Word: self-interest
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...this the essential paradox of the age of Obama, that we have to destroy the village in order to save it, bust the budget in hopes we'll someday balance it, play to self-interest to promote the national interest? Just as the Cash for Clunkers frenzy reached its peak, the Administration quietly released new deficit projections, which pointed to a $9 trillion gap over 10 years. In the middle of a national nervous breakdown over out-of-control spending, we took a summer break from puritanical fretting and got all excited about a federal subsidy for something we already...
Some of the passion stems from a legitimate frustration that the government is already too deeply involved in the economy and is about to be more so. But some is simply self-interest. "All we are saying," sang the doubters in Towson, Md., co-opting the John Lennon ditty from 1969, "is pay your own bills...
...Furthermore, new research suggests that a key assumption made in creating monetary incentives for loan modifications - that economic self-interest would make firms eager to modify loans - may be wrong. Economists at MIT and the Federal Reserve banks of Boston and Atlanta have found that about 30% of borrowers who become seriously delinquent on their payments later catch up. A big deal has been made of the redefault rate - the high number of borrowers who wind up missing even modified payments - but the new finding about the large percentage of loans that "self-cure" indicates that servicers might actually...
Participants remonstrated University administrators for slashing the jobs of long-time employees while failing to issue pay cuts for themselves and top financiers. Speakers reiterated their belief that Harvard's top leaders' actions have been motivated by greed and financial self-interest and argued that the University's behavior has been unbecoming of its non-profit designation. One protester's sign even asked, "Harvard: University? or Investment Bank...
...among MBAs is not to frame “acting in an ethical manner” as a sacrifice—in which wealth is exchanged for virtue—but rather as an opportunity for gain through happiness. Ethical behavior (just like unethical behavior) can be born of self-interest. For everyone’s benefit, publicizing these findings from positive psychology might be just as important as oaths...