Eric Liu & Nick Hanauer: Money Good?
on Tuesday, October 25, 2016Eric Liu and Nick Hanauer Money Quote saying we mustn’t equate profitability (ability to make money) with value to the economy. Eric Liu and Nick Hanauer said:
“Just because you can make money doing something doesn’t mean it is good for the society” — Eric Liu and Nick Hanauer
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This quote from Eric Liu and Nick Hanauer suggests that just because an economic activity or business model allows someone to profit, does not necessarily mean it has a positive impact on society as a whole.
They imply that what is financially advantageous for an individual or company may not align with what is collectively beneficial.
The quote highlights the view that making money is not the only standard by which an action or industry should be judged – its broader consequences and social costs/benefits must also be considered.
Even if significant private wealth can be generated, an activity could still be detrimental if it undermines public well-being, equality, health or other societal priorities in the long run.