I do not know is star editoralist Carol Goar has an Order of Canada
but she should have.
Nobody in this country has so vigorously defended the Common Good as
her.The woman has been idefatigable in her persistent defense of one
of the cardinal points of Catholic Social Teaching. While never using
religious language Goar always forges strong moral arguments on behalf
of a true national interest. Without naming enemies of the common
good, she always manages to skewer the apostles of greed, male and
Her latest column in today’s Star is a classic.Entitled Business looks in mirror and winces, Goar begins like this
Contrition would be too much to expect of the corporate executives and financial wizards who tipped the global economy into a recession last fall. But there is some serious rethinking going on, judging by this year’s convocation at the Rotman School at the University of Toronto.
Read the column for yourselves but if there ever was a constituency needing to be taken to the woodshed it is the busines class and the catstrophe it has created.
I think we are all a bit sick of those MBA grads coming out of business schools with inflated senses of entitlement and compensation way beyond their contribution to society.
Goar summarizes Professor Michael Porter of Harvard’s remarks to the Rotman Business school like this
He placed most of the blame on chief executives who became so obsessed with shareholder value in the 1990s that they lost sight of the real economy in which goods and services are produced, profits are earned and people make a living.
They judged their worth by the appeal of their stocks. Bankers and brokers cheered them on, treating companies that beat investors’ expectations (even if they did it by cutting corners) as superstars and companies that produced solid, steady returns as wallflowers.
In a lovely understatement Goar described the response:
The audience of 300 – composed of corporate executives and Rotman faculty and graduates – listened attentively and asked a few questions. The applause was more respectful than enthusiastic.