A crisis of Capitalism & Democracy

The basic intent for incorporating Companies is to make money and create wealth & economic well being for the stakeholders. In the process it helps the growth of the country’s economy and creates meaningful employment for the people. Behind the corporate doors it may be termed as incidental to the core corporate mission. However in Democracy it is the fundamental corporate social responsibility to provide growth, employment and economic well being for both the state and the people. Therefore the Government is expected to be a watchdog to monitor & regulate corporate houses.

“Transforming CAPITALISM. Improving the world for everyone” is a book written by Arun Maira. He is a member of the planning commission chaired by the Prime Minister of India. He is a frequent speaker at international forum on the future of India. His widely acclaimed leadership and consulting experience is definitely a source that makes the book interesting and path breaking. The book is refreshingly a light reading notwithstanding the subject matter. The book is a compilation of author’s thought pieces, real time case studies and his articles that keep appearing in The Economic Times. The book overall runs to some 200 odd pages but remain end to end a stimulating and thought provoking knowledge sharing session. The book is divided into four parts but maintains a logical sequence. The one two and three liner quotes at the beginning of each topic gives you an idea on what to expect further down in the pages.

The book talks of Capitalism, without advocating a total laissez-faire environment. It talks of capitalism in a democratic environs and goes ahead to pitch the importance & relevance of Corporate Social Responsibilities. It endorses government regulating the business houses but does not debate on where the line should be drawn to ensure intervention does not turn interference. The book is topical as well current to the global thinking. Here is my interpretation on..“Rethinking the Economy” a topic in the book that talks of evolving a brand new philosophy in the business of governing. The context of course is India. It emphasis on a fact that democracy is not all about election and voting, it is also about providing a platform to resolve the difference of opinion between people and the state. This topic is an an influencer. It reflects the current political & economical upheaval in the country. We can attribute this upheaval to government’s excess generosity in providing a platform to the civil society which has now proved larger than reasonable. It has almost made the government dis functioning…

In the ‘preface’ of the book the author mentions that ‘government has become his life’... Now is that his passing reference or scoring a brownie on his role as a member of the planning commission..? Overall “Transforming Capitalism” is a pleasant reading experience that allows you to take home lot of interesting facts about policy makers, present political environs as well the corporate board room logic s... Greatly readable...

This review is a part of the Book Reviews Program at BlogAdda.com.