Prominent Turkish Businessman "Rethinks Capitalism"

"Adam Smith is probably dead. Maybe it's time to revisit Karl Marx."

These words were uttered by a Turkish businessman named Ishak Alaton, who is the chairman of $800 million conglomerate, Alarko Holding.

Why is it that some businesspeople decide to turn against the very ideals that helped them build their fortunes? Is it guilt? Is it an attempt to limit what others have now that they have theirs? I'm curious why Mr. Alaton didn't come to this Marxist revelation while he was less wealthy? Nothing like someone building their fortune one way, then telling the world how they should live their lives.

Regardless, I think people would be well served to read (or re-read) Adam Smith's Wealth of Nations. It seems to me there are some universal business truths that still ring true today.

From BusinessWeek Turkey
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