While businesses are increasingly embracing the idea of "moral capitalism" and incorporating sustainability and social development within their operations, governments and policymakers remain far behind, a development seminar was told on Thursday.
Michael Sandel, a political philosopher at Harvard University, said the role of markets is still loosely defined even after economic crises, and that politicians are partly to blame for hesitating to bring moral and spiritual questions into public discussion due to a fear of disagreements in public. He was speaking at a development seminar yesterday. SOMCHAI POOMLARD
The idea that capitalism must incorporate ethics and morals is one that has gained ground in recent years, particularly as citizens rebel against the losses incurred from the 2008 global financial crisis.
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