The culture of profit characterizes our era, affecting all aspects of social and economic life. In modern societies, the pursuit of profit has become the primary goal for businesses and many individuals. This approach causes significant changes in values, priorities, and behaviours, with both positive and negative consequences.
On the positive side, profit-seeking can drive progress and innovation. The need for economic growth and competitiveness pushes businesses to improve products and services, develop new technologies, and invest in research and development. This results in improved quality of life, job creation, and increased prosperity.
However, the dominance of the profit culture has negative aspects. Excessive emphasis on economic success can lead to disregard for ethical values, social responsibilities, and environmental impacts. Some businesses, in their effort to maximize profits, resort to unfair practices, such as exploiting workers, polluting the environment, and violating human rights. These practices not only harm society but also undermine the sustainability of businesses in the long run.
Furthermore, the culture of profit affects human relationships and personal happiness. Overemphasis on economic gain can lead to alienation, stress, and lack of meaning in life. People focused solely on economic success may neglect other important aspects of their lives, such as family, friends, and personal development. Ancient wisdom reminds us of the value of moderation: "Μέτρον άριστον" (moderation is best).
The culture of profit, as applied since the rise of rationalism, has proven destructive for societies that adopt it. The rationalistic approach, centred on rationality and absolute logic, has drained all humanity from social and economic structures. Human relationships, solidarity, and emotional well-being are often sacrificed on the altar of efficiency and profit. Sociologist Max Weber analysed this trend as the "disenchantment" of the world, where values and moral traditions retreat before bureaucratic and rational thought.
To address the negative consequences of the culture of profit, it is necessary to redefine our values and integrate ethics and social responsibility into business practices and daily life. Businesses must adopt a sustainable development model that considers social and environmental well-being alongside economic profit. Michael E. Porter and Mark R. Kramer in the Harvard Business Review argue that businesses can create shared value by integrating social responsibility into their strategy. Consumers, on their part, can support responsible businesses and demand transparency and accountability.
The culture of profit is not inherently negative, but its excess can cause serious problems. By incorporating values of ethics, social responsibility, and sustainability, we can create a balanced and fair society where profit and prosperity go hand in hand.
References:
- Plato, "Republic", Book I.
- Aristotle, "Nicomachean Ethics".
- Weber, Max. "The Protestant Ethic and the Spirit of Capitalism".
- Harvard Business Review, "Creating Shared Value" by Michael E. Porter and Mark R. Kramer.
- World Economic Forum, "The Future of the Corporation".
- European Union, "Directive on Corporate Social Responsibility".