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The past century has seen the rise of a corporate version of hyperindividualism -- it has become universally accepted that the sole purpose of a company is to maximize profits within the boundaries of what's legal, taking all shortcuts necessary
I think we're going to see the reverse cultural shift in the next 50 years, towards corporate responsibility -- it will become self-evident that companies need to be beneficial to society, and not create negative externalities, in order to earn the right to exist
Looking forward to large companies having Chief Ethics Officers
Sounds good but I don't think humans have 50 years left on the planet at the current rate of human impact on the environment.
But isnt that what we call non-profits ? Will there exist business models that are only beneficial to societies without any negative impact ?
This is a great outcome to hope for, but what mechanism will make it happen?
This might be your most beautiful tweet so far. Could you share with us what have you seen that made you think this was possible/likely? All I see is in the opposite direction, w/ the exception of self-regulation to keep regulation under control. I want to believe. Please help
I don’t see how that happens without pitchforks
Have you heard of @MichaelEPorter’s “creating shared value” concept on redefining capitalism and the role of corporations in society? https://hbr.org/2011/01/the-big-idea-creating-shared-value …
People in poverty dont consider things like company ethics. It boils down to who can offer the lowest price for their goods and services. Which usually goes hand in hand with unethical practices.
Negative externalities? before govs can make corporations accountable, we need: - a philosophy defining NegEx (how many degrees removed do you hold a source responsible? for example), - principles of measurement, - accounting and public reporting practices to make them explicit
Here here!
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