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Deals with compliance and regulations

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One area we look at this week deals with compliance and regulations. Adam Smith an early philosopher and economist who wrote the book "Wealth of Nation" believed economies (capitalism) was kept in check by an "invisible hand".

Another perspective comes from one of the readings from last week "Compliance as a Subtle Precursor to Ethical Corrosion: A Strength-Based Approach as a Way Forward " the author quotes John Mackey CEO for Whole Foods saying "selfinterest and altruism can not only coexist, they can both thrive simultaneously without a lot of government meddling."  

For the activity, you are to explain what you believe Adam Smith meant by the "invisible hand". Define "altruism" relating John Mackey's statement to Adam Smith's "invisible hand" and how you believe this relates to business ethics.

Reference no: EM131677726

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