Profit Maximization

The desire for corporations to maximize profits creates conflict with the general welfare of the nation at large is an arguable statement. This is a trade off that all the countries have faced at certain points in time and are still facing them. The most important criterion that comes to play is the way in which one defines "general welfare". We have contradicting views in this regard; some might relate it to living conditions, environment, etc while some might relate it to monetary earnings.

One of the most common ways of maximization of profit happens by cost cutting, which is done by reducing overheads. The overheads can be of various forms like facilities, subsidies or even the actual work force. And, when the cost cutting is done by the reduction of the actual work force with the motive of maximization of profit, the prime reason for the existence of the organization or industry from a humanitarian perspective is lost. While, from an industrial point of view it can be argued that if the organization runs into loss, then the overall effect might be much bigger than anticipated. Hence, this decision depends upon the values, vision and policies of the organization and cannot be generalized.
Another argument might suggest that, while a country is developing, a natural growth is attributed to the development of industries. The development of the industries has an adverse effect on the environment and this goes against the healthy living conditions of a nation. But, another thing that needs to be viewed is the economical benefit a country gains as the industries are developing. And, both the factors are equally important for survival and sustenance in the present day scenario, so the most logical and practically attainable solution is a balance between the two factors.
Hence, this is an argument that can be debated with equally strong views from both ends, while to reach a solution to this, we need to see the bigger picture or the overall effect of this phenomena. It is the responsibility of our governing body to take care of the best interests of the nation as a whole, with equal consideration to the betterment of the economy by maximization of profits. The basic idea must be that the intention behind every move or strategy must be good and in the best interests of the people concerned.