Question

Critics of capitalism and Corporate America increasingly argue that corporations should follow socially responsible standards higher than that imposed by law. True False

Answer 1

The statement is: True.

Step-by-step explanation:

Capitalism is the characteristic of an economy ruled by private ownership. Critics of capitalism are mainly socialists or communists who believe resources should be allocated evenly among the inhabitants of a country. These individuals are likely to rigidly defend social responsibility for the malpractice of capitalists.

Socialists and communists would get to the point of chasing private investors to prioritize their social duties instead of the investors' interests even if that means requesting the government to pass more stiff laws.

Answer 2

The statement is true. Critics of capitalism and Corporate America increasingly argue that corporations should follow socially responsible standards higher than that imposed by law.

Step-by-step explanation:

The critique of capitalism refers to views and theories that criticize the economic order that spreads with industrialization, which is based on private property, market economy, capital accumulation, dependent wage labor and the individual pursuit of profit, either in principle or in individual aspects.

Hardly different from capitalism itself, the history of criticism of capitalism dates back to the 19th century. The criticism is expressed in individual elements of capitalism such as money and interest management, private ownership of means of production and maximization of profit as well as the consequences attributed to them such as exploitation and impoverishment of the working class.

Therefore, the criticism of capitalism starts from that lack of social tact that says that capitalism has, leaving many sectors of society at a disadvantage compared to other more benefited sectors.