Avoiding the Evil of Consumerism (Part 1-3)
There has been much criticism levelled against capitalists and business people who have exaggerated the virtues of free market capitalism. At least the last three Popes have exposed the very pernicious results of a system which gave free rein to market competition and the maximization of profit by business enterprises In fact, Pope Francis has even gone to the extent of saying that untrammelled free market capitalism can kill, that it can lead to great inequity in the distribution of income and wealth within a country and between countries. Business people are being advised to balance their desire for profit with other objectives such as environmental sustainability and a more humane existence for workers and farmers. There are now fortunately more people in business who are seriously balancing the three P’s: People, Planet and Profit. In our country, many more large and medium-sized business firms are practising what is known as Corporate Social Responsibility. Especially among the millennials, there is a noticeable trend towards the creation of what are known as social enterprises, businesses which are for profit (to assure sustainability over the long run) but the main purpose of which is make a contribution to solving a social problem or to contribute to the common good, like eradicating poverty, protecting the environment or to promote some desirable human or spiritual values.