Responsible Capitalism
by Vic Wiens
Certain events in our lives have a way of intensifying our passion to make a difference in the world. My personal conversation in 1999 with a university exchange student from the Ukraine was one of those pivotal events.
After many decades under communism, the Ukraine began its experiment with a free market economy in the 1990s. After almost a decade, this student reported, life had not improved in the Ukraine. Through our lengthy discussion on capitalism in the Ukraine, a light went on for me. It was various forms of "responsible capitalism" that had resulted in the good life in the western world. The Ukraine had not yet learned the "responsible" part of our western free market economy.
The amazing wealth in our western world has been generated through businesses. In turn, non-profit organizations, both directly through their efforts in serving the needs of their communities, and indirectly, through their influence on governments, have helped direct the profits from the free market economy toward meeting human needs. It is this synergy that has created the highest quality of life ever achieved in the world, wherever it is implemented. That is why we are passionate at Vic Wiens Consulting about strengthening both businesses and non-profit organizations.
Responsible capitalism cannot be legislated; it comes from the heart. As non-profit organizations challenge the hearts of people in their communities, a sense of responsibility emerges. Often it is the shortage of finances that motivates the non-profit organizations to broaden their support bases. In this way, the need for sustainable finances motivates non-profit organizations to speak to people’s hearts, resulting in higher levels of responsibility in their communities.
However, funds for all these good causes are ultimately generated by highly profitable businesses. Without the creation of wealth through business pursuits, passion will not produce the envisioned humanitarian results. In fact, socially conscious businesses often solve social problems simply through useful goods and services and through the creation of good jobs and healthy economies in their communities. This is just as valid a form of responsible capitalism as the humanitarian activities of non-profit organizations, and we encourage the integration of suitable social goals as part of the profitable mix of activities businesses engage in.
At Vic Wiens Consulting, we are passionate about guiding non-profit organizations in communicating more effectively to people’s hearts and abut strengthening these organizations to effectively deliver humanitarian results. We are equally passionate about strengthening the businesses which are the source of wealth in our society. As both businesses and non-profit organizations thrive, we all reap the benefits. In doing so, we trust that a greater culture of "responsible capitalism" will make this world a better place.
