Some argue that the private sector's proven inability to regulate itself caused the proliferation of government regulation. According to this view, ethics were eroded by the rise of the modern corporation. 10 Capitalism and the profit motive have been called into question as being the seed of immorality. But, I question the veracity of this. First, we cannot accept the view that capitalism is built upon the profit motive.
Capitalism is about freedom to choose.
As Brian Griffiths points out, the fact that an organization must turn a profit to remain a going concern, does not mean that it must choose to put making money its top priority. Granted, a good steward should employ economic analysis in decision-making. Second, we cannot accept the assumption that the modern corporation has chosen the profit motive as its guiding light. The source of the bad seed was the 1886 Supreme Court ruling in Santa Clara County v. Southern Pacific Railroad, which granted the corporation the full rights of individual citizens, while simultaneously freeing it from the responsibilities that hold individuals accountable. Since man's heart is selfish, inequities in market competition will exist.