Two and a Half Cheers for the Midwestern Bourgeoisie: Role of the Virtues in Tempering Business Decisions

A recent book (The Bourgeois Virtues: Ethics for an Age of Commerce, D. N. McCloskey), raises the matter of the role of the virtues in business and economic choice, arguing that capitalism can indeed, be virtuous or at least better than the alternative(s). This argument is especially timely in light of the apparent excesses on Wall Street and in some banking/financial institutions. Excessive greed and often the lack of business ethics contributed in substantive ways to the financial crisis and near economic meltdown we have been experiencing. As McCloskey, (2006, pp. 1-2) argues (in setting the stage for the complex argument made in this 616-page book!): “The book … is directed toward you who are suspicious of the phrase ‘bourgeois virtues,’ pretty sure that it is a contradiction in terms. And the book is directed, with less optimism about changing their minds, toward you who think the phrase is worse: a lie. ‘Bourgeois virtues’ is neither. The claim here is that modern capitalism does not need to be offset to be good. Capitalism can on the contrary be virtuous. In a fallen world bourgeois life is not perfect. But it’s better than any available alternative. American capitalism needs to be inspirited, moralized, completed. Two and a half cheers for the Midwestern bourgeoisie (middle-class, small business owners…. yet)… Many a businessman is an ethical shell or worse. Even the virtues of the bourgeoisie, … do not lead straight to heaven.”

RB30-252 Sex and Age as Factors in Cattle Feeding

Varying economic conditions and changes in the demands of the meat consuming public have been responsible for the turns that have taken place in the beef industry during recent years. Both feeder and producer must recognize and conform to these changes if they are to continue in business. Among the most important of these changes have been the turn toward the marketing of lighter cattle and the gradual disappearance from feed lots of two- and three-year-old animals. Furthermore, the cattle population of the United States is fast reaching stabilization with the resulting effect that more heifers are being marketed, since only one-fourth of the heifer crop is needed to replace worn-out breeding animals. Realizing the increasing importance of the heifer problem from the standpoint of the producer, feeder, and consumer, the Nebraska Experiment Station undertook to compare steers and heifers in a series of trials both in the feedlot and in the beef. It was hoped that these experiments would yield results which would bring out existing differences, if any, between steers and heifers both in quality and quantity of beef produced and thus provide or disprove many of the complaints against heifers. The results of these trials are summarized in this bulletin. Age as well as the sex factor has been considered, since two-year-olds, yearlings, and calves were included in these trials.