Socially Responsible Capitalism and Management

As the income gap between the ultra-rich and the other 99% grows, many are questioning whether capitalism has to be so inequitable. Others challenge the viability of capitalism as we know it. This book presents an alternate economic reality, drawn from European economic thought. Specifically it refutes the common belief that the sole purpose of work is profit, which we might call socially irresponsible capitalism. In socially responsible capitalism, work is to serve employees and society as well as owners. This book will be hated by people motivated by greed, and embraced by those who practice servant leadership or rejoice in the economic teaching of Pope Francis. -John Conbere, University of St. Thomas, USA In this time of increasing ecological problems, technological revolution, and change in the workforce, the focus of businesses is shifting from solely being on the profit to how businesses develop their people and contribute to the society. The Millennials are challenging and scrutinizing the common premises of traditional business and management. We need to develop socially responsible organizations that would invest in their people and communities. Socio-economic management helps to grow socially responsible organizations, but also changes a mental model of traditional business and management. Socially responsible organizations by employing socio-economic management can bring together profit-oriented capitalism and care for human beings. -Alla Heorhiadi, University of St. Thomas, USA