Known Business Philosopher

1. John Locke (1632-1704)
Biograph
y
•British Philosopher
•Empiricist &
environmentalist
•Father of Liberal
Philosophy
•Believed that child’s
mind was blank slate,
“tabula rasa”, and
learned through
experience
Lasting Impact
•Empiricism-
Knowledge
is based on
Experience
•Self interest - High
Goods
Lead to Happiness
•Liberalism – Justice
in Business
Fairness, trust &
openness
•Social contract –
mutual transferring of
right
Which individuals
would receive
Thomas Hobbes (1588-1679)
Born in
London.
Founders
of Modern
Political
Philosophy
and
Political
Science.
State of
Nature
In a state
of nature
men and
women
would
selfishly
take care
of
themselve
s and not
care about
anybody
else
Organized Leviathan
Monarchy
Social Contract
In order to live in a
happy peaceful
life, people had to
enter into a social
contract.
Society
Society
Government
Leviathan
People
work
together to
make a
county
Type of
Government
Absolutist/Mona
rchy
Hobbes says
that there has to
be a supreme
power in the
society and that
it is limitless,
People needed to
organize
themselves into
systems and that a
King should run
the society to
“If you
cannot
beat
them,
buy
them” “what you do to yourself, must be beneficial
to others”

2. Adam Smith (1723-1790)
“Father of Modern
Economics”
“The Wealth of Nation”
What Makes Country
Rich?
Division of
Labor
Greater
specialization
up to a point
– leads to a
greater
wealth for all.
Invisible
Hand
The free
market works
well with
relatively little
interference,
almost as if
an unseen
force is
guiding it.
Political
Economy
Nations have
the right and
responsibility
to adopt
practical tax
and money
policy.
Industrial
Revolution
Manufacturin
g transitioned
from
individuals to
mechanized
factories.
Progres
sive
Taxation
The rich
can
afford to
pay
more
taxes
than the
poor
Contribution
Savings &
Investment
When
people save
and invest
their money,
they create
wealth
Free Trade
Countries prosper
when they can trade
freely with each
other
Agriculture & Infrastructure
Individuals, not governments,
should support farming, but
governments should maintain
public services
Specialized Labor & Living
Wages
The economy booms when
workers specialize, but they
have to be able to afford live
Deregulation & Competition
Government regulation
interferes with economic
growth and competition but
banks should be regulated
No society can surely be flourishing and happy, of which the far greater part
of the members are poor and miserable”
“
David Hume (1711-
1776)
Justice &
Equality
Understand
customer pay
for quality
goods and
services
Moralist
Behaving morally
and leading an
ethical life in the
context of
Building a wealthy and
powerful state
Restraining import and
encouraging export
HR
Principle
“Take care
of your
employees
or other
will.”
Prepared by:
Anna Liza H. Manalo