A Quote by John C. Bogle
In an ideal world, Adam Smith-like, individuals would recognize what they need to do in their own self-interest, and they will make changes happen and look after themselves.
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Adam Smith had one overwhelmingly important triumph: he put into the center of economics the systematic analysis of the behavior of individuals pursuing their self-interest under conditions of competition.
Adam Smith pointed out that there were three things that make us more prosperous, in a general sort of way: freedom to pursue our own self-interest; specialization, which he called division of labor; and freedom of trade.
The part of capitalism that doesn't work for me is when capitalists make decisions in the way that Adam Smith suggested, which is that as long as you do everything in the interest of the investor, you're going to actually make the best decisions for all other stakeholders. I don't happen to agree with that.
The most unhappy people in the world are the ones who live only for themselves. All that they do, they do only for their own sake. For these self- centered individuals, the most precious things in the world is their ‘self.’ Like a cancer that eats and destroys its own cells, the self-centered individual is slowly dying inwardly.
It hath been said, that there is of nothing so much in hell as of self-will. The which is true, for there is nothing else there than self-will, and if there were no self-will, there would be no Devil and no hell. When it is said that Lucifer fell from Heaven, and turned away from God and the like, it meaneth nothing else than that he would have his own will, and would not be at one with the Eternal Will. So was it likewise with Adam in Paradise. And when we say Self-will, we mean, to will otherwise than as the One and Eternal Will of God willeth.
What is supposed to happen in a democracy is that each sovereign citizen will always vote in the public interest for the safety and welfare of all. But what does happen is that he votes his own self-interest as he sees it... which for the majority translates as 'Bread and Circuses'.
Perhaps if we could popularise through the techniques of branding and consumerism, a different idea, a different narrative, perhaps the world can change. After all it changes constantly and incessantly, it's just the perceptions that we have are governed by people with self-interest and are not inalignment with the health and safety of us as individuals or as a planet.
The visual arts must communicate to the human spirit, forcing individuals to reflect on themselves and their existence beyond their own self-interest.
Gandhi rejects the Adam Smith notion of human nature as motivated by self-interest and brute needs and returns us to our spiritual dimension with its impulses for nonviolence, justice and equality. He exposes the fallacy of the claim that everyone can be rich and successful provided they work hard. He points to the millions who work themselves to the bone and still remain hungry.
Most people are playing the game of compounding interest, which is self interest - how do they take care of themselves and produce more for themselves, storing value for their own benefit. I play a different game. A game I call 'compounding impact.' How do you make a positive impact in the world?
Adam Smith saw the greed of modern capitalism for what it was - a form of destructive ambition that may have favorable effects on the productive capacities of society, but which is of no direct benefit to anyone - not even to the greedy themselves, whose illusory chase after a will-o-the-wisp leaves them morally bankrupt and unhappy.
There will always be some people who think for themselves, even among the self-appointed guardians of the great mass who, after having thrown off the yoke of immaturity themselves, will spread about them the spirit of a reasonable estimate of their own value and of the need for every man to think for himself.
My name is Adam. My father's name is Adam. Having the same name as your father, it's alright until your voice changes. My friends would always call up, 'Is Adam there?' My father would say, 'This is Adam.' My friends would say, 'Adam, you were so wasted last night.'
Will Smith would not be Worldwide Will Smith if he had not insisted on going worldwide and touring with his films. You have to build that audience for people and allow for it to happen.
Mitt Romney's only bottom line is the one at the end of his own bank statement. The problem is that he confuses his own narrow, self-interest - and that of people like him - with the national interest. He thinks as long as we do right by the Mitt Romneys of the world, America will be just fine.
We need to graduate from the ridiculous notion that greed is some kind of elixir for capitalism - it's the downfall of capitalism. Self-interest, maybe, but self-interest run amok does not serve anyone. The core value of conscious capitalism is enlightened self-interest. As Jim Cramer on CNBC says, "Bulls make money, bears make money, pigs get slaughtered."
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