Capitalism And Ethics Of Our Society

1541 WordsApr 3, 20177 Pages
Capitalism and ethics in our society. Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society (Sarwat Jahan and Ahmed Saber Mahmud, 2015). Capitalism has been around since early merchants from all over were conducting trade with each other. Although these merchants were mainly working for themselves or with a partner or small group, they were still focused on making money and getting rich. The indispensable feature of capitalism is the drive to make a profit. Both parties to a willingly exchange transaction have their own interest in the aftermath, but neither…show more content…
Corporate social responsibility related to the environment, charities, and employee satisfaction is done not just to enhance the corporation’s reputation and increase profit, but because they feel it is ethical to do so. Capitalism has given companies the opportunity to make such great profit that they can put it back into environmental initiatives. Environmentalism and the pursuit for greener activities is a high priority for the public (Farber, Daniel, 2012), and corporations seem to want to give the public what they want. It has become much more widely known about the effects that corporations’ activities have on the environment. For example, Kleenex was under fire for their clear-cutting practices, which was thought to devastate Canada’s ancient forests and destroy fragile ecosystems (The Canadian Press, Sep 3, 2008). Many other corporations have been exposed for their environmentally unfriendly practices. Corporations appear to want to clean up their action and use money from profits to make a difference in the environment. Starbucks, a company that sells millions of cups of coffee every day in single-use, paper cups, has a section on its website dedicated to social responsibility and environmental sustainability. They emphasize that they are “finding ways to minimize our environmental footprint, tackle climate change, and inspire others to do the same”
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