By Bolton Charles Knowles 1867-1950
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7 The United States’ cultural revolution, initiated in the s and s, made our society more tolerant, more pluralistic, and freer. But these positive developments have had unintended consequences. They have led to a disorienting moral relativism and difficulty in distinguishing between right and wrong. On the political front, conservatives, liberals, and moderates all worry about the loss of moral rectitude in our society. Conservatives focus on family-linked issues like abortion, gay How to Proﬁt from the Scandals 17 marriage, and a morally toxic environment in which to bring up children.
For this and other reasons, the domestic labor market is weak and likely to remain so. The unions have lost much of their clout, and with the downsizing of middle management, there are plenty of good people available on a part-time or freelance basis to whom we don’t need to give beneﬁts or raises. • We can reduce our labor costs to a minimum, with wondrous impact on our proﬁt margins, share prices, and stock options. ” Screwed Again 43 Companies that follow this logic do not typically adopt a hostile or adversarial stance toward their employees.
This cross-section of a single day’s news coverage depicts the sorry state of the nation’s ethical norms as seen through the lens of journalism. When we turn to the nation’s response, we see lots of action. Reliance on Legalism The main effort to stop the ethical deterioration is taking place in the legal/regulatory domain. Legal authorities have levied huge ﬁnes. Well-heeled corporate executives have been forced to resign or to pay some of the ﬁnes out of their own pockets. ” To produce better ﬁnancial reporting, Congress has passed stringent new regulations (like the Sarbanes-Oxley Act) that impose a huge accounting burden on business.