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Global CEO Magazine:
Trusteeship : The foundation for capitalism
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The article attempts to highlight the issues of capitalism, socialism and communism and brings forth an argument of how trusteeship is the basis and foundation for capitalism and the global movement as it exists today. Trusteeship is not a theory, it is a way of working. In the contemporary age, it is also reflected in corporate social responsibility or as per the Companies Act 1956, which suggests that a director act as a trustee. Trusteeship has also been a way of some capitalists. Trusteeship may have many meanings and connotations; it can also be perceived as a non-profit approach, but it is not necessarily so. When we see it as an alternative or foundation for capitalism, we mean the soul behind the method. Trusteeship essentially means to act and to take decisions without a sense of ownership or absolute right to possession. The ills of capitalism appear when they impede democracy; capitalism in its ideal form is when the owners look upon the company as a trust.

Capitalism is not bad nor is the capitalist evil; it is the foundation and the behavior of the capitalists which impact the society, and people are led to think of it as evil or otherwise. Capitalism in its strict sense merely means private ownership or free enterprise. It is defined as a system in which the capital is owned either by individuals or corporations. "Capitalism is a social system based on the recognition of individual rights including property rights, in which all property is privately owned."

Individual rights signify the social recognition of a man's rational nature, where he uses his `sense of reason' for `survival'. Due to this basic nature of the system, the activities revolve around accumulation and/or reinvestment of profits. The attractive feature of capitalism is the private ownership of means of production. The policy makers are constantly analyzing the issues involved in the increase of production and development.

 
 
 

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