Capitalism For The Common Good with Adrian Hale

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For the EVOLution of Business

Business


[3:00] Growing up in Rochester, then joining the Marines[6:30] Mentoring from Bob Duffy and coming back to Rochester[9:15] Applying his degree in urban education to Rochester's challenges[12:00] Taking a holistic approach to business - "differentiate free market, equal opportunity capitalism where there is healthy competition, from what we have now...corporate cannibalism"[15:00] "We need to be honest about tax avoidance...this idea that there is not an inherent obligation to the public good...by starving government, business is attempting to introduce themselves as saviors, which I'm hesitant to do. Doing good should not be an act of charity. Doing good should be part of our fundamental obligation to one another as people...there needs to be inherent in the business model, with this aspiration for profitability, how do we at the same time not create these negative externalities BEFORE you start thinking about how to do good."[20:00] "If you continue to subject people to a system that they know they have no real opportunity or chance of succeeding in, then you risk collapse...and if the system collapses, even those who have the most power become powerless."[23:00] How philanthropy can be a "Trojan horse" for corporate reputation that masks how inherent in their business model is the simultaneous cause of many of the problems they claim to ameliorate[27:00] Overcoming the temptation of short-term self interest - poverty as a deficit of aggregate choice - "for far too long, the nature of the problem has been ignored" - "so many people are better at being community-minded when they're OK...self-interest is inherently un-American"[34:00] Leading conversations on diversity, equity and inclusion in the Chamber and among Chamber members - New "Colors of Success" conversations, trainings and programming[40:00] Understanding systems and contexts that restrict opportunities[47:00] Attracting companies to Rochester, developing the talent they're looking for and enhancing the job quality[56:00] The intersection of education and poverty - "We need to focus on the policies, resource flows and conditions that are rendering them to a helpless status where they are not the determiners of who and what they can become. That is when we begin to deal with poverty. We cannot apply an ethics of individualism to people who cannot take action as individuals."