Topic > Capitalism and corporate responsibility - 1197

Is there a purpose in life? Everyone has a slightly different opinion on this topic, but it revolves around a central and unifying concept eloquently stated by Robert F. Kennedy: “The purpose of life is to contribute in some way to making things better.” If this is truly the purpose of life, then every individual can find personal fulfillment by working for the betterment of humanity and our planet. This means that companies have a decision to make: are they in business simply to make a profit, or do they have a responsibility to make things better? By fully understanding the disadvantages of capitalism and learning about the beginnings of our economy, we learn that capitalism has never been about our society. It was, and still is, simply an economic system intended to benefit private owners and their shareholders. When capitalism is understood and we learn to recognize the teachings of “self,” perhaps then more companies will be inspired to break the mold to support their employees, communities and the environment. Capitalism describes the major economies of the West. Simply put, capitalism is “an economic system based on private ownership of the means of production, distribution and exchange, characterized by the freedom to operate one's own business for profit.” (The American Heritage® New Dictionary of Cultural Literacy) The key difference from previous economies was the idea that governments were no longer able to refuse certain imports or interfere with exports through taxes and sanctions. (Encyclopedia Britannica). Capitalists believe in individual capabilities, individual strength and unnameable rights. Americans are taught that they have rights, that they are entitled to this, and that with hard work, they too can achieve a... middle of paper ......ww.britannica.com/EBchecked/topic /93927 /capitalism>.Encyclopedia Britannica. "free trade". Ed. Enciclopedia Britannica Inc. 2013. Web. .Mackey, John and Raj Sisodia. “‘Conscious capitalism’ is not an oxymoron.” January 14, 2013. Harvard Business Review. Network. .Mulini, Giovanni Stuart. "On Freedom." Volume 25. 1860. Constitutional Society. Ed. PF Collier & Son. Harvard Classics. Network. .Dr. Sheedy, Civilization Differences: East and West. Reflect on life. Network. .Dr. Sheedy, Self vs. Group in Civilization. Reflect on life. Net. .