Financial self-interest is justified as advancing the common good.
Evidence
The customary justification in the finance industry—and indeed, industry as a whole—takes the following form: Unfettered by intrusive regulations, commercial innovations flourish, and productive industries fuel economic growth. The finance industry promotes and sustains economic viability for the nation. In doing so it contributes to the livelihood of the nation’s citizenry and raises the standard of living. Market forces are alleged to be governed by rational decision making. The free market rewards good financial practices with success and punishes bad ones with failure, Thus, when left to its own devices, the free market is self-correcting. Thus, the finance industry makes life better for everyone. By vigorously pursuing their self-interests, financiers are advancing the common good. — Albert Bandura, Moral Disengagement, 364
Categorization
- SEED: Connects directly to the justification-mechanism article angle: how free-market ideology functions as a moral-disengagement justification that reframes self-interest as civic virtue.
- corroborated: 2 independent passages support this claim — Albert Bandura, Moral Disengagement: How People Do Harm…, 364
- XREF: connects to: Financial self-interest is framed as advancing the common good through free-market logic