A Force for Good Quotes

“To illustrate the important differences between rules and principles, how do you react to the following statement? Thou shall not kill. If you are like most people, your mind is probably thinking of a number of exceptions: What about in the time of war, or in self-defense? What if, on the other hand, I said, Love one another. Now where does your mind go? You’re caught, aren’t you? There is no exception to be found. Thou shall not kill is a rule; Love one another is a principle. A rule merely requires compliance, whereas a principle requires discernment, the ability to judge wisely and objectively. If you want to define a higher standard of care based on trust, you must do so with principles, not rules.”
― John G. Taft, A Force for Good: How Enlightened Finance Can Restore Faith in Capitalism

“It is little short of amazing how long ago these prescient warnings were issued. Justice Stone warned us in 1934. John Maynard Keynes warned us in 1936. Benjamin Graham warned us in 1958. Isn’t it high time we stand on the shoulders of these intellectual giants and shape national policy away from the moral relativism of peer conduct and greed and short-term speculation—gambling on expectations about stock prices? Isn’t it high time to return to the moral absolutism of fiduciary duty, to return to our traditional ethic of long-term investment focused on building the intrinsic value of our corporations—prudence, due diligence and active participation in corporate governance?”
― John G. Taft, A Force for Good: How Enlightened Finance Can Restore Faith in Capitalism