Home
/
RELIGION & LIBERTY ONLINE
/
Corporations: moral, immoral, or amoral?
Corporations: moral, immoral, or amoral?
Sep 19, 2024 6:37 PM

Is the free market moral? To hear its opponents describe it, the free market is an unethical system that exploits workers, consumers and the environment to make a quick buck. To critics such as Marx, capitalism leaves “no other bond between man and man than naked self-interest,” replacing human connections with cost-benefit analyses and supply-and-demand charts.

Despite its detractors, capitalism is a system that allows for the continued growth of wealth across the globe, and to quote Jonah Goldberg of the National Review, “the best anti-poverty program ever conceived.” If one considers lifting the poor out of poverty as moral, he or she may begin to see the free market as a “moral” system after all.

Despite its material benefits to the global society, the free market in and of itself is not a moral actor. Rather, the market reflects the moral choices of consumers and producers.

The free market, simply put, is a system based on peting desires of consumers who want to use their wealth as efficiently as they can. It prised of workers who want to make the most money they can and providers who want to make the largest profit they can. Each of peting desires, like the three branches of the American government, works to offset the power of the other two. In the correct circumstances, which usually involve the state getting out of the way, this system provides for the wages and products necessary for individual and family life, as well as the capital necessary for the continued growth of business and global wealth.

Such a system is neither a panacea nor a treacherous system of exploitation in and of itself, but rather a trio peting self-interests. Even so, it is not exactly amoral, either. In a free market system, consumers have the ability to choose with whom they wish to do business, and these decisions are usually not solely based on an economic determinism of finding the best deal. Meanwhile, employees, executives and stockholders e to the table with their own scruples regarding pany’s use of capital. In short, corporations are not moral actors, but the decisions of those involved with them determine their morality.

Because of panies in the free market are mirrors of the morality and opinions of both their clientele and their decision-makers. Take, for instance, Walmart, the ubiquitous symbol of corporate efficiency. According to an article by The Wall Street Journal, Walmart has undertaken several morally-motivated actions, such as ending the sale of Confederate-themed merchandise and opposing a bill that would allow religious belief-based discrimination against LGBT customers, as a deliberate part of their CEO Doug McMillon’s plan to make Walmart the world’s “most trusted retailer.” In other words, Walmart has taken a stand on these issues not due to something inherent within pany, but rather due to bination of its CEO’s beliefs and an attempt to garner support from like-minded consumers.

Walmart’s market-based moralizing is not an outlier. Who hasn’t seen “fair trade” products advertised in their local coffee shop, or donations to a particular charity taken from the price of a good? Corporations make these decisions based on the whims of their executives, stockholders or customers, not because of an inherent sense of duty to do the right thing. In other panies seek to plish what their stakeholders see as “good,” whatever that may be.

Companies parrot the opinions of the people involved in them, and this is an ever-present reminder that the market is not by itself a wholly sufficient solution to society’s problems. Companies are not, in and of themselves, moral actors; your local fast-food franchise will not be espousing political opinions or performing philanthropy without a push from customers or decision-makers within pany.

To return to the question: Is the free market moral? The answer plicated. Corporations are the greatest mechanism for economic growth, but at their worst they also have the potential to be a severely damaging influence on society. For this reason, both decision-makers and customers have an obligation to guide the decisions of corporations. When enough customers disavow themselves from pany, it must change whatever it has done that customers find morally unacceptable, or pay an economic price. Likewise, executives and stockholders guide corporations towards doing good when their decisions have a ponent as well as fiscal. Properly understood, corporations are extraordinary tools for the growth of prosperity worldwide, but like all tools, people must make the right decisions on how to use them.

