Your title asks a different question than your post: “useful” vs. being a “social virtue.”
Consider two companies: A and B. Each has the option to pursue some plan X, or its alternative Y. X is more ruthless than Y (X may involve laying off a large portion of their workforce, a misinformation campaign, or using aggressive and unethical sales tactics) but X also stands to be more profitable than Y.
If the decision of which plan to pursue falls to a ruthless individual in company A, company A will likely pursue X. If the decision falls to a “highly competitive, compassionate, with restrictive sense of fair play” individual in company B, B may perform Y instead. If B does not perform Y, it is likely because they noted the comparative advantage A would have, being likely to pursue X. In this case, it is still in B’s interest to act ruthlessly, making ruthlessness useful.
Now, is it a virtue? Well, for a particular company it is useful: it allows the pursuit of plans that would otherwise not be followed. Does the greater society benefit from it? Well, society gains whatever benefit is gained from business pursuing such plans, at the cost of whatever the costs of such plans are. But it is a useful enough character trait for one company’s executives that it grants a competitive advantage over other companies where that trait is absent. Thus, it is an advantage- and perhaps a virtue, I am not sure how that word cashes out here- for each company. Companies without ruthless executives may fail to act or fail to act quickly where a ruthless executive wouldn’t hesitate. So in situations where ruthless tactics allow one to win, ruthless individuals are an asset.
I’m not sure what more can be said on this, as I don’t have a good way of cashing out the word ‘social virtue’ here or what practical question you are asking.
Your title asks a different question than your post: “useful” vs. being a “social virtue.”
I chose a somewhat misleading title deliberately, although I can understand if people take issue with that. As I acknowledged in the post itself, it’s clear that ruthlessness can be useful from the perspective of individual companies. From the perspective of a person judging their value to society, it’s not so clear that ruthless business executives are useful. Their competitive advantage may lie purely in allowing them to make decisions that are in the company’s interest, but not the public interest.
Where is the incentive for them to consider the public interest, save for insofar as it is the same as the company interest?
It sounds like you think there is a problem: that executives being ruthless is not necessarily beneficial for society as a whole. But I don’t think that’s the root problem. Even if you got rid of all of the ruthless executives and replaced them with competitive-yet-conscientious executives, the pressures that creates and nurtures ruthless executives would still be in place. There are ruthless executives because the environment favors them in many circumstances.
I’m not arguing that the core of the problem is that business executives are too ruthless. But I do suspect that to the extent that the current system rewards ruthlessness, it may be purely or almost purely due to ways in which it deviates from a system that offers no perverse incentives from a societal perspective.
Your title asks a different question than your post: “useful” vs. being a “social virtue.”
Consider two companies: A and B. Each has the option to pursue some plan X, or its alternative Y. X is more ruthless than Y (X may involve laying off a large portion of their workforce, a misinformation campaign, or using aggressive and unethical sales tactics) but X also stands to be more profitable than Y.
If the decision of which plan to pursue falls to a ruthless individual in company A, company A will likely pursue X. If the decision falls to a “highly competitive, compassionate, with restrictive sense of fair play” individual in company B, B may perform Y instead. If B does not perform Y, it is likely because they noted the comparative advantage A would have, being likely to pursue X. In this case, it is still in B’s interest to act ruthlessly, making ruthlessness useful.
Now, is it a virtue? Well, for a particular company it is useful: it allows the pursuit of plans that would otherwise not be followed. Does the greater society benefit from it? Well, society gains whatever benefit is gained from business pursuing such plans, at the cost of whatever the costs of such plans are. But it is a useful enough character trait for one company’s executives that it grants a competitive advantage over other companies where that trait is absent. Thus, it is an advantage- and perhaps a virtue, I am not sure how that word cashes out here- for each company. Companies without ruthless executives may fail to act or fail to act quickly where a ruthless executive wouldn’t hesitate. So in situations where ruthless tactics allow one to win, ruthless individuals are an asset.
I’m not sure what more can be said on this, as I don’t have a good way of cashing out the word ‘social virtue’ here or what practical question you are asking.
I chose a somewhat misleading title deliberately, although I can understand if people take issue with that. As I acknowledged in the post itself, it’s clear that ruthlessness can be useful from the perspective of individual companies. From the perspective of a person judging their value to society, it’s not so clear that ruthless business executives are useful. Their competitive advantage may lie purely in allowing them to make decisions that are in the company’s interest, but not the public interest.
Where is the incentive for them to consider the public interest, save for insofar as it is the same as the company interest?
It sounds like you think there is a problem: that executives being ruthless is not necessarily beneficial for society as a whole. But I don’t think that’s the root problem. Even if you got rid of all of the ruthless executives and replaced them with competitive-yet-conscientious executives, the pressures that creates and nurtures ruthless executives would still be in place. There are ruthless executives because the environment favors them in many circumstances.
I’m not arguing that the core of the problem is that business executives are too ruthless. But I do suspect that to the extent that the current system rewards ruthlessness, it may be purely or almost purely due to ways in which it deviates from a system that offers no perverse incentives from a societal perspective.
I’m guessing you mean X stands to be more profitable than Y?
Edited. Thanks.