engleski

Metamorphoses of the Crises of Capitalist Accumulation - Threats and Opportunities of the Current Stage

Financial expansions are symptomatic of the type of situations in which the investment of money achieves more effective results through pure financial deals than through trade and production. The penetration of multinational companies and finance on world markets created national economic interdependence, which started the processes of opening the existing institutions and reforms in non-capitalist under-developed countries. Historical experience around the world over the last hundered years, shows that the introduction of capitalism into the Second World and the Third World does not solve the problem of poverty, but rather maintains it, creating new forms of dependence by marginalizing these countries in the global community. Market liberalization and pressures for equalizing wages around the world result in a cutting of the price of labour and lowering or stagnation of the living standards of a large part of the working population. The authors challenge the conventional opinion on the incompatibility of profit and socially responsible behaviour and argue that the organisations which incorporate social audit and accountability in management into their operation improve their profitability. This paper opens up a debate on managing finance in a socially responsible manner and to show that accounting techniques can be used in such a way as to simultaneously support both corporate social responsibility and profit-maximizing behaviour.

Financial expansions; corporate social responsibility; profit-maximizing behavior

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