Organizational psychologist Alan Downs wrote a book in 1997 describing corporate narcissism. He explores high-profile corporate leaders (such as Al Dunlap and Robert Allen) who, he suggests, literally have only one thing on their minds: profits. According to Downs, such narrow focus actually may yield positive short-term benefits, but ultimately it drags down individual employees as well as entire companies. Alternative thinking is proposed, and some firms now utilizing these options are examined. Downs' theories are relevant to those suggested by Victor Hill in his book, Corporate Narcissism in Accounting Firms Australia.
In his first inaugural address delivered on March 4, 1933, President Franklin Delano Roosevelt implicitly excoriated the practices of corporate narcissism:
Happiness lies not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort. The joy, the moral stimulation of work no longer must be forgotten in the mad chase of evanescent profits. These dark days, my friends, will be worth all they cost us if they teach us that our true destiny is not to be ministered unto but to minister to ourselves, to our fellow men.
Recognition of that falsity of material wealth as the standard of success goes hand in hand with the abandonment of the false belief that public office and high political position are to be valued only by the standards of pride of place and personal profit; and there must be an end to a conduct in banking and in business which too often has given to a sacred trust the likeness of callous and selfish wrongdoing. Small wonder that confidence languishes, for it thrives only on honesty, on honor, on the sacredness of obligations, on faithful protection, and on unselfish performance; without them it cannot live.