Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Is charity sufficient in an age of capitalism - Essay Example

Comments (0) Cite this document
This is in line with Friedman’s accusation against corporate social responsibility as a misnomer. By seeing corporate social…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.9% of users find it useful
Is charity sufficient in an age of capitalism
Read TextPreview

Extract of sample "Is charity sufficient in an age of capitalism"

Insert Section A. In the age of capitalism, charity is not sufficient since charity is ancillary to the beneficent’s arbitrariness and is therefore not sustainable. This is in line with Friedman’s accusation against corporate social responsibility as a misnomer. By seeing corporate social responsibility (CSR) as a misnomer, it is meant that while laymen are deluded into thinking that CSR is a channel by which businesses extend value to the surrounding society or community, the fact of the matter is that organizations and businesses are using CSR to perpetuate their own interests. As such, organizations will only venture into CSR as charity and when it suits them, and therefore rendering charity unsustainable.
Section B.
In the article, Friedman’s main idea or central argument is that since CSR has never been defined, it has always been taken for organizational charity. Not only is the noun phrase CSR to vague to instill meaningful obligations on the side of organizations, but the same is also wrongfully through its assumptions assigns organizations the roles of a natural person. An organization cannot decide on its own to engage in CSR, outside the will of its executives, stakeholders and owners. What is at stake here is that organizations are using the vagueness in the definition of CSR to exploit the environment without giving back (Friedman, 3).
Friedman is advancing his argument on the basis of his authority in academics, since he served as an economist, statistician and lecturer. It is obvious that his argument is also informed with personal experience and history from which he had made observations as a scholar and an employee.
Section C.
There European Commission’s insight on CSR seems to contradict Friedman’s perspective, since it sees CSR as a strong catalyst for social development. Nevertheless, despite EU’s insight appearing to be antithetical to my thesis statement, yet it does not sufficiently annihilate my standpoint since the EU has regulations on CSR that organizations and enterprises have to adhere to. This still indirectly supports my statement that CSR is too vague a concept to bring positive change. This vagueness has underpinnings in the fact that CSR is inadequately defined. Because of this inadequate definition, organizations through their executives and stakeholders are left to surmise for themselves, the optionality of engaging in the same, and the extent to which CSR should be pursued. Thus, even an organization which contributes only 200 US dollars to the society can still brag about having participated in charity or CSR. It is not in wonder that the EU government has regulations are imposed on organizations (European Union, 1).
Section D
The thesis is defensible and valid because, throughout the world, it is clear that organizational presence and operations only become positive when the government steps in. If all respectable multinationals [such as SONY, Starbuck and Nike] have at one time grappled with ethical issues in foreign markets, then one can only imagine the manifold pitfalls that would befall communities if organizations are left to interpret for themselves, the extent of their commitment to CSR. If organizations are to make meaningful contributions to the presently capitalist society, then CSR should be adequately defined to divorce it from charity.
Works Cited
European Union. “Enterprise and Industry: Corporate Social responsibility.” European Union. Retrieved on, February 19, 2014, from: Electronic
Friedman, Milton. “The Social Responsibility of Business is to Increase Its Profits.” The New York Times Magazine, September 13, 1970. Read More
Cite this document
  • APA
  • MLA
(“Is charity sufficient in an age of capitalism Essay”, n.d.)
Is charity sufficient in an age of capitalism Essay. Retrieved from
(Is Charity Sufficient in an Age of Capitalism Essay)
Is Charity Sufficient in an Age of Capitalism Essay.
“Is Charity Sufficient in an Age of Capitalism Essay”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Is charity sufficient in an age of capitalism


... Capitalism The United s plunged into an economic crisis in 2008 and 2009. This situation escalated, and it became an irresistible opportunity for the United States to pronounce the failure of the type of capitalism that had emerged towards the end of the twentieth century. The French President, Nicolas Sarkozy once said, “One had expected competition and abundance for everyone, but instead one got scarcity, the triumph of profit-oriented thinking, speculation and dumping." According to Sarkozy, the then economic crisis had signaled the return of the state and brought an end to public impotence illusions. Notably, economists regard the state of capitalism as one in which the governments are limited in controlling markets and posing...
3 Pages(750 words)Essay

Activlives Charity

.... Integration marketing communication analysis of ActivLives charity Usually charities use both B2B and B2C communications to collect donations from corporate sector and public respectively. Emotional marketing is used to get the sympathy of donors and the use of value propositions is largely ignored in this sector (IDM, n.d.). The company has partnered with popular personalities such as the former footballer Roger Osborne to promote its brand and collect funds. Events such as the first birthday of the Community Garden promoted the ActivSinging project of the company (, n.d.). 3. Marketing segmentation of ActivLives charity ActivLives charity has segmented its market on the basis of geography as well as age. It targets...
4 Pages(1000 words)Essay

