Research Articles Open access Double-blind peer reviewed

Dogma of Profit Maximization

A Sight to Open Secrets

Authors

  • Qamar Uz Zaman Malik (show author details)

    Qamar Uz Zaman Malik

    COMSATS Institute of Information Technology, Pakistan

    Corresponding author

Cite

How to Cite

Malik, Q. U. Z. (2018). Dogma of Profit Maximization: A Sight to Open Secrets. SEISENSE Journal of Management, 1(2), 53-60. https://doi.org/10.5281/zenodo.1228047

More Citation Formats

Download Citation

Share

Share

  • 1,088views
  • 903downloads

Abstract

This essay is a philosophical enquiry into the dogma of profit maximization as one of the dogma premises of capitalism.  Being attracted by the cyclical nature of financial crises as an existential challenge the case is argued to be biased and undemocratic in presence of profit maximization as a guiding principle.  Philosophy as un-dogmatic procedure seems suitably sustained to keep the notion of maximization alive and leaves ground to draw valid arguments considering theory of greater good and justice.  The epistemological approach to understand the efficiency argument as defended seems vague to establish justice, stability and economic democracies.  Bottom up approach may resolve the issue using evident and biased ruling of interest tax deductibility under maximization approach and gain greater good and justice at all levels.   According to reasonable judgment of consequences “equitable and sustainable wealth creation” tends to be more valid corporate guiding principle negating “maximization of profit”.

Keywords

Categories

License

Copyright (c) 2018 Qamar Uz Zaman Malik

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Published in

Vol. 1 No. 2 (2018): SEISENSE Journal of Management View Issue

Reads, last 12 months

2025-122026-11

Article history

  1. ReceivedMarch 23, 2018
  2. Published April 24, 2018

References

Acorn, A. E. (1993). Valuing Virtue: Morality and Productivity in Posner's Theory of Wealth Maximization. Valparaiso University Law Review , 28 (1), 167-205.

Azevedo, A. (2011). Greed is Good - Wall Street & Beyond. Retrieved 2014, from http://philosopher-at-large.blogspot.com/: http://philosopher-at-large.blogspot.com/2011/10/greed-is-good-wall-street-beyond.html

Dworkin, R. M. (1980). Is Wealth a Value? The Journal of Legal Studies , 9 (2), 191-226. CrossrefGoogle Scholar

Forum, G. E. (2014). Worsening Wealth Gap Seen as Biggest Risk Facing the World in 2014. Retrieved Februrary 2014, from www.weforum.org: http://www.weforum.org/news/worsening-wealth-gap-seen-biggest-risk-facing-world-2014

Goldstein, F. (2011). Capitalism at the Dead End: Job Destruction, Overproduction and Crisis. Workers World Party.

Howard, G. S. (1997). The Tragedy of Maximization. Ecopsychology Online .

Hussain, W. (2012). Corporations, Profit Maximization and the Personal Sphere. Economics and Philosophy , 28, 311-331. CrossrefGoogle Scholar

Iannuzzi, E., & Berardi, M. (2010). Global Financial Crisis: Causes and Perspectives. EuroMed Journal of Business , 5 (3), 279-297. CrossrefGoogle Scholar

Jensen, M. C. (2002). Value maximization, stakeholder theory, and the corporate objective function. Business Ethics Quarterly , 12, 235–256. CrossrefGoogle Scholar

Kelman, M. (1987). Legal Economists and Normative Social Theory and Legal Economists and Conservative Preferences. A GUIDE TO CRITICAL LEGAL STUDIES.

Landy, B. (2013). A TALE OF TWO RECOVERIES: WEALTH INEQUALITY AFTER THE GREAT RECESSION. The Century Foundation.

Oxford University Press. (2014). http://www.oxforddictionaries.com/. Retrieved 2014

Posner, R. A. (1985). Wealth Maximization Revisited. Notre Dame Journal of Law, Ethics and Public Policy , 2 (85). CrossrefGoogle Scholar

Richman, S. (2012). The Myth of the Greater Good. Retrieved 2014, from www.reason.com.

Right of Assembly. (2014). Dogma Premises of Capitalism. Retrieved from www.rightofassembly.com: http://www.right-of-assembly.com/dogma-premises-of-capitalism-intro/

Strebulaev, I. A., & Yang, B. (2013). The Mystery of Zero-leverage Firms. Journal of Financial Economics , 109, 1-23. CrossrefGoogle Scholar

Similar articles

Chosen by the keywords and the section they share with this article.