Problem
Accountability based solely on profit
Experimental visualization of narrower problems
Other Names:
Unreliability of profit as a social indicatorUnconstrained profit-making priority
Nature:
The overemphasis by the means of production on their profitability so severely narrows the field of productive accountability that it becomes virtually impossible to respond to other production values.
Incidence:
The policies of governments, such as the USA, UK and Germany, in the period leading up to the Gulf War reveal a pattern of decision-making almost entirely influenced by the need to maximize trade by their corporations irrespective of any intelligence information concerning the military ends to which the traded goods would be put. The welfare of national trading corporations was recognized as the highest priority, even though the high tech hardware sold dangerously empowered Iraq.
Broader Problems:
UnreliabilitySocial unaccountabilityInadequacy of economic accounting systemsLack of relationship between social techniques and the needs they address Narrower Problems:
ProfiteeringEconomic bias in developmentShort-term profit maximizationProfit-oriented interest paymentsUnethical profit-making Aggravates:
Production of non-essentialsUnethical commercial practicesUnethical practices of employersDestabilizing corporate expansionCommercialization of medical practiceLack of insurance against infertilityMonopoly of the economy by corporationsCruelty to livestock during transportationUnsustainable corporate profitsLack of social accounting in the business community Strategies:
Auditing environmental parametersExtending producer responsibilityPutting profit in its placeEmphasizing profitEmphasizing profitMaking profitMaking profit Subject(s):
Commerce → FinanceResearch, Standards → Quality unification
Society → Social
Related UN Sustainable Development Goals:
Problem Type:
F: Fuzzy exceptional problems Date of last update
19.03.2020 – 20:10 CET