IS CAPITALISM BECOMING UNETHICAL?
Many observers have been concerned that we in the US are losing our middle class, as the rich become richer and the poor become poorer. The December issue of the Atlantic magazine underscores a cause for this movement by chronicling the divorce of business from the common good of society. In the not so distant past, businesses made significant and responsible contributions to local causes. Author Freeland records how in the 50's and 60's business leaders were also leaders in the community because they felt a responsibility to their town or city. They went well beyond their 'bottom line'.
Yet, in this current climate of cuttroat competion, many CEO's aren't troubled ethically for treating their employees poorly by granting low wages with little or no health benefits.
Fortunately, a renewal movement is coming on the scene, sustainable capitalism, which has as its approach an inclusive social responsibility that benefits the broader society. The fact is that many companies who behave in this manner do experience greater profits in the long haul.
Author Chrystia Freeland uses a twist on St. Augustine in her conclusion: "Lord, make me good, but make my competitors and my investors good, too".
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