Market Capitalism and Social Responsibility

This book examines how accelerating social, technological and environmental disruptions are reshaping the institutional foundations of modern capitalism. Won-Yong Oh explores how, in the context of eroding social trust, shifting demographic structures and deepening climate instability, corporations face growing pressure to reconcile profit-seeking with broader responsibilities to society. This tension raises a fundamental question: Who pays for tomorrow?

Oh draws on global case studies to underscore how digital transformation and the global economic order are redistributing risks across generations and stakeholders. He poses a critical challenge: Can corporations justify the sole pursuit of profit when society is left to bear the cost of systemic perils? Chapters evaluate the limits of shareholder primacy, the failures of markets and governments, and the ethical tensions embedded in contemporary finance. Moving beyond a purely economic inquiry, this book calls for a structural imperative to redefine prosperity and safeguard the sustainability of our shared future.

Bridging theory and practice, Market Capitalism and Social Responsibility is a valuable resource for scholars and students of business, management, public policy and governance. It is also relevant to business professionals and corporate leaders interested in understanding the purpose, responsibility and power of the corporation.