CRISIS IN CAPITALISM LEADS TO A CRISIS IN DEMOCRACY, OPINES SHRI ARUN MAIRA

 

A crisis has hit Capitalism, and its adverse effect leads to a crisis in Democracy, opined Shri Arun Maira, Former Member, Planning Commission & Former Chairman, Boston Consulting Group while participating in the Second Purpose Roundtable conducted by the Centre for Higher Purpose in Business. Elaborating on the Corporations’ role in the new world, Shri Arun Maira said, “Business corporations have created a system where the institution’s sole purpose is to give maximum profit for its investors. Owing to the limited liability, the investors’ liability is only to the capital that one had invested. They are not liable to the adverse effect the business is having on society. This selfish nature of business is now corrupting democracy, wherein the Corporations have become more equal citizens of society than others”.