Complex regulation in place of simple-rules capitalism disrupts market processes and corrupts business incentives.

Voluntary actions by corporations should not go beyond innovative win - win 'no regrets' initiatives. Greenhouse gas control practices that are uneconomic penalize either consumers or stockholders while politicizing the issue of corporate responsibility. Few will be satisfied, and the ineffectual measures will eventually have to be abandoned.

Complex regulation in place of simple-rules capitalism disrupts market processes and corrupts business incentives.

A new model of heroic capitalism based on principle-driven, free-market entrepreneurship deserves a central place in business-ethics thought and action.