Criticism of Business
There is no doubt that modern business has raised material standard of living of the people but it has also created discontentment in the economic and social system. The main criticisms directed towards business are as under Criticism of Business
1. Environmental Pollution:
Business of today is generally guilty of polluting air, water and surrounding
areas which directly affects the health of the people
2. Ignorance of Human Welfare:
The modern business mainly motivated by self interest often ignores human welfare by indulging in unethical activities like hoarding, black marketing, adulteration of products, etc)
3. Monopoly Prices:
When businessmen combine their businesses to get the high prices is called
monopoly. Due to monopoly, many businesses are getting high prices from the customer
which is contrary to business etlucs
4. Inequalities in Wealth:
The modern business is transferring the wealth in few hands. Hence, gap
between rich and poor is going to increase with the passage of time. Due to this tensions
are being increase in society
5. Adulteration:
The dark side of business is adulteration. Pure food and medicine is necessary for health. But some businessman trying to become rich over right through unfair means like adulteration
Conclusion:
We do agree that the modern business has increased the Dfaho comforts of life by supplying the desired quality of products but it has obligations towards nation also. “Henry Ford” is right in saying that, “Business is not mere money chasing but it should also aim in serving the community.
