Thursday 8 December 2016

VW scandal shines a light on 'greed creed' of multinationals

Published 24/09/2015 | 02:30

Shares in Volkswagen have dropped for the third consecutive day. (AP)
Shares in Volkswagen have dropped for the third consecutive day. (AP)

Every cloud has a silver lining. It may be just a hint of a silver lining in the case of Volkswagen, but the scandal engulfing the car giant does offer an insight into the greed creed practised by huge multinationals.

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It's instructive to bear this voracious ethos of profitmaking uber alles in mind as we listen to expressions of penitence from one VW top dog after another. They're "endlessly sorry" and have "totally screwed up". But their most sincere regrets are for being caught out.

The corporate mindset is a peculiar construct. It doesn't care about common humanity or community or advancing the sum of knowledge - profit maximisation is its overriding focus.

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