Categories
Philosophy

Social Responsibility of Business is to Increase its Profits

The article is a perfect demonstration of the capitalist principles that have been both foundational and crippling to the concept of freedom. The points made by the author are alarmingly similar to the arguments commonly presented today on the conservative side of the health care controversy.  Essentially, the problem lies in the interpretation of social responsibility. Capitalist purists base this concept on economic freedoms, and assert that by focusing on profits, a business is supporting the most basic and important of social responsibilities by actively participating in the free market. While the argument is theoretically valid, it is an example of the constricted view of freedom that has sustained the many social inequalities and deficiencies that could otherwise be prevented, reduced, or eliminated by corporate interventions. A business that is solely concerned with profits is not necessarily a socially irresponsible entity. Profits support many important social functions including the addition of employment opportunities, and the introduction of previously unavailable services to a community. Unfortunately, these effects are reduced if not eliminated by the damage that is caused by disregard for other social issues. Pollution and unfair wages are two of many problems that may arise from social neglect due to profit chasing. The opinions in the reviewed article are supported by the capitalistic interpretation of social responsibility and ignore the flaws that have become apparent in the ideology. This is not surprising, especially considering that the author did not have the benefit of observing the past forty years of history.