Golden Age of Capitalism

...ESSAY The "Golden Age of Capitalism" was a period in world history that was characterized by immense growth in economic prosperity and a period when nations such as the United States, Britain, New Zealand among others experienced a level of political and economic stability. This period gave rise to countries realizing their full potential as far as international commerce was concerned and brought about specialization where each country concentrated on what it could best produce in order to compete with other markets. This was a time when commerce was being revolutionized with the emergence of new technologies in transport and communication which facilitated the international markets. Railroads and steamships were used...
3 Pages(750 words)Essay


Protection of private property was never so legally simplified before the advent of capitalism and the legal implications of private ownership suggested greater independence of private property owners and provided clear protected ownership that could be legally validated. Capitalism brought in the standardization and integration of property rules, increased trust in economic transactions and laid down the risks of ownership with possibilities of insurance against such risks. Loans and borrowing became easier as personal credit history could be checked and there was an increased standardization and transferability of statements documenting ownership of property (Levi-Faur et al, 2005). This specification of property limits and rul...
8 Pages(2000 words)Essay


...The industrial revolution marked the era when humanity began to mass produce goods. This important era in business history occurred due to the influence of capitalism. “The factory system implemented during the industrialization allowed for work to be done at a much more efficient rate than before, and it wasnt long before the factory system was put into effect in the other industries” (McKinney, 2008). Capitalism enabled many entrepreneurs to build factories that generated thousands for jobs. The steam engine was one of the major innovations of the era. Karl Max was a revolutionist during the industrial revolution. He was a socialist that had very peculiar views about capitalism. According to Karl Max capitalism is based on his version...
1 Pages(250 words)Essay


Various companies reduced their labour force while others fully shut down leading to massive loss of employment.
The economic depression led to loss of business and closing down of many businesses, which led to decline in tax revenues. Many organizations and individuals were also unable to pay their taxes, which made things worse. Prices of goods and services also declined, and profits not witnessed. Crop production fell with most farms affected by drought, which saw the fall in crop prices. The hardships witnessed and non-remittance of taxes forced people out of their homes creating a situation of homelessness. Situation of unemployment and homelessness seriously affected the poor in the society.
The economic activities i...
6 Pages(1500 words)Assignment


...Capitalism Introduction The invention of capitalism started in the middle ages in Western Europe. Netherlands became thefirst capitalist country. Capitalism involves trading, technology and resources like land. Trader’s invention led to insurance and introduction of retirement funds. Accumulation of capital in the past years was through scale variety, different methods and wealth concentration (Pyke, 2011). Socialists condemn and reject the development of capitalisms. Adams Smith, who was a Scottish philosopher, introduced this new model of reality because of a number of reasons. Why Adam Smith created whole new model of reality and his similarity to Newton The fourteen century crisis leads to emergence of modern capitalism. Land...
1 Pages(250 words)Essay


... Capitalism Capitalism refers to a social and political system whereby production and distribution of goods is owned by asmall fraction of the society, who are known as the capitalist class, and the other group referred to as the working class must work in order to get a means of livelihood (World Socialist Movement). In this form of government, the working class is under the control of the capitalist class as they are supposed to work and produce goods which will be sold by the capitalist class at a profit (Knight). This means that the rich will accrue wealth by exploiting the majority population, and they will achieve this by encouraging people to work in order to get money to earn a livelihood. The present day Dubai is capitalist...
2 Pages(500 words)Essay

Charity Giving

Any person with high values and cultural values will provide high donation as per his or her financial status. Some may do charity for the help of the society by giving blood and donating the body organs in order to help others. This is done by the people due to their own moral values. The regularity of charity whether financial or in other forms depends largely on the person and his or her values in life. None of the charitable organisations can influence them as they are guided by their own ideas and views. A few people refer charitable giving as a personal value which is incorporated in the individual from the beginning of his/her life by the parents. The importance of finance and the gesture to help others in need are the valu...
6 Pages(1500 words)Essay


...Capitalism Place In the modern expressions of relation between the citizen and the government, much are talking about the relations between the free men and the free society, which can be provided by the government in the face of patron and view and where free men which should serve the country with its collection of individuals who compose it (Friedman, 2009). In this context capitalism is considered as the necessary condition for political freedom, but it is more a notion that provides some check to the centralized power of the country. Scott (2011) states that capitalism is more about the interact system that manages economic relationshipsbased on the principle of individual rights. In the political context, capitalism is the system...
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Is charity sufficient in an age of capitalism for FREE!

Contact Us