Originally posted on This is Capitalism | By Christina Elson, Executive Director, Center for the Study of Capitalism
The Center for the Study of Capitalism (CSC), part of the Wake Forest School of Business, believes that capitalism is key to any sustainable solution to the world’s thorniest problems. Capitalism has survived and thrived in no small part because it is uniquely structured to make self-interest serve the wider interest. When capitalism functions well, creative, disciplined problem-solvers develop markets through free and fair trade, generating benefits for all of society.
Yet, many young adults don’t see things this way. In fact, many think that capitalism is at the root of many of the problems we face. So, does promoting capitalism run against our university’s motto: Pro Humanitate? We think not. We believe that promoting and supporting our country’s economic system is definitely in concert with being “for humanity.”
Wake’s historic mission to improve the human condition asks us to think about how to live – and to help others live – a long, healthy, and good life. At the core of CSC’s agenda is understanding what is meant by “a good life” and how not just businesspeople, but business itself, can contribute to that.
Any well-functioning business must make a profit, but CSC is exploring the motivations that drive inventors, entrepreneurs, and visionaries toward a balance of obligations to themselves and to others.