John Allison on Self-Interest
A delightful podcast with John Allison, chairman of BB&T, about why self-interest is good and how it can help you run a better company. From the EconTalk description:
John Allison, CEO of BB&T Bank, lays out his business philosophy arguing for the virtues of profits, self-interest and production. His definition of justice, one of the core values of his firm, is that those who produce more, get more. He argues that Bill Gates would do more for the world improving Microsoft than running his foundation and giving away money. Allison praises Atlas Shrugged and refuses to let his bank make loans to companies that use eminent domain to acquire property. Is this any way to run a company? Does Allison really run his company this way? How does he deal with the gap between his philosophy and our popular culture’s view of business and profits? Listen as Allison and host Russ Roberts discuss BB&T’s unusual business strategy.
Overall the EconTalk podcasts are both entertaining and enlightening, but so far this one is my favorite.
PS: This is the one I mentioned, Jorge.