Article
BP, Goldman Sachs, and Massey could learn a lot from ultimate frisbee
With each new corporate calamity, we call for stronger government intervention. But...we shouldn't depend on government to make business act in the best interests of society. We need to cultivate in corporate executives respect for not just the letter but the spirit of the law... [Let's] look to one game for guidance: ultimate frisbee... Players are expected to call their own fouls – and do... This ethos is known as the "spirit of the game."... Business would do well to learn from it... [It's] clear that companies can't just sit back and watch the cash flow in once they've obtained their legal license to operate. Rather, to ensure their own sustainability, companies also have to secure a social license to operate from the people their business touches. This requires ethical behavior, whether or not it is required or enforced by government regulators.