Events

Richard M. Locke

Sustainability and Business

The Rafael del Pino Foundation hosted the lecture by Richard M. Locke entitled "Sustainability and Business", as part of the series of Master Lectures "Lessons from the crisis", on 23 March 2010.

Richard M. Locke stated that "Each new episode of crisis is followed by one of attention to ethics, to principles, to responsibility... and so on. And it seems that each time we are reinventing the wheel, instead of asking ourselves in what way economic actors should reflect on the productive system? It seems to me that, just as we educate students in business schools to think in economic terms, we should also educate them to think in moral terms. This does not mean telling them what is right and what is wrong or that these concepts are immovable under any circumstances; instead, we must equip them with a set of skills and tools so that, when faced with difficulties, they can assess the opportunities and alternatives before them, what they mean for them, their companies and for society as a whole.

David C. Schmittlein, Dean of the MIT Sloan School of Management, said: "Innovation is important, but it has to go hand in hand with the social purposes of business and business. MIT Sloan School of Business works to convey that responsibility not only in the classroom; we also have a commitment to hands-on learning so that students go out into the world and see how business can make a positive contribution to society or not; and our students come back truly changed from these experiences in their understanding of the goals of business. This crisis doesn't need fewer smart people working in finance or in government; it needs more smart people and we are committed to developing a new generation of leaders who are prepared, with sound principles that I am sure will prevent further episodes of crisis like the one we are experiencing.

Richard M. Locke gave his lecture as part of the "Lessons of the Crisis" series. The Rafael del Pino Foundation held this series of conferences, which was opened by Enrique V. Iglesias and in which Michel Camdessus also participated. Speakers included Finn E. Kydland, Stefan Ingves, Julio María Sanguinetti, Andreu Mas-Colell, Juergen B. Donges, Makoto Utsumi, Dani Rodrik, Luis Garicano, Robert Barro and Moisés Naím.

The Rafael del Pino Foundation is not responsible for the comments, opinions or statements made by the people who participate in its activities and which are expressed as a result of their inalienable right to freedom of expression and under their sole responsibility. The contents included in the summary of this conference are the result of the debates held at the meeting held for this purpose at the Foundation and are the responsibility of their authors.

The Rafael del Pino Foundation is not responsible for any comments, opinions or statements made by third parties. In this respect, the FRP is not obliged to monitor the views expressed by such third parties who participate in its activities and which are expressed as a result of their inalienable right to freedom of expression and under their own responsibility. The contents included in the summary of this conference are the result of the discussions that took place during the conference organised for this purpose at the Foundation and are the sole responsibility of its authors.