RESPONSIBLE CAPITALISM
CLAIRE BISSEKER: Why corporate SA must step up and state its case
'As business and capitalism are made scapegoats, it has become essential for corporate SA to explain how it serves the national interest'
It is the business community’s new buzz phrase: "responsible capitalism". It reflects the realisation by business that it can do more to tackle the big structural challenges that undermine SA’s future. Stung by accusations that it was slow to react to state capture and emasculated itself in its desire to build trust with the Zuma administration, SA’s business leadership is trying hard to improve its image. But it goes far beyond image building. At a time when business and capitalism are being made scapegoats for the economy’s failure to grow, it has become essential for corporate SA to explain how it serves the national interest. Business understands it cannot thrive in a society in which poverty and inequality are on the rise. It also understands it must prove to a population in thrall to populist politicians that the free market is the best way to deliver growth and transformation.There is also the need to step into the vacuum created by a failing state and to play a constructive ...
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