Capitalism Quote by Jonathan Sacks
““To whom is an international corporation answerable? Often they do not employ workers. They outsource manufacturing to places far away. If wages rise in one place, they can, almost instantly, transfer production to somewhere else. If a tax regime in one country becomes burdensome, they can relocate to another. To whom, then, are they accountable? By whom are they controllable? For whom are they responsible? To which group of people other than shareholders do they owe loyalty? The extreme mobility, not only of capital but also of manufacturing and servicing, is in danger of creating institutions that have power without responsibility, as well as a social class, the global elite, that has no organic connection with any group except itself.””
About This Quote
Corporate power can evade accountability through global mobility, creating a class whose loyalty is only to shareholders, not to any community.
In simple terms: Multinationals can act without responsibility.
Key Takeaway
Mobility can detach power from accountability.
Themes
globalization
corporate governance
ethics
political economy
Mood
critical
concerned
Type
political
ethical
When to use this quote
- outsourcing decisions
- tax avoidance strategies
- regulatory lobbying
- public protests
Key Concepts
social contract
institutional legitimacy
Practical Applications
- implement trans‑national regulatory frameworks
- establish stakeholder‑based accountability mechanisms
Questions to Reflect On
- What mechanisms could bind global firms to local responsibilities?
- How might citizens influence corporate loyalty beyond shareholders?
A Different Perspective
Some argue market competition, not regulation, best curbs excesses, though this can ignore power imbalances.
![“Neither Italian fascism nor German national "socialism" have anything in common with such a [Soviet socialistic] society, primarily because private ownership of factories, plants, lands, banks, means of transportation, etc., remain untouched there, and, therefore, capitalism in Germany and Italy…” quote by Joseph Stalin](https://sms4smile.com/quotes/img-quotes/411/joseph-stalin-1734_capitalism_neither-italian-fascism-nor-german-natio_1430.jpg)
