The Times of Zambia (Ndola)
6 December 2007
Over the past few years, one of the most over-used terms by the corporate world has been corporate social responsibility. It has blossomed as an idea, if not as a coherent practical programme.
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Milton Friedman was absolutely 'spot on'! Provide a climate where corporations can compete, flourish and fail on their own merit and Adam Smith's "invisible hand" will produce 'miracles'. It's demonstrable. It works. The world has never experienced the degree of prosperity that for some just somehow 'exists'.
The invisible hand is at work in the free market to the extent we trust it's operation. It's antithesis is a 'planned', visible hand, invested in good intentions. Greed may characterize successful corporations but it's not what made them successful. "The bigger they are the harder they fall" serves as a constant reminder to corporations to stay focused on what they do best. Today's top 500 are not the same as 1907's (assuming there were 500).
I fear Corporate Guilt more than Corporate Greed.
Stuart MacLean Portland, Oregon