Right Is Might SOCIAL JUSTICE AND CORPORATE PROFITS

Promod Sharma | FSA, FCIA Insurance Actuary | @riscario

May 31, 2014

84% Business

Self-interest

… … doing good work for society

Right = $$$

The work of science is to substitute facts for appearances and demonstrations for impressions. John Ruskin

verifiable truths

displays of proof

The work of science is to substitute facts for appearances and demonstrations for impressions. John Ruskin

The work of science is to substitute facts for appearances and demonstrations for impressions. John Ruskin

Right = ?

Doing What’s Right

PAST: demonstrations

FUTURE: appearances

Blaise Pascal (1623–1662)

Pascal’s Wager

probability theory

decision theory

Do Right And

Matters

Do Right But Doesn’t

Matter

Do Wrong And

Matters

Do Wrong But Doesn’t

Matter $

Bank

-rupt

$ $$$

$$$

Do Right But Doesn’t

Matter

insurance

Do Right And

Matters

insurance

Do Wrong But Doesn’t

Matter

Do Wrong And

Matters

Do Right And

Matters

Do Right But Doesn’t

Matter

Do Wrong And

Matters

Do Wrong But Doesn’t

Matter

$ $$$

$$$

insurance insurance

206,650

Gatorade: Don’t put flame

retardant chemicals in sports

drinks!

1,129

+ 2,515 Rana Plaza, Bangladesh

April 24, 2013

“… none of the

companies

involved are suppliers

to Benetton Group or

any of its brands” (@benetton,

Apr 24, 2013)

DENIAL

attendance

sheet

label

REACTIVE

$17M

$40M Compensation Fund

REACTIVE

LEAD

Pretend you can read this

“putting social values first.”

11,536

Project Ara

59,374

Powerade: If Gatorade can

take crazy chemical BVO out

of sports drinks, so can you

The Most Credible Spokespeople

Edelman Trust Barometer 2014 – Executive Summary

Most trusted sources

Do Right And

Matters

Do Right But Doesn’t

Matter

Do Wrong And

Matters

Do Wrong But Doesn’t

Matter

$ $$$

$$$

insurance insurance

Promod Sharma | @riscario