Question

How can our capitalistic system be more at the service of all people, especially the poor? please provide examples and if possible provide a scholarly source as a link

Answer 1

Our capitalistic system is built of demand & supply forces. Demand is created mainly by the households and supply is created by the firms and corporate. Developing a common consensus and promoting corporate governance and corporate social responsibility among the firms and corporate, will make this capitalistic system to help more to the marginalized communities or poor. In another way, promotion of stakeholders approach in management practices will bring this positive change. For example, almost all the big MNCs that constitute the majority of our capitalistic system, contribute a portion of their income upon initiatives that help poor people, children w.r.t. their education, health, clean  drinking water and many other initiatives. The one example is of Bill & Melinda Gates foundation, initiated by Bill Gates that channelizes the resources and help needy people. Nike also has its community development program that serves poor people in different part of the world. P&G also spends funds on poor. Further, the promotional programs by these corporate, can also sensitize the consumers to buy those goods whose certain part go for the welfare of people and they respond towards it. It will make a capitalistic system to be more sensitive and cooperative towards poor.