It can be hard to make a living in modern Britain. Contrary to the prediction of Bertrand Russell we have not all been freed from the bonds of labour. The arrival of labour saving devices has not given us the freedom we expected. Robots apparently do not even threaten jobs, according to some reports each robot leads to the creation of three jobs for those who need them. Given that labour saving computers need constant attention to clean up viruses and malware and find solutions for the bloat of new updates this might not even seem surprising.
Mind you it is possible to buy your way out of the daily grind and thus leave your days open to pursue more fruitful ways of making a living. For the average person perhaps, the promised future in which machines would do our work for us has not arrived. For those who have the money to buy their tickets to freedom from hard work it is quite possible. Obviously a substantial amount of money would be needed to manage this, maybe a decade or two’s wages for most people. A lot of people have managed it. Sometimes they only succeeded because they inherited the requisite amount but others have worked their way into the position through their own cunning and ruthlessness. For some people the very act of buying one’s way out of work becomes a job in itself, even an obsession as they become wealthier and wealthier.
You may have worked out by now that it is the world of shares, stocks and financial trading to which I refer. If you can work out which businesses are going to be successful then you can become wealthy. If you can work out which ones will simply keep on a level then you can potentially bring in an income sufficient to keep afloat. For a lot of people who have to spend their days sweeping, building, digging, driving, painting, vending, etc, there is one obstacle that can prevent them making a living through this method. Aside from needing to learn the esoteric intricacies of entering the world of stocks and shares there are ethical considerations that many find hard to overcome.
Naturally one makes investments in order to earn money. A lot like the days when banks offered reasonable levels of interest except that the levels possible with a good investment can be far more interesting. In order to make money the investment must be in the sort of company that is likely to make more money and pay out dividends. With a free market in which regulation is kept to a minimum the more successful companies are also the most ruthless companies. They are the companies that don’t mind chopping down forests full of undiscovered creatures; they are the companies that don’t mind sourcing their products from unregulated factories where the age of the workers does not concern the owners, or the materials used might have been mined at terrible cost to the environment and the miners; they are the companies that see the law as a set of rough guide lines that can be interpreted in many ways, and if by chance that interpretation was incorrect the payment of a fine will be all the recompense necessary.
There are of course many successful companies that have far more ethical processes than these but those are the companies that must work extra hard to compete with the less ethical companies. The odds are that they will be paying their workers the lowest prices they can get away with and they will pay their taxes wherever is most convenient, as well as cutting costs by expecting their staff to do excellent jobs with old and malfunctioning equipment. Once again I may have painted a picture of a less than desirable company to hitch one’s ethical karma to.
Of course there are many flavours of business, but if a person wishes to buy shares in a company then the companies that are floated publically on the stock exchange do largely fit into these two categories, and for many people with the intelligence to work out where their money will get the best return these ethical shortcomings are unreconcilable. This is one of the reasons why many people never succeed in buying their way out of logging, farming, welding, bricklaying, fishing, etc. For these people the idea of sitting back and letting the money flow in from all these dubious business practices is as unacceptable as sitting in a bedsit on the dole waiting for junkies to come and buy heroin off them. Here we see a potential meeting of morals between the middle classes and the so called scroungers that Ian Duncan Smith is so intent on destroying.
For the people who are still earning their money without supplementation from shares it might seem as though they are the ones left behind by Bertrand Russell’s prediction. They look on the travesties conducted in the name of business and just hope that one day regulations will be put in place to prevent such practices and in the mean time they hope that perhaps consumers will choose companies with fewer ethical violations. They see the banks distorting markets and losing billions only to be bailed out by tax payer’s money and have little recourse beyond tutting and grumbling in the pub later. They would vote for a government that would sort it all out but the political parties have little difference between them and place GDP so high on their scale of priorities that they aren’t going to be the ones to sort it out unless a critical mass of public opinion forces them.
Getting such a critical mass of opinion in a nation is not an easy job for anyone. Pressure groups and charities work hard to force businesses to be more ethical and for governments to create better legislation, but it all blends together into the buzz of daily news. The political parties canvas to gain voters but as the last election showed no party can even gain a majority at present. Since then the political landscape has become even more fragmented. It is difficult to align the wishes of an entire nation so government ends up controlled by whoever has the loudest voices. These are media organisations with their own business interests which tread the delicate path between success and failure just as any other large business.
The solution to the problem of poor ethics in business for all those who have been trying to keep their hands and their morals clean, is the solution that goes immediately against their instinct. It is by investing in the very companies which have these terrible practices that they can guide them towards better ways of doing business. In day to day running of these companies the board of directors makes business decisions based upon rules that are set out in the Companies Acts. These rules suggest they ought to think about broader issues and their effect on their environment but only really so long as they don’t let it stand too badly in the way of returning maximum profit to the shareholder. However the secondary input that guides their decision making is the input of investors at any meetings they attend.
Given that the entire country proves to be problematic even for the Prime Minister to lead or control it makes sense that ordinary people would only be able to make the world better in smaller ways. Start with the world in front of you. At a certain point one begins to realise that doing the washing up or the vacuum cleaning is quite satisfying but makes no real long term impact on the world and the problems that afflict it. Conveniently if it is possible to save or raise even a small amount of cash it is possible to step into those companies that appear in the newspapers every day. Those things that people vote to change in elections can be changed from within the companies themselves. Admittedly it is still necessary to have the backing of many other like minded thinkers, but far fewer than in a public election. Alternatively simply raising enough money can give one investor the voting power of many.
Without the force of legislation there are few ways to change the behaviour of a company. Consumer action works to an extent but is often easily exhausted and difficult to affect by repairing company behaviour. Only by getting power inside a company itself can one be most assured of getting close to having a positive influence over the way that company conducts its business. By attending shareholder meetings one stands a far better chance of meeting other shareholders and of affecting their thought processes. The more shares a person owns and the more ruthless the company in which they have bought the shares, the more potential for good they can create in shareholder meetings. A side effect of this method of trying to make a better world is that those dividends are received by the people who are working hardest to prevent the companies in question from doing any further harm. That is the way to buy into Bertrand Russell’s prediction without breaking one’s moral principles.