Umm, no Archbishop

The Archbish of Westminster (that\’s the left footed one) says, re the banking system, that:

But the ethical judgment, which has to be transmitted right through the organisations concerned, is that profit must only be a means to this end, and not an end in itself.

Ah, no. Something of the cart before horse there: if we were not addressing the comments of such a distinguished churchman we would say arse over tit actually.

Profit is a byproduct, neither a means nor an end. It\’s a byproduct of producing something that others want for less than they\’re willing to pay for it.

Now there are naughty ways of doing this, certainly, just as there are entirely not naughty ways. But what profit really is is just an indication that you are adding value to whatever resources you are deploying.

It\’s neither a means nor an end.

1 thought on “Umm, no Archbishop”

  1. Hi Tim – a rather sophist criticism I think. Without making any commnent on the archbishop’s comment, my strong hunch is that whatever the economist’s view, the business person is ultimately focussed on the profit – that’s what he’s doing it for, so that for him is the end.

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