Somewhere in the seventies, or the sixties, we started expecting to be happy. I think we have lost the old knowledge that happiness is over-rated

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• Somewhere in the seventies, or the sixties, we
  started expecting to be happy. I think we have
  lost the old knowledge that happiness is
  over-ratedthat in a way life itself is
  overrated. We are the first generations of man
  that actually expected to find happiness here on
  earth, and our search has caused such
  unhappiness. The reason if you do not believe in
  another, higher world, if you believe only in the
  flat material world around you, if you believe
  that this is your only chance at happiness--if
  that is what you believe, then you are more than
  disappointed when the world does not give you a
  good measure of its riches, you are in despair.
• Peggy Noonan
• 
  Life, Liberty and the Pursuit of
  Happiness

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My advice to a school of business management is
to teach the business manager to give unlimited
love and he or she will be more successful."
Sir
John M. Templeton Education which stops with
efficiency may prove the greatest menace to
society. The most dangerous criminal may be the
man gifted with reason, but with no morals.
Martin
Luther King
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• Wall Street says split yourself off from your
  values and invest strictly for profit. We say
  invest with as much integrity as possible. An
  uncomfortable state of dissonance occurs when our
  actions are out of alignment with our hearts. It
  is possible to live with such inconsistencies
  only by putting on blinders--by maintaining that
  an investor has no responsibility for the actions
  of the companies in which his or her money is
  invested. But such conflicts are real, and no
  amount of denial can make them disappear.
• Investing With
  Your Values

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• The investor likes to think of himself as a
  force for honesty and transparency, but he has
  proved in recent years that he prefers a
  lucrative lie to an expensive truth. And hes
  very good at letting corporate management know
  it. Investors, in their shortsightedness,
  encourage companies to neglect their social
  responsibilities.
• 
  Michael Lewis
• 
  The Irresponsible Investor
• 
  New York Times Magazine
• 
  June 6, 2004

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March 2009
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• Those who buy counterfeit designer goods project
  a fashionable image at a fraction of the price of
  the real thing. You might think that would make
  them feel rather smug about themselves. But an
  intriguing piece of research published in
  Psychological Science suggests the opposite
  wearing fake goods makes you feel a fake
  yourself, and causes you to be more dishonest in
  other matters than you would otherwise be.
• The
  Economist
• June 26, 2010

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• Religion is not some kind of psychic exercise
  that occasionally offers a transcendent
  experience. It either shapes ones lifeall of
  ones lifeor it vanishes, leaving behind
  anxious, empty souls that no psychotherapy can
  reach.
• 
  Irving Kristol
• The
  Wall Street Journal

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• It is a curious fact that as we leave the most
  primitive peoples of the world, we find the
  economic insecurity of the individual many times
  multiplied. The solitary Eskimo, Bushman,
  Indonesian, or Nigerian peasant, left to his or
  her own devices, will survive a considerable
  time. Living close to the soil or to his or her
  animal prey, such an individual can sustain his
  own-more rarely, her own- life. But when we turn
  to the New Yorker or the Chicagoan, we are struck
  by exactly the opposite situation, by a
  prevailing ease of material life coupled with an
  extreme dependence on others.
• 
  Robert Heilbroner
• 
  The Making of Economic Society

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Feeling down, anxious? Your problem may be that
fat bank account. New research says the hell-bent
pursuit of money can be hazardous to your mental
health. It debunks the popular belief that having
a goal, any goal, is psychologically beneficial.
People who value extrinsic goals are more prone
to behavioral problems and physical
ailments...The gold diggers interviewed scored
far lower on measures of vitality and self
-actualization...Theres no drawback in having
money. You just need to remember the
things that truly provide
meaning in life.
Forbes
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• The churchs often-dismissive response to the
  laypersons optimistic desire to integrate faith
  and career cannot be justified. In fact, this
  attitude may be the largest act of
  self-marginalization mainstream churches have
  ever engaged in.
• Professor
  Laura Nash
• Harvard University
  

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Sweating The Small Stuff Many people think the
church asks too much of its members. In
reality, it asks too little Frankly, many
churches have dumbed down church until it has
no meaning at all. We are afraid to ask men for
a great commitment, so they think were after
their wallets, not their hearts.
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While many Americans are no doubt overspent,
the possibility of most people drowning in credit
card debt as an explanation for lack of generous
religious and charitable financial giving lacks
empirical supportOne commonly cited statistic in
the media is that the average American owes more
than 8,000 in credit card debt. Numbers like
that are inflated by a relatively small number of
people in huge debt. The median balance was
2,200. That itself represents only three
percent of all debts held by Americans.

