Dogma of Profit Maximization: A Sight to Open Secrets
Journal Title: SEISENSE Journal of Management - Year 2018, Vol 1, Issue 2
Abstract
This essay is a philosophical enquiry into the dogma of profit maximization as one of the dogma premises of capitalism. Being attracted by the cyclical nature of financial crises as an existential challenge the case is argued to be biased and undemocratic in presence of profit maximization as a guiding principle. Philosophy as un-dogmatic procedure seems suitably sustained to keep the notion of maximization alive and leaves ground to draw valid arguments considering theory of greater good and justice. The epistemological approach to understand the efficiency argument as defended seems vague to establish justice, stability and economic democracies. Bottom up approach may resolve the issue using evident and biased ruling of interest tax deductibility under maximization approach and gain greater good and justice at all levels. According to reasonable judgment of consequences “equitable and sustainable wealth creation” tends to be more valid corporate guiding principle negating “maximization of profit”.
Authors and Affiliations
Qamar uz Zaman Malik
Keywords
Related Articles
- EP ID EP392207
- DOI 10.5281/zenodo.1228047
- Views 55
- Downloads 0
Relationship between HR Practices & Employee Turnover Intentions by Taking Moderating Effect of Neuroticism and Extroversion.: Empirical Analysis of Selected Banks from Pakistan
The study is an association study because the relationship between employee turnover intentions and HR practices is studied by taking moderation effect of neuroticism and extroversion. The hypotheses are tested by taking...
Total Quality Management Practices and Supply Chain Management: Understanding Linkages from the Logistics Sector of Pakistan
The study is an outcome of a conceptual framework that establishes the relationship between the total quality management (TQM) practices and supply chain management (SCM) practices. The six TQM practices have taken from...
Industry-Level Disparities in Antitrust Enforcement
Purpose- The purpose of this study is to analyze whether an increase in the concentration of industry causes an increase in the level of the Department of Justice Antitrust Division (DoJ)’s antitrust enforcement within t...
Transformational Leadership and Organizational Performance: The Mediating Role of Organizational Innovation
The study is an investigation of transformational leadership impact on organizational performance; the mediating role of organizational innovation. The study revealed that organizational innovation has mediated significa...
Ransomware Attack on Medstar: Ethical Position statement
Medstar Health was the target of ransomware attack in 2016. The attack impacted the provision of healthcare services to the patient. Medstar opted not to pay the ransom and, instead, responded by shutting down its electr...