Corporate responsibility questioned in pursuit of profit from "summary" of The New Industrial State by John Kenneth Galbraith
In the modern industrial system, the ultimate goal of corporations is to maximize profit. This pursuit of profit often leads to a questioning of corporate responsibility towards society. It is believed that corporations prioritize profit over social welfare, which can have detrimental consequences for the community at large. Corporate responsibility is a concept that suggests businesses have an obligation to act in the best interest of society. However, in the pursuit of profit, this responsibility is often called into question. The focus on increasing shareholder value can sometimes overshadow the need to consider the impact of business decisions on the environment, employees, and the community. In the industrial state,...
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