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In reacting to the Enron scandal, many cultural commentators have been quick to recur to a favorite theme: the corrupting power of commerce. Here is a typical example, from the "Letters Column" of the New York Times: "Enron's collapse was a product of the culture of greed, dishonesty, ethical blindness and wishful thinking that has characterized much of corporate America since the advent of the Reagan administration" (John S. Koppel, January 22, 2002). In this view, Enron …

…corporate officers, it is their duty to the shareholders that hire them. As if they sense the inconsistency of their received, altruistic morality, many business leaders adopt cynicism and hypocrisy as a reflexive stance. Thus, it is those most involved in making money that most need to appreciate its meaning. Our capitalistic culture can thrive only when we understand that making money demands our best, and that no apology is needed for achievement and excellence.