| Doing good while engaged in the business of making money |
| Socially Responsible Capitalism |
| People:
Whatever the merits of capitalism as a system of economic production, at the most fundamental level, it is about UNSUSTAINABLE exploitation (of human beings, of the environment, and so on)--it is NOT about doing good, regardless of what capitalists will tell you. (Reminder: capitalism is not about philanthropy--nor is it primarily about creating jobs (there would be no unemployment, if that was the case)--it is simply about making money, for the sake of making money, in whatever way possible.) One solution that societies have found to the inherently exploitative/destructive tendencies of capitalism is to regulate it so that it does not completely destroy society and we call that procedural democracy (see definition in the course glossary). On the other hand, from the perspective of capitalism itself, it is possible, up to a point, to engage in capitalist entrepreneurial activity that at the same time does as much as possible to minimize the exploitative/destructive consequences of that activity. This kind of capitalism is usually referred to as "socially responsible capitalism" or sometimes "ethical capitalism." (1) News articles on socially responsible capitalism:
Now that you know what socially responsible capitalism is, you too can do your part (while you are "waiting for the revolution" that will bring in a better world you desire) to support such enterprises by becoming customers of their business. Whenever possible, support capitalist enterprises that do NOT consider making profits the first, last, and only reason for their existence--regardless of how those profits are made: destruction of the environment; super-exploitation of labor (including child labor); corrupting the democratic process by paying off politicians, etc.; making/selling harmful products; and so on. |