"The seven [virtues] are 'primary' in the same sense that red, blue, and yellow are 'primary' colors. You can get from red and blue to purple, but not from purple and green to red or blue or yellow. You can get from justice and courage to the virtue of honesty, or from hope and courage to the virtue of optimism, but not the other way."
Here is a fact from [Bourgeois Dignity] that every student of organizations — or of anything else! — ought to know. It is the Great Fact: that average real income per head in the world has increased since 1800 by a factor of ten. And in the parts that have caught on to the British example, such as Norway and Taiwan and now even China and India the eventual factor of increase is more like 20 or 30, 1900 percent or 2900 percent over the $3 a day of 1800.Language and Interest in the Economy: A White Paper on 'Humanomics'. Posted July 2011.
Economics ignores persuasion in the economy. The economics of asymmetric "information" or common "knowledge" over the past 40 years reduces to costs and benefits but bypasses persuasion, "sweet talk." Sweet talk accounts for a quarter of national income, and so is not mere "cheap talk.""Afterword" in Orvar Löfgren and Barbara Czarniawska, eds., Managing Overflow in Affluent Societies. New York: Routledge, forthcoming late 2011. "Keep Calm and Carry On? The Economic History of Overflow." Posted July 2011. "Ethics, Friedman, Buchanan, and the Good Old Chicago School: