"[A]ppeals were often made by reformers who, while fully convinced of the intrinsic value and social justice of the measures they advocated, attempted to enlist the support of important groups by appealing to their "longer term" rather than short-term and therefore presumably short-sighted interests. But the advocacy was not only tactical. It was sincerely put forward and testified to the continued prestige of the notion that interest-motivated social behaviour was the best guarantee of a stable an harmonious social order."
Saturday, 14 May 2011
As I was saying...
Albert Hirschman, hero. Why do I ever entertain the idea that I've had an original thought? The first couple of sentences below from Hirschman (from this) could have easily been written about the promotion of responsible investment over recent years.