Tag Archives: Corporate responsibility

A New Kind of Capitalism

Capitalism can mean dramatically different things to different people. To a Wall Street executive it means being able to accumulate unimaginable wealth. To big business it is a competitive game that must be won at all costs, even at the expense of the public interest. To a small businessman with a great idea, it means being able to turn his passion into an occupation, and enjoy the freedom of self-employment. To many, it is a system that has increased the standards of living for millions. To its victims, capitalism is a monster whose greed leaves many behind, and even commits great crimes against helpless citizens. Which view is correct? All of them.

If by capitalism we mean creating markets that meet the needs of the public, allowing the best ideas and products to succeed through demand, then this is a highly democratic system that should be encouraged. If capitalism means “greed is good,” and we should look out for our own self-interest at all costs than this is a very anti-social, destructive philosophy that must be tempered.