Critics of capitalism and Corporate America increasingly argue that corporations should follow socially responsible standards higher than that imposed by law. True False

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Precious Olson

Business

19 March, 05:56

Critics of capitalism and Corporate America increasingly argue that corporations should follow socially responsible standards higher than that imposed by law. True False

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Romeo Zuniga · Answer 1

The statement is true. Critics of capitalism and Corporate America increasingly argue that corporations should follow socially responsible standards higher than that imposed by law.

Explanation:

The critique of capitalism refers to views and theories that criticize the economic order that spreads with industrialization, which is based on private property, market economy, capital accumulation, dependent wage labor and the individual pursuit of profit, either in principle or in individual aspects.

Hardly different from capitalism itself, the history of criticism of capitalism dates back to the 19th century. The criticism is expressed in individual elements of capitalism such as money and interest management, private ownership of means of production and maximization of profit as well as the consequences attributed to them such as exploitation and impoverishment of the working class.

Therefore, the criticism of capitalism starts from that lack of social tact that says that capitalism has, leaving many sectors of society at a disadvantage compared to other more benefited sectors.