The Value of Business Ethics Outside of Business

WINSTON-SALEM, N.C. – At a time when many encourage and even demand “social responsibility” and altruism from business, nationally-recognized columnist and executive director of the Ayn Rand Institute, Dr. Yaron Brook, will explain why he believes businesses are ethical to the extent that they act in their own self-interest, and how productivity and profit are virtues.

“Companies have a responsibility to their owners, i.e., their shareholders, to maximize long-term wealth. This entails creating great products, offering them at great prices for consumers, and providing great service. It is what has made American industry great. To the extent that companies do not work to maximize shareholder wealth, we all suffer,” says Dr. Brook.

Dr. Brook will present “The Value of Business Ethics Outside of Business” on Tuesday, March 22 at 4:00p.m. at the Worrell Professional Center Auditorium, room 1312 on the Wake Forest University campus. The event, which is free and open to the public, is presented by the Wake Forest Schools of Business and the BB&T Center for the Study of Capitalism.

In his talk, Dr. Brook will address ethical issues surrounding current events like:

· What should businesses be doing for countries that need disaster relief?
· Is Social Security moral?
· Should we be fighting for democracy in Libya?

Dr. Brook will also sketch out the principles of Ayn Rand’s “morality of success” and explain how they enable businesses and individuals to thrive and profit. Rand’s approach will be contrasted with the conventional views of ethics taught in most business ethics classes.

In addition to his role as the executive director of the Ayn Rand Institute, Yaron Brook is a columnist at Forbes.com and his articles have been featured in major publications such as the Wall Street Journal, USA Today and Investor’s Business Daily. Dr. Brook, a former finance professor, is an internationally sought after speaker on such topics as the causes of the financial crisis and the mortality of capitalism. He is also the co-author of Neoconservatism: An Obituary for an Idea.