Capitalization of Morality in the Activities of Modern Corporations: Opportunity or Necessity

Abstract

Modernity has presented a new challenge to capitalism, the answer to which may be the emergence of ‘moral capital’. Since the end of the 20th century, corporations have become convinced of the importance of a strong ideology and the need for developed meaningful corporate ethics based on values understood and accepted by all members of the company. The exaggerated importance of personal gain in Western philosophy since the time of Adam Smith and Jeremy Bentham has led to the formation of an ‘economic man’ who views the world around him through the prism of individual material interest. The life credo of such a person is “I feel good, so everyone feels good.” has become a real threat to society, making it impossible for adequate forms of collectives to exist. In this article we study large corporations as they are the most visible as representatives of modern capitalist society. An analysis of the activities of corporations and their reactions to crises has shown that companies that have managed to survive a critical situation, as a rule, make changes to corporate ethics 2-3 years later, having undergone some reflection. The competitive environment, the requirements of society, the state and international organizations contribute to the manifestation of greater social responsibility to comprehend and fix these changes. All types of capitalism, as Max Weber saw them: ‘predatory’, ‘adventurous’ and ‘rational’ simultaneously coexist in the present time. Time will tell whether capitalism is able to transform into its more moral form or whether we observe the emergence of a new social order. If multinational corporations manage to overcome their natural thirst for profit and transform it into a desire to ‘bring the greatest happiness to the greatest number of people’, expanding this ‘greatest number’ to a planetary scale, the answer will be positive. The way some of these companies are overcoming their own crises is encouraging. The time of change is wonderful because everyone can contribute to the current changes by acting in accordance with human standards of morality.