The End of the Free Market, Essay Example

Introduction

The concept of creative capitalism as proposed by Bill Gates is an important step in the discovery of new ideas and approaches to address social entrepreneurship as part of an organization’s larger social and global agenda. This practice requires an acknowledgement of the role of social interaction as part of a larger framework towards social support and interaction to solve problems that impact many people. It is important to encourage large businesses to become increasingly socially aware because they have the resources available to give  back to their communities, as their focus should be exclusively on profits, but also on helping those in need within these areas. Some of the largest corporations throughout the world have begun to address some of these factors and to be responsive to their needs as effectively as possible.

Analysis

Free market capitalism encourages businesses to share a larger focus and to be proactive in their pursuit of profits in a free market, as well as the pursuit of social issues that require resources and knowledge that will have a lasting impact (Bremmer, 2010). These factors play a critical role in supporting an agenda that will examine opportunities to grow and thrive in the wake of global change.

The development of creative capitalism provides an outlet for philanthropists and business owners to take the steps that are required to address critical social problems with significant capital resources and leadership unlike any other (Gates, 2008). Those with the power and resources to perform good deeds throughout society are in a position to 1)give back to others, 2) to be proactive in advancing a positive and meaningful social agenda to guide those in need, and 3) to understand the plight of those who are less fortunate and who may provide a valuable contribution to society when they have access to the necessary resources.

Corporate social responsibility is an important indicator of strength, courage, and awareness of societal circumstances and how social conditions impact individuals over the long term. Walmart is a socially responsible global organization with a primary focus on local communities and have been largely successful in its efforts to aid others, including $1.3 billion in donations to local organizations throughout the world (Walmart, 2014). This level of social responsibility is commendable because the company recognizes the level of inequality and lack of resources in many communities, thereby creating an environment in which there is a significant focus on those who cannot support themselves without assistance (Walmart, 2014).

Similarly, GE Capital (2014) represents itself in local communities with its citizenship efforts to improve outcomes for local residents and to be proactive in meeting the needs of residents who do not have basic necessities. Furthermore, the organization represents schools in at-risk efforts with the intent to improve outcomes for young children and adolescents, and also aims to promote efficiency among communities with which it partners, as these efforts aim to encourage successful results in communities where family and other needs are significant (GE Capital, 2014).

Conclusion

Bill Gates’ approach to creative capitalism within his own foundation and its primary mission is likely to serve as the future of capitalism in some ways because it captures the true spirit of many people who aim to help others who are less fortunate. This practice requires the growth and expansion of programs and other efforts to aid communities, while also considering how large organizations might give back and spread the wealth through knowledge, education, and other learning tools that will be effective in meeting local resident’s needs, one step at a time.

References

Bremmer, I. (2010). The end of the free market: who wins the war between states and corporations?. European View, 9(2), 249-252.

Gates, Bill (2008). Bill Gates – 2008 World Economic Forum – Creative Capitalism. Retrieved from http://www.gatesfoundation.org/media-center/speeches/2008/01/bill-gates-2008-world-economic-forum

GE Capital (2014). Citizenship. Retrieved from http://www.gecapital.com/en/our-company/citizenship.html

Walmart (2014). Giving people access to a better life. One community at a time. Retrieved from http://foundation.walmart.com/