As the 2024 election approaches, voters are presented with a critical decision: which economic policies will best serve our country in the years to come? My recent experience studying corporate social responsibility (CSR) in Milan, Italy, under the guidance of Professor Gupta, has provided me with a unique perspective on this matter - one that I believe is vital for all voters to consider, especially those with a liberal viewpoint.
My journey began with a lack of trust in corporations and their intentions. Like many of my peers, I believed that companies often prioritize profits over people and that they rarely do enough to give back to the communities that support them. This skepticism was not without reason. The vast wealth accumulated by large corporations often seems to benefit a select few while leaving the broader community to fend for itself. However, during our course, I gained new insights into the complex nature of corporate ethics and the role of businesses in society. Through daily readings from the Wall Street Journal and weekly analysis of corporate scandals, I saw the tightrope that companies walk between shareholder obligations and societal expectations. The economic landscape has evolved significantly since Adam Smith's time in the 18th century when capitalism was a fledgling idea. Today, we live in a world dominated by corporate giants with vast resources and influence, making the need for CSR even more pressing.
One of the key takeaways from our course was the realization that while businesses are primarily driven by the pursuit of profit, they also have a moral obligation to contribute positively to society. This is where government regulation becomes crucial. A liberal perspective, one that advocates for fairness, equality, and the well-being of all citizens, supports the notion that government intervention is necessary to ensure that corporations do not solely focus on their bottom lines but also consider their impact on society.
The current political climate reflects a stark divide on how we view the role of government in regulating business practices. On one hand, we have voices calling for minimal regulation, arguing businesses thrive best when left to operate freely in a competitive market. On the other, there is a call for more oversight and accountability, ensuring that the vast power wielded by corporations is not misused but rather directed toward creating a more equitable society. As we approach the upcoming election, it is essential for voters to consider the lessons learned from corporate social responsibility. A vote for less regulation could potentially mean a continuation of the status quo, where companies are free to prioritize profits without necessarily considering the broader social and environmental impacts of their actions. Conversely, a vote for increased regulation is a vote for a more balanced approach - one that recognizes the importance of business to our economy but also insists on ethical behavior and accountability. The debate over corporate social responsibility is not just an academic exercise; it is a pressing issue that affects every aspect of our lives, from the air we breathe to the integrity of the democratic process itself. Corporations have a duty not only to their shareholders but also to their employees, their communities, and the planet. As such, they should be held to standards that reflect these responsibilities.
This and more will be made possible with the efforts of our new E-board: Rolando Mendez (Vice President), William Geiger (Treasurer), Livi Mielke (Editor-in-Chief), Adil Alybaev (Marketing Director), Carisa Fogt (Technology Director), and Alec Eskin (Multi-Media Director). In addition to my team, Professor Manzo, the Accounting Club Advisor for the past fourteen years, will provide us the expertise needed to truly make the club flourish.
In conclusion, as we prepare to cast our ballots, let us remember the importance of corporate social responsibility. Let us vote for policies and leaders who understand that businesses must do more than just make money - they must also make a difference. After all, a just society is not built on profits alone but on the well-being of all its citizens. The upcoming election is an opportunity to ensure that our economic policies reflect our values. Let us vote for a future where corporations are held accountable, where the government plays an active role in safeguarding the public good, and where we strive for a more equitable and sustainable world.
