Ethics vs.

Economics
-Navigating the Tension Between Profit and Social Responsibility

The statement "When morality comes up against profit, it

is seldom that profit loses" speaks to a fundamental
tension that exists between two competing forces in society.
On the one hand, everyone wants to be successful financially,
including people and corporations. On the other side, there is
the moral obligation to act morally, in the interests of society
as a whole, and in line with righteous values. These two forces
frequently come into conflict, and profit frequently emerges
victorious.

One factor contributing to this is the frequent absence of

control and regulation of commercial operations. Several
companies are primarily interested in making money, and may
be prepared to use shortcuts or act unethically to do this. It
might be challenging to hold these companies responsible for
their activities in the absence of effective legislation and
enforcement procedures. Moreover, a culture of selfishness
and individualism that threatens society's moral foundation
might result from the pursuit of profit.

The fact that many people are ready to tolerate unethical

behaviour in the pursuit of financial gain is another reason why
profit frequently triumphs over morality. This is evident in the
example of companies that harm the environment or exploit

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their employees in order to increase profits. While many
individuals may understand that these actions are wrong, they
may still be willing to buy the products or services of these
businesses if they are cheaper or more convenient than
alternatives that are produced in an ethical manner.

It's crucial to remember, though, that the connection between

morality and business is not always clear-cut. While there are
many instances of companies prioritising profit before
morality, there are also several instances of companies that
have done so with great success. In fact, mounting research
indicates that organisations that place a high priority on social
and environmental responsibility may potentially enjoy
longer-term financial success. This is due to consumers'
growing desire and willingness to purchase goods and services
that are created in an ethical and sustainable manner.

Additionally, a large number of people and groups are fighting

to make companies responsible for their deeds and to advance
ethical business practices. Regulatory agencies,
non-governmental organisations, and concerned customers
who use their purchasing power to support companies that
place a high value on ethics and sustainability are included in
this. These people and groups are assisting to tilt the balance
of power away from business and towards morality by bringing
attention to unethical behaviour and promoting reform.

Finally, the adage "When morality comes up against profit, it is

seldom that profit loses" captures a basic conflict that pervades
modern life. While there are many instances of companies

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prioritising profit before morality, there are also several
instances of companies that have done so with great success.
By striving to keep businesses accountable and by campaigning
for change, we can assist to build a society where profit and
morality are not in conflict, but rather are intrinsically
interwoven.

SUBMITTED BY -
● Harshit Singh (2K22/A4/34)
● Mrigyank Roy (2K22/A9/61)
● Tanmay Bansal (2K22/A13/09)