In a world that is continually faced with the rise of companies and avenues of profit-making, the need for social and environmental responsibility cannot be undermined. Such responsibility cuts across companies, individuals and businesses making deliberate efforts to positively contribute to the overall good of the public. It’s the act of getting rid of false, fraudulent, and harmful practices to ensure the betterment of society. If we are to summarize such socially inspired and patriotic acts, it comes under the umbrella of social capitalism. Having said that, it’s no news that social capitalism is important in today’s world. The question is how important is it?. In answer to this, this article discusses the importance of social capitalism today.
What Is Social Capitalism?
Social capitalism can best be termed as a socially focused type of capitalism. In other words, it is the typical capitalism which is primarily anchored on better social results or at the very least, economic social responsibility. In line with the above, social capitalism is solely aimed at improving social limitations and hurdles instead of accruing capital and profits as can be seen in the traditional capitalist scenario. It seeks to solve complications caused by traditional capitalism especially inequity. Having established that let’s look at how important this form of capitalism is.
Importance In Today’s World.
As established above, social capitalism focuses on channeling profit to the public purse to be used for the betterment of the masses. It is founded on the pillars of equality, liberty, and justice. Its presence and flow in today’s world are essential for righting the wrongs previously done against the happiness of many in the society. With such a goal or basis for existence, it is safe to say that social capitalism is of supreme value today and does not flaunt any ethical or moral norms.
That being said; to further promote our point let’s take a quick look at some acts of social capitalism;
1) Placing the value of individuals above the amount of income they can pull into a company. This, therefore, results in a culture of happy people who are more determined or fueled to meet their goals.
2) Non-profit institutions or companies making efforts towards solving social or environmental concerns while also channeling profit to be used for the betterment of the public.
3) Actively disseminating information about fraudulent and unethical companies in order to discourage the public from transacting with them.
4) Getting rid of short term plans that lead to exploitation and exploring long term plans that promote growth, investment and sustainable prosperity.
These among several other acts that depicts what constitutes social responsibility and these are just what we are pushing for at give away tickets.
On a final note, social capitalism in today’s world is a valued tool for rectifying social issues and leaving the masses satisfied. It curbs fraudulent practices and ensures the harmonious growth of everyone irrespective of class or gender.