Socially responsible capitalism

Abstract

Purpose

The objective of this paper is to raise questions and contribute to discourse around the topic of socially responsible capitalism with specific reference to the need for a considered approach between the necessity to foster an entrepreneurial risk taking environment to create a vibrant economy and the need for a balanced yet rigorous regulatory environment. The paper specifically addresses the pro‐active role that academia should be encouraged to play in advising government and stake holders as to how to achieve the optimum position.

Design/methodology/approach

The address juxtaposed personal insights and observations drawn from many years as an international businessman with my analysis of the events of the past 75 years (from the great depression to the current credit crises) together with legislation such as, The Glass Steagall Act 1933; The Securities Act 1933; The securities Exchange act 1934; The Fair Labor Standards Act 1938 and The US Foreign Corrupt Practices Act 1997.

Findings

A 30‐minute question and answer session followed the address and allowed for extensive discussion and feedback from the audience. Certain members of the audience continued this discussion and feedback via email.

Originality/value

The Q&A evidenced that the address was considered a catalyst for possible new directions with regard to the topic and presented original ideas within the context of the objectives outlined above.

Citation

Sweetbaum, H. (2008), "Socially responsible capitalism", Society and Business Review, Vol. 3 No. 3, pp. 186-190. https://doi.org/10.1108/17465680810907279