Monday, April 24, 2006

Problem with Capitalism...

The biggest problem with capitalism is that there are people who get left behind and there is no good way to deal with them.

The government certainly does not have the answers - they may think they do, but millions of dollars of red tape later...

And of course, there is the not-for-profit sector, but often the problems they face are out of their control, and it can be difficult to improve things within the "system" of capitalism.
So, I would like to propose an idea for all of the big corporations out there (yes, all of you who read my blog ;) ). I really think that corporations need to take on more social responsibility. Let's take, for example, Nike. Now, I just want to say that I do not want to start a child labour debate... the issue here is that Nike goes into communities and provides jobs... which should impove the quality of life... But, why can't they go one step further and actually undertake community development work? The cost to them would be so marginal, and it would improve their reputation.

One story that we heard in my ORG A 201 class is about how 3M was working on a drug that was supposed to do something for cows, but they discovered in the process that it could help with a major epidemic amongst humans in Africa. After they found that there was no way to profit from the drug (the people who needed it couldn't afford it and there was no government that would subsidize the cost), they just donated it. And, when they found there was need to distribute the drug, they covered those costs, too.

Why can't more companies do that? The 3M story tells me that is is possible...

So, that's my rant, of sorts. Corporations need to pick up the slack on social responsibility.

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