×

Does money talk?

To the Journal editor:

One of the great books ever written was “The Wealth of Nations” and it was written by a Scottish professor, Dr. Adam Smith, in 1776. You learn about Dr. Smith in economics classes and he is quoted by business people and corporate managers, although they probably have never read it.

Dr. Smith wrote the book for a specific reason to introduce what constituted the real wealth of a nation — the efficient use of land, labor and capital. What he wanted to replace was an entrenched system known as mercantilism. The mercantilists controlled the commercial interests and political powers of that day by establishing government-authorized monopolies at home and colonialism abroad.

Here is a quote from the chapter on the Wages of Labour: “A man must live by his work and his wages must be at least sufficient to maintain him. They must even upon most occasions be somewhat more; otherwise it would be impossible for him to bring up a family…”

Dr. Smith also writes about excessive application during four days of the week and why idleness is needed for the other three. He believed that man should work moderately to preserve his health which results in the greatest quantity of work.

I am pretty sure 12- and 16-hour shifts are excessive applications and will negatively affect the health of our nurses at UP Health System and their ability to deliver the best care.

Is your corporate management is so inept and uninspiring that they can’t efficiently and effectively manage their human resources? Or is there another, maybe more sinister motive perhaps to break the union which our nurses have chosen to be a part of and which you agreed to when you bought the hospital?

Capitalism in not only about the bottom line. Dr. Smith also wrote another book, his first, “The Theory of Moral Sentiments.” I will leave you with the opening lines of what the father of classical economics wrote: “How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing except the pleasure of seeing it.

“Of this kind is pity or compassion, the emotion which we feel for the miser of others, when we see it…”

Cynthia Hoffman

Marquette

Newsletter

Today's breaking news and more in your inbox

I'm interested in (please check all that apply)
Are you a paying subscriber to the newspaper *
   

Starting at $4.62/week.

Subscribe Today