I think this is the most coherent, pragmatic argument I’ve heard for “why be moral in business?” (Podcast clips in 3 parts):
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Second part, on how old hands in business recognise this aspect of ‘be a good person, so that you can be lucky’:
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Final part, linking this to old religious wisdom:
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To be clear, there are many arguments for acting morally and doing the right thing, but this is one that doesn’t seem to get much play.
(Nerds of a particular flavour might also point out: “hey, this describes the dynamics of an iterated game!”)
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(Whereas my parents would say: "of course you should act morally and do the right thing, we taught you better!")
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High Social trust = Low Transaction Costs => Greater Prosperity
econlib.org/library/Column.
jstor.org/stable/4163885
medium.com/@zachullman/tr
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