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 - PowerPoint PPT Presentation

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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-rated

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Title: 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


1
  • 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

2
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
3
  • 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

4
(No Transcript)
5
  • 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

6

March 2009
7
  • 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

8
  • 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

9
  • 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

10
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
11
  • 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

12
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.
13
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
14
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
15
  • Part Three
  • Atheistic Challenges to Our Well-Being

16
Americas New Secular, Economic Religion
We will give people a faith--a positive, clear
and consistent system of belief.
17

18
  • 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

19
  • 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

20
  • For her, government was nothing more than
    licensed robbery and altruism just an excuse for
    power-grabbing.
  • The
    Economist

  • October 24, 2009

21
  • I believe in complete, laissez faire, full,
    unregulated capitalism--not mixed economy.
  • Ayn Rand

22
Moses/Jesus
Both Personal Social Responsibility

U.S.
Rand
Marx
Socialism
Capitalism
No Social Responsibility
No Personal Responsibility
23
  • 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



24
  • The search for the third way must begin by
  • rejecting all forms of political
    ideology.
  • Prospect
    Magazine

25
  • 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

26
Source The Economist
27
Household Checking, Savings Treasury Holdings
12 Trillion
Source Forbes, 10/13/08, from Federal Reserve
28
  • 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

29
  • 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

30


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

31
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32
Wall Street Journal, August
7, 2010
33
  • 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

34
  • 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

35
(No Transcript)
36
  • 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

37
(No Transcript)
38
Selfishness is a Virtue
February 7, 2009
39
Early Wall Street
40
Later-day Wall Street
41
  • 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

42
  • 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

43
  • 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

44
  • It is only in emergency situations that one
    should volunteer to help strangers, if its in
    ones power.

  • Ayn Rand

45
  • 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

46
  • 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

47
  • 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

48
Trust In Business
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