The new MBA morality

When I read something like this -- that 20% of Harvard MBA students are signing a new "Promise to Be Ethical in an Era of Immorality" -- it simply makes me suspicious.

First, MBA students protesting that they'll be all concerned about "the common good" -- oh, and that doesn't mean they can't take big-salaried jobs -- makes me wonder if they have any concept of how the world of business works.

There are six things that must be in place -- by the government -- for the free market to work:

1. System of property rights with enforcement
2. System of contract law with enforcement
3. Ban on coercion and fraud, with enforcement
4. Prohibit trade in dangerous (i.e. poisonous, malfunctioning) products
5. Prohibit collusion and monopolistic practices by employers
6. Protect workers from unsafe working conditions

All of these are necessary. All of them come from government.