Prieur – CC-BY-SA)

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
Getting Beyond Right-Wing and Left-Wing
The stark polarization that marks our politics may be more a misclassification of certain positions. A little history lesson is in order. Read More… Back in the 1970s, Sixty Minutes had a regular feature called Point/Counterpoint, which came at the end of every show. Each week there would be a different topic. Journalist Shana Alexander would present a standard-issue “liberal” version of the argument while James J. Kilpatrick assumed the “conservative” side. Although the sparring partners sniped at one another,...
John Newton: From Slave Trader to Abolitionist Pastor
The story of John Newton’s conversion is legendary. His hymns, like “Amazing Grace,” perennial favorites. His pastor’s heart, exemplary. His fight for an abolition of the slave trade, monumental. But none of this came quickly or easily. Read More… John Newton (1725–1807) is a pivotal figure in the English evangelical revival or awakening. His is an early example of a settled evangelical ministry in the second half of the 18th century, involving pastoral work, hymn-writing, and even mentoring the likes...
Willmoore Kendall and the Meaning of American Conservatism
Less well-known than Kirk and Buckley, the pugnacious and discerning Kendall is nevertheless a voice that needs to be revived in the present fractious moment. Read More… In our moment, the nature and meaning of conservatism is disputed, sometimes hotly, and it’s unsurprising to observe participants turn to history for wisdom or support. Either in praise or vilification, current schools frequently mention John Courtney Murray, Russell Kirk, Frank Meyer, Irving Kristol, and William F. Buckley (obviously), among others. The appropriation...
Claudia Goldin Is the Ideal Academic Researcher
The latest recipient of the Nobel Memorial Prize in Economic Sciences has contributed much useful data in understanding the role of women in the workforce. Her restraint in policy prescriptions may, in fact, be her greatest contribution of all. Read More… Harvard’s Claudia Goldin is our newest Nobel laureate in economics. Her accumulated efforts have helped us better understand women’s roles in the labor market—both historically and in contemporary society. It’s worth noting that the economics prize isn’t one of...
How Did George Orwell Know?
For those trapped behind the Iron Curtain, Orwell’s Nineteen Eighty-Four seemed more a documentary than a work of dystopian fiction. How did a man who had never traveled munist Russia get so much so right? Read More… The collocation in the title captures the thoroughgoing exploration of the topic in a phrase: George Orwell and Russia. Masha Karp is not the first to ponder George Orwell’s relationship to Stalinist Russia—and the relationship of both Stalinist and munist Russia to Orwell—but...
No, Chicago, We Don’t Need Government-Run Grocery Stores
After Walmart shuttered locations due to rising crime, the mayor of Chicago decided the answer was to … open their own grocery stores. What could go wrong? Read More… The city of Chicago is plagued by waves of violence, looting, and plunder dating back to 2020, which was deemed “the summer of looting” by the Chicago Tribune, spurred by the murder of George Floyd while in police custody amid COVID lockdowns. That summer, the Chicago police superintendent called for longer...
The Strange Death of DEI
More Americans than you think support training in diversity, equity, and inclusion. And why are more and more corporations looking beyond it? Read More… Once considered the highest rising feature of America’s business spaces, the cliffs of corporate diversity, equity, and inclusion (DEI) are slowly eroding under the reliable and unrelenting tide of American apathy. Fewer and fewer businesses are seeking to hire a chief diversity officer, and those who manage to get hired are finding their jobs often paired...
Tom Wolfe and the Strangeness of America
A new documentary about the parable novelist and social critic demonstrates, however unintentionally, why we’ll probably never see the likes of Wolfe again. Read More… Conservatism doesn’t really produce or nurture writers nowadays. The notable exception in the past couple of generations is Tom Wolfe, who died in 2018. Wolfe was universally beloved. He sold millions of copies of his various writings. Wolfe had a distinctive Southern-gentleman plete with “trademark white suit and vest, a high-necked blue-and-white-striped plemented by a...
Is Neoliberalism Dead?
The Chilean Miracle of the 1990s is usually pointed to as a win for the Chicago School of economics, which advocated laissez faire capitalism, limited regulation, and cuts in government spending. But that was then, and this is the era of Bidenomics and a “post-liberal” New Right. Are free markets as dead as General Pinochet? Read More… Louis Menand wrote a curious article for the New Yorker called “The Rise and Fall of Neoliberalism.” The article is curious on two...
Laudate Deum: Or, Is the Catholic Church Just Another NGO?
Is there a way to balance economic growth and sound environmental stewardship? If only Pope Francis would take his own advice. Read More… If there is anything we have learned about Pope mentaries on issues ranging from economics to the environment, it is that they invariably add up to a by-now predictable mixture. Parts of this mélange consist of often profound insights and wisdom. But it also reflects straw man arguments, the random assembling of pieces of data plucked out...
Related Classification
Copyright 2023-2024 - www.mreligion.com All Rights Reserved