53great temptation for capitalism
0:55for the static capitalist it doesn’t matter much book to make money from
0:59it could be needs and desires you could be selling shoelaces crude oil man no
1:03technology handguns the cuts works at all story
1:06this is the classic defense for selling bullshit
1:10capitalism is not traditionally been interested in source if its profits
1:14the idea is to make money from supplying whatever people happen to be willing to
1:18pay for
1:18capitalism becomes evil when it explodes our inability
1:22to distinguish on needs from our designs when large numbers of businesses
1:26so people stuff that they desire which in all honesty
1:30they don’t need do so as a first basic point
1:33good businesses should be defined not simply by whether they’re profitable not
1:37the what’s they make their profit from only businesses that satisfy all true
1:42needs
1:42amoral do
1:45do it’s hard to make any business world
1:50it’s doubly hard to make it work when you try not only to make money
1:53but also to make it from me trough and designs
1:57deka fortunes could be made foster selling french fries Instagram bread
2:01all running gossipy sensationalizing newspapers in serious broadsheets
2:05strip clubs make more money than bookshops status driven luxury brands
2:10a more successful than fair trade cooperatives %uh it’s harder to make
2:13things
2:14which both appealing and good because the enterprise need to solve
2:18two big problems rather than just one the real producer
2:21has to master both seduction and goodness
2:24I’ll lots of people have mastered seduction think I’ve had good as ice
2:28cream and do not manufacture saw
2:30the rating of willpower and better natures defend number of people
2:34have massive goodness think it is worth the will steer people
2:37who work in ecological services will run web sites been used for calling misdeeds
2:42in the factories in the developing world
2:44very few have mastered both arts seduction
2:47and goodness it’s not impossible it’s not the goodness makes adoption
2:52impossible
2:52will the seduction pulls out goodness I it’s just the target is smaller
2:56and far far harder to be that’s what we need to bring home
3:00the great challenge of our age is to make goodness not just its own reward
3:04also deeply appealing to many to fuse goodness
3:07and seduction in the Utopia relationship therapy
3:11would therefore end up having some %uh the charm would you like to read dar
3:18what we want to buy whole from our world money aside is that it be
3:21meaningful what is meaningful work
3:24meaningful job is any occupation which gives you a feeling that you are in some
3:28way through your labor
3:30either reducing suffering or increasing the level of fulfillment of others
3:34that leaving the world a slightly better place than you found it
3:37the more meaningful job the less money matters
3:40people will be ready to enlist in the army and died for the defense in the
3:43nation
3:44for a very low salary will think the sacrifices made by
3:47explorers environmentalists nurses or people at the tree and a publishing
3:52motivation comes from something a noble cause good businesses
3:56with those who want their employees not just with cash but also with that
4:00equally valuable currency
4:02meaning
4:07many people at the top of capitalism already have enough money to feed twelve
4:10generations
4:11and yet still push for higher returns 30 per cent per annum rather than three
4:16which would be enough to keep ahead of inflation %uh important thing to grasp
4:20is that these captains a business want to make money deep down if they
4:23understood themselves better
4:24make realize that my aunt in it for the sake of the money with the
4:28really want to suspect on up love that comes in our society
4:32for having been known to have made lots of mine this holds out an important clue
4:37how we should reform society by making owner in respect
4:40more reliably than double to those capitalists who choose to run their
4:44businesses in noble ways
4:45satisfy needs not desires giving meaning to their workforces
4:49I’ll the way status is currently distributed tourette rewards the worst
4:53kind to capitalism
4:54it directs bono to wealth without asking skeptically enough
4:58how the wealth was accumulated that’s something we’re all responsible for
5:02we pay undue tension to the goats in the party’s how impressed we are by money
5:06is part of what keeps businesspeople which generally not assisted ego-driven
5:10personalities
5:11to me people become moral capital is to make an exception lower return on
5:15capital
5:16in the name of producing me kindness and goodness and be become a moral society
5:20when the gift on respect not just for those who’ve made a lot of cash
5:24any old those who made a bit of cash doing
5:27good things
5:29are typically the price of a product or service
5:34doesn’t actually take into account the full cost of producing it
5:38because some resources have inadvertently been given
5:41free to produce its double and has been polluted in the workers health destroyed
5:45but the consumer is in pain we talk a lot about low prices
5:49don’t talk enough about just prices %uh
5:52adjust price is the price is correct he factored in
5:55the true cost of production in a good society to just promise
5:59would be the normal price whenever a supplier provide something below the
6:04trust price
6:04whenever there is has been wrongly call it a bargain shortcut is being taken
6:09some I’ll
6:10the company has to be offloading some of the cost they must be treated
6:13someone possibly they must be skimping on quality without admitting it
6:17a society gets collectively more moral we should take immense care about the
6:21party any product took
6:23on its way to our lives in a good business the price of the product should
6:26reflect the cost
6:28supplying a thing treating everyone and everything
6:31given the trees in the rivers kindly along the way do
6:36duh eighty percent of business should in a perfect world
6:40come from the top twenty percent of our needs present the overwhelming share of
6:44business activity
6:45is directed at meeting the lower basic needs moving about
6:49energy food shelter present capitalism is mainly directed
6:53the bottom has a Abraham Maslow’s famous your immediate needs
6:57%uh we understand we have high needs love self-esteem creativity and so on
7:02we don’t usually imagine commerce can help us we could prejudice the pain for
7:07something
7:07copy connected to goodness but it could be the fact is commerce’s
7:11only barely scratch the list are true needs we need to live in beautiful
7:15cities need to have good advice and psychological support me to manage your
7:19emotions we need to sustain strong families across generations
7:22we need to cultivate our minds me to live in societies
7:25in which it’s normal to be wines kind and self-possessed
7:29he’s a fast immense undertakings and we have collectively a huge way to go
7:34the fact that these ambitions don’t look the same as constructing highway so
7:37building pipelines doesn’t have to mean that the divorce from work
7:41business 0 comments goods and services which have to be created
7:45by ingenuity organization effort short I work
7:49do
7:50often worrying about what we might do when there is no more world
7:53we should be preparing ourselves for almost endless labor to reach the true
7:57called
7:58widespread fulfillment it’s entirely understandable that many people are
8:02disillusioned with capitalism
8:04because businesses we currently know it is not as good as it should be
8:07our objection is not in fact to business such
8:10the two business the response is not therefore
8:14to which the business would go away but to work to improve it
8:17so that one day it comes to properly satisfies as consumers
8:21and s produces do
8:25are I’ll