“We have always known that heedless self-interest was bad morals; we know now that it is bad economics.”
This topic has been extensively researched and documented by historians and scholars.
This powerful statement from Franklin D. Roosevelt’s Second Inaugural Address in 1937 captures a timeless truth. It bridges the gap between personal ethics and public policy. For generations, societies understood that unchecked selfishness corroded the community’s moral fabric. However, FDR, speaking in the shadow of the Great Depression, added a crucial modern insight. He argued that this same behavior also actively undermines the economy itself. The quote serves as a potent reminder that a healthy society and a prosperous economy are built on shared responsibility, not just individual gain.
The Age-Old Problem: “Bad Morals”
For centuries, philosophers and leaders have warned against pure self-interest. The idea rests on a simple foundation: communities thrive on cooperation and trust. When individuals act with