Federal
Reserve Boards Survey

of Consumer Finances 2004
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The steady drop in donations, volunteering, and
personal involvement is a direct result of a
spiritual crisis -- a crisis caused in large part
by the clergys failure to address the vital
relationships between faith and money the
solution is not simply to talk more about the
financial needs of the church -- 30 percent said
they would actually give less money if churches
talked more about finances than they do now. The
answer is to talk about the broader relationships
between faith, work, money, giving, the poor, and
economic justice.
Robert Wuthnow The Crisis In The Churches
Spiritual Malaise, Fiscal Woe
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• Part Three
• Atheistic Challenges to Our Well-Being

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Americas New Secular, Economic Religion
We will give people a faith--a positive, clear
and consistent system of belief.
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• Ayn Rand--the heroine of Americas libertarian
  right--described her philosophy as the concept
  of man as a noble being, with his own happiness
  as the moral purpose of his life, with productive
  achievement as his noblest activity, and reason
  as his only absolute. The Reagan presidency
  provided opportunities for a few objectivists to
  try their hand at their most hated institution
  government. The most celebrated Randist even
  survived the passing of the Reagan years. Alan
  Greenspan was an acolyte of Rands in the
  1960s.
• 
  The Economist
• January
  1994

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• Rand was blazing a trail distinct from the
  broader conservative movement, as indicated by
  the title of her second nonfiction book, The
  Virtue of Selfishness. Whereas traditional
  conservatism emphasized duties, responsibilities,
  and social interconnectedness, at the core of the
  right-wing ideology that Rand spearheaded was a
  rejection of moral obligations to others.
• 
  Jennifer Burns, Ph.D.
• Goddess
  of the Market
• Ayn
  Rand and the American Right

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• For her, government was nothing more than
  licensed robbery and altruism just an excuse for
  power-grabbing.
• The
  Economist
• 
  October 24, 2009

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• I believe in complete, laissez faire, full,
  unregulated capitalism--not mixed economy.
  
• Ayn Rand

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Moses/Jesus
Both Personal Social Responsibility

U.S.
Rand
Marx
Socialism
Capitalism
No Social Responsibility
No Personal Responsibility
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• I believe it is simply wrong to maintain that
  God and the Bible favor one modern form of
  economic organization, such as capitalism or
  socialism, over the other. The Bible clearly
  teaches concepts that should move the most
  conservative and liberal readers far beyond their
  comfort zones and far above worldly approaches.
• Gary Moore
  
  
• 
  

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• The search for the third way must begin by
  
• rejecting all forms of political
  ideology.
• Prospect
  Magazine

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• Libertarianism is a philosophy of radically
  limited government. It is attractive to those
  well-off professionals who have nothing in common
  with the religious right but would just like to
  be left alone. The libertarians have also
  replaced the Marxists as the worlds leading
  utopia builders.
• E. J. Dionne

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Source The Economist
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Household Checking, Savings Treasury Holdings
12 Trillion
Source Forbes, 10/13/08, from Federal Reserve
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• Within the rich world, where destitution is
  rare, countries where incomes are more evenly
  distributed have longer-lived citizens and lower
  rates of obesity, delinquency, depression and
  teenage pregnancy than richer countries where
  wealth is more concentrated.
• The Economist
• February
  28, 2009

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• In a sign of increasing inequality in the U.S.,
  the richest 1 of Americans in 2006 garnered the
  highest share of the nations adjusted gross
  income for two decades, and possibly the highest
  since 1929, according to Internal Revenue Service
  dataMeanwhile, the average tax rate of the
  wealthiest 1 fell to its lowest level in at
  least 18 years. The groups share of the tax
  burden has risen, though not as quickly as its
  share of income.
• The
  Wall Street Journal
• 
  July 23, 2008

