Sustainable Management Futures. Corporate Social Responsibility - Assignment Example

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Name Tutor Date Institution Word Count: 3000 Sustainable Management Futures Question 1.1 Free market economists have demonstrated and documented that free enterprise is the most competent and productive way of providing people’s economic desires. With free market economy, the easy and powerful logic of supply and demand cannot be refuted…
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Download file to see previous pages Even though, they acknowledge its efficiency, they still claim that free enterprise is inherently exploitive or unfair. Although opponents agree that free market is productive, they still argue that it produces the wrong commodities. For instance, they argue that free market produces too much of the luxury goods at the expense of public goods. The opposition to free market is not much of economic considerations as moral. For example, profit comes from the workers, but the workers are only entitled to a small pay. The profit rightfully belongs to workers but end up being denied the right. Although production from the free market can be efficient, the commodities produced do not fit what people desire. The inequalities resulting from the free market depict unethical moral standards. Individuals gain wealth unequally favouring inequality in the distribution of resources, which is morally wrong (Schumpeter, 1994 pp 68). It is in the free market that individuals dictate what people should consume and what they should earn. These considerations represent a moral consideration. These considerations are based on values and goals rather than the real working of an economy. Moral equality supports that no individual should be superior to the other and, therefore, no one can impose his value, desire, and belief on another. Since each person has his to follow his discretion in what he decides to produce or sell, there is no coercion. When there is no coercion, there is no moral wrong; hence, since free market is free from coercion, the market is then ethical. It is only in the free-market that commodities and services are worth what individuals believe they are worth. This makes individuals be willing to pay for a charge that they feel is worth the value of the commodity or service. Moral equality in a free market is emphasized by the equal right of all individuals being free to act without coercion. Involvement of government in a free economy is unnecessary and wrong ethically. When governments are involved in a market economy, there is coercion to doing certain things. For example, people are coerced to pay taxes to sustain inefficient bureaucracies. These violate the rights of individuals. People, who oppose free market and prefer power of government in making things done, impose their views on others, which indicate moral superiority on others. A free economy depicts a free society, where every person can live as per his own values and principles. Since people need to be free without being coerced to act, free market exists as the only market practicing ethics. Capitalism represents a system of interaction, which utilizes money as the medium of exchanging commodities and services (Nelson, 2010 pp 16). The system evolved from barter trade, where individuals traded items in terms of value. Just like a free market, there is no coercion in the trading of products and services. Each person has the discretion of producing or selling what he feels is right for him. What makes capitalism a moral aspect is the presence of fair trade and involvement of voluntary transactions. Capitalism benefits the society through freeing up commerce, creation of wealth, and provides incentives necessary for technological advancements. Socialism usually exists in a parasitic association with capitalism (Mises, 2009 pp 51). It has to rely and work within a monetary system. ...Download file to see next pagesRead More
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