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We believe that our chances for happiness in life are greatly enhanced by such ownership. We also believe that ownership is linked to our labors (or the labors of our forebears); the harder we work, the more money we earn, the more able and deserving we are of property. Our moral sense of fairness would be disturbed if the link between effort and ownership were overturned. We think of property ownership as a natural right fully protected by both moral conscience and the laws of the land. Not all property is as physically tangible as homes, cars, and dishes.

We need less external regulation and more internal regulation in order to recover our sense of fairness and goodwill. Our moral sensibilities need a booster shot in order to fight against the temptation to settle for easy, uncompromising answers to difficult problems. Ethics is that kind of booster shot; it can: • Help guide and educate our moral instincts. • Steer us away from uncompromising positions. • Improve our moral vocabulary so that we might talk and listen better. Ethics is in the service of morality.

You study hard, practically memorizing your notes, but then you don’t perform well on the test. An adviser suggests that you practice a relaxation technique, which helps a little. Surprisingly, you get an A on a test for which you barely had time to prepare. Then it hits you that all this time you’ve been trying too hard. Instead of studying to the point of exhaustion and boredom, it is better to stay fresh and take frequent breaks. “Don’t overprepare” becomes the principle by which you decide to live.

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CSR and CSR Investing


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