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• 
  
  Source Private Sector
  Development Blog, 3/10/10

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Wall Street Journal, August
7, 2010
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• The top 5 of Americans by income account for
  37 of all consumer outlays. The bottom 80
  account for 39.5. It is no surprise the rich
  spend so much, since they earn a disproportionate
  share of income. The top 10 of earners captured
  about half of all income as of 2007The data may
  be a further sign that the U.S. is becoming a
  plutonomy--an economy dependent on the spending
  and investing of the wealthy.
• 
  The Wall Street Journal
• 
  August 7, 2010

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• Annual Income People
• Over 15,000 800
  Million
• 1,500 - 15,000 1.5 Billion
• Under 1,500 4 Billion
• Source Capitalism at
  the Crossroads

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• If you had 2,161 in 2000, you belonged to the
  wealthier half of the human race Wealth is
  shared much less equitably than income more than
  half of it is held by just 2 of the worlds
  adults. The distribution is equivalent to a world
  of ten people, in which one had 1,000 and the
  other nine had 1 eachMany people in poor
  countries have next-to-nothing but quite a lot
  of people in rich countries have less than that
  their liabilities exceed their assets. The bottom
  half of Swedes have a collective net worth of
  zero. That said, the Nordic countries seem to
  thrive without much personal wealth.
• 
  The Economist
• 
  December 9, 2006

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Selfishness is a Virtue
February 7, 2009
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Early Wall Street
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Later-day Wall Street
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• My views on charity are very simple. I do not
  consider it a major virtue, and, above all, I do
  not consider it a moral dutyWhat I am fighting
  is the idea that charity is a moral duty and a
  primary virtue.
• Ayn Rand
• Playboy
  Interview

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• How selfish soever man may be supposed, there
  are evidently some principles in his nature,
  which interest him in the fortunes of others, and
  render their happiness necessary to him, though
  he derives nothing from it except the pleasure of
  seeing it.
• 
  Adam Smith
• 
  Opening sentence of
• 
  The Theory of Moral Sentiments

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• Success is nice and Ive had some and enjoyed
  it, but so what? It isnt sufficient reason to
  get up in the morning. Its not good enough to
  live forThis is all an illusion, a lovely tender
  illusion. Were all running around being busy and
  doing important things. But this has nothing to
  do with anything. Up there God and the angels are
  looking down and laughing, and not unkindly. They
  just find us touching and dizzy.
• Peggy
  Noonan

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• It is only in emergency situations that one
  should volunteer to help strangers, if its in
  ones power.
• 
  Ayn Rand

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• Referring to the disastrous advice given by a
  major Wall Street firm who sucked nearly 100
  million in commissions from Orange County,
  Greenspan declared that both brokers and their
  customers should be unburdened by any perceived
  need to take into consideration the interest of
  their counterparties. It sounds dull
  enoughuntil you realize what hes driving at.
  Greenspan expressed that same radical belief more
  clearly during the 1960s in a book of essays
  assembled by his mentor,
• the novelist and free-market zealot,
  Ayn Rand.
• 
  Worth Magazine

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• Michael Milken grew up wanting to be rich, he
  confesses, and by the time he was in his 30s he
  had more money than he could ever hope to spend
  on himself. It was at this point that Milken
  faced a crisis of purpose. Most people derive
  dignity, depth and purpose by prevailing in the
  struggle for existence. What happens when this
  struggle ends? Milken faced a spiritual crisis at
  a young age that many of his newly affluent
  counterparts are encountering today.
• 
  Forbes
• 
  October 11, 1999

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• Ayn Rand filled in the ideas of Aristotle. Its
  a whopping competitive advantage. I personally
  believe objectivism will be the dominant
  philosophy in this country in 25 years.
• 
  John A. Allison IV
• 
  Chairman of BBT
• 
  Sunday Business
• 
  New York Times
• 
  August 2, 2009

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Trust In Business