Specifically address the claim that a life in business is inherently corrupting to individual character, since appeal to the 'profit motive' is really just an appeal to greed and selfishness. I'd like to see this claim taken seriously, and at least three different arguments proposed in response to it, at least one of which should appeal to the virtues that proponents of the open economy claim are encouraged by participation in such a system. If the counterarguments fail, show me why.

 

Answer:

Counter Arguments fail, it is not true that the profit motive makes a person greedy and selfish because the profit is the need of the business to survive and grow in the future. Business does not promote corruption.

It is true by participating in the economy a business can contribute towards the economy but it does not characterize any person.  Every business is not doing for profit-making.

Step-by-step explanation

Explanation:

 Profit-making is the basic goal for every business. There are three main arguments can be taken for the three main factors which is needed in doing any business: 

  (i) selfishness: when a person starts doing business the sole purpose is to earn profit only not the social services.

  (ii) Greed: a person is making money wants more and more money just for personal satisfaction

  (iii) Corruption: generally corruption is done by the person for entrusting the position in the organization for the illicit benefit and to increase the power in the organization.

Out of the above three arguments, selfishness in business to earn a profit is needed to survive in the business, otherwise business fails to survive in the long term.

Greed is the most important because before starting any business earning profit is the sole purpose but after that making more and more profit is needed to expand the business. It is deferred from the personal character of any person.

Corruption affects the business but business uses different methods and ways to protect the business from corruption. Corruption is not promoted by the business.

Businesses are maintaining the price, interest, supply, and demand accordingly. And playing an important role in the economy.

Sometimes it happens when businesses are not run for profit purposes, these are only for charity purposes. Use for charity what you earn from the business.