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OpinionLetters

Letters to the Editor, December 19, 2017

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Hang Seng Index figures displayed in Central indicate a new high for the stock market. Photo: Sam Tsang
Letters

Profit motive is the source of inequality

Stephen Cheung’s article (“How business can profit all”, December 15) repeats a widely held view that private enterprise and the profit motive can together play an ­important role in solving Hong Kong’s many social and ­environmental troubles.

Like many people, Professor Cheung fails to understand that the pursuit of profit and private enterprise are indeed the source of Hong Kong’s problems. They cannot logically be the solution.

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It is the blind pursuit of profit that leads to doctors poisoning patients in Causeway Bay ­beauty clinics. It is putting ­private enterprise before social well-being that results in the ­extreme levels of inequality and 20 per cent of Hong Kong people living in poverty.

It is to protect business that Hong Kong tolerates the air pollution, the heavy metals in the water and the gutter oil in its kitchens. Hong Kong cannot fix its social and environmental challenges while it believes that “business can profit all”.

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Such thinking stems from an economic philosophy designed for the 19th century.

Graeme Maxton, secretary general, the Club of Rome, Winterthur, Switzerland

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