Social Responsibility in International Economics

The world is a community of nations with various religions, cultures, races, and economic and political system. However, in spite of such differences, the people of all nations have the same basic aspirations. They all want economic abundance, political stability, and social justice and freedom.

Unfortunately, countries do not have the same productive resources and opportunities to pursue the realization of their basic aspirations. There are strong and weak countries; there are big and small countries. As a result, two different worlds have been created. And a curtain of poverty has been raised to separate the two worlds. One is for the rich while the other is for the poor.

The rich countries have the social responsibility to help the poor countries not only because they have exploited them for centuries but because they have abundant resources – funds, machines and technologies. With such capabilities, they have a social obligation to improve the world – not only for the good of the poor countries, but also for their own interests.

WHAT IS SOCIAL RESPONSIBILITY?

Responsibility is a duty or an obligation. Strong person has a duty to help a weak person. The rich have the obligation to assist the poor. This is not only a biblical command, but it should be the social action of any civilized society. It has been said that if one gives the excess of wealth to the poor, it is charity. But if one gives part of his wealth to the poor, it is justice.

An individual who thinks of the interests of the whole system and contributes his resources to the development and growth of such system is performing his social responsibility. A business organization has the social responsibility of promoting the interests of not only its stockholders but also its employees, customers, suppliers and the government. But most important, it has a social responsibility to the community or society. It is evident that no business organization